Sanlam UK has recruited an ex-Close Brothers Asset Management head of private client, Penny Lovell, to launch its new Private Office business which is aimed at HNW clients.

Two of the world’s leading client risk assessment software providers – PlanPlus of Toronto and Finamentrica of Australia - are to merge from this month.

The merged business is called PlanPlus Global but the PlanPlus and FinaMetrica brands will continue to offer their products on a stand-alone basis. Finametrica is widely used by UK Financial Planners and was co-founded Paul Resnik, a well known figure in the UK.

PlanPlus is known for its multi-currency, multi-jurisdiction financial and investment planning software and FinaMetrica for its personal financial risk tolerance measurement tools. The joint business says the merger means that PlanPlus Global can offer an integrated solution around evidence-based investment suitability to banks, investment managers and financial advice enterprises.

PlanPlus founder and CEO, Shawn Brayman said: “Our products range from the world's most respected psychometric risk tolerance profiler to a goal-based robo adviser to comprehensive Financial Planning, all in several languages with more than 12,000 users in dozens of countries.”

The two firms say they have collaborated for over a decade, sharing a belief that customers and providers benefit when rigorous academic research underpins financial advice processes.

FinaMetrica co-founder Paul Resnik said: “The strategic match between FinaMetrica and PlanPlus is extraordinary. Our products complement each other and we share a common commitment to delivering financial systems that prioritize client’s best interests.

“Meanwhile, we both have global businesses serving the corporate market and individual advisors. The merger comes at just the right time for us to meet the market’s demands for an affordable, scalable and defensible advice solution that can be applied internationally across platforms, channels and borders.”

The merged business serves customers in more than 30 countries with significant presences in Canada, US, UK and Australia and substantial user bases in India, Germany, South Africa and Malaysia. PlanPlus Global has staff, offices and representatives in all major time zones.

FinaMetrica co-founder Geoff Davey will exit the business after his retirement from executive roles in 2015.

Paul Resnik said “FinaMetrica’s world leading reputation in financial risk tolerance is largely the result of Geoff’s insight, intellectual rigour and hard work. We thank him and wish him a long and happy retirement.”

Chartered Financial Planning firm Lloyd & Co has selected PortfolioMetrix as its investment management partner and plans to utilise the full range of investment tools offered by the firm.

Fund research company RSMR has added propositions from Brewin Dolphin and Quilter Cheviot to its list of rated Discretionary Fund Managers (DFMs).

Surrey-based Chartered Financial Planning firm Informed Choice has integrated with Amazon Alexa, the voice control technology system, and believes it is the first Financial Planner to deliver a daily audio ‘Flash Briefing’ to users.

The definition of a Paraplanner and whether there should be a new standard for Paraplanning has been a hotly debated subject for some while.

One of the founders of NextGen Planners has told Financial Planning Today that it was built to shake up the sector and ‘flip it on its head’.

The Financial Conduct Authority last month identified a number of pension areas where ‘intervention’ may be necessary following the introduction of the pension freedoms in April 2015.

Two members of the The Bank of England’s Monetary Policy Committee rebelled against the move to keep the Bank Rate at 0.25%, it emerged today.

Just 14% of finance firms believe the FCA is communicating effectively with them over Brexit.

The FCA Practitioner Panel survey of 2,080 companies published the finding today.

It asked firms if they agreed with the statement ‘The FCA is communicating effectively with firms on the process of preparing to exit the EU’.

Some 33% disagreed and 53% answered either ‘neither agree nor disagree’ or ‘Don’t know’.

The panel’s report stated: “These responses presumably reflect the fact that there is very little information available at this stage about how post-Brexit regulation will be set up.

“It was clear from the results that few respondents agreed that the FCA is currently communicating effectively on Brexit.

“Clearly there is more work to be done in this area, and the panel is encouraging the FCA to communicate directly with firms on an ongoing basis, even although specific details of post-Brexit regulation may not yet be clear and the message is that firms should continue, as far as they can, with business as usual.”

The latest Financial Planning Today magazine is out and available to read below...https://t.co/BBvoXy7IWj pic.twitter.com/wOeisaeG7P

— FP Today Magazine (@FPTodayMagazine) July 17, 2017

All firms were asked what they consider the FCA’s objectives should be during the process of exiting the EU, and were invited to provide their response in an open-text question.

Just over one in ten firms said that they would like to see the FCA minimise upheaval/ disruption/ change (13%) and provide clear guidance about new regulation/ change to regulation (12%), suggesting that many firms are primarily concerned with ensuring stability and clarity.

Fixed firms were more likely than flexible firms to want the FCA to ensure rules/ regulations are consistent with the rest of Europe (21% vs. 4%), and ensure access to the single market (14% vs. 4%).

Across different sectors, the most notable difference was among investment management firms, the authors of the report said.

One in ten IM firms (11%) would like to see the FCA maintain or improve ‘passporting’ between the UK and the EU, compared with 4% of all firms.

FCA practitioner panel report published today showed responses from firms on Brexit pic.twitter.com/2MLiJleMFj

— FP Today Magazine (@FPTodayMagazine) August 3, 2017