Financial Planning fintech EV has appointed former managing director Chet Velani as its new CEO.
Mr Velani has been with the business for 18 years, having joined EV as a graduate in 2008.
In his time at the firm he has held positions in actuarial, sales, marketing, product and management.
He said: "What attracted me to EV nearly two decades ago remains true today, a belief that technology can help more people access the financial support they need to make better decisions. The industry continues to face a significant challenge, with millions of consumers unable to access the guidance and advice that can improve long-term financial outcomes.”
Bruce Moss, founder of EV, said Mr Velani had already played a central role in the company’s growth and innovation, with his experience making him “exceptionally well placed” to take over the helm.
EV claims to support over a quarter of the UK adviser market with its Financial Planning technology and also works with wealth managers, pension providers, banks and insurers.
Its tools include EVDigital, its hybrid digital advice technology, and EVPro, its Financial Planning tool for traditional advice.
EVPro is a Financial Planning tool that allows advisers to create and manage suitable client plans. It also supports advisers with their Consumer Duty requirements by using stress-testing functionality and EV’s stochastic model to deliver forecasts of client outcomes.
It consists of three core modules:
- EVPro Risk – a clients risk profiling solution
- EVPro Invest – analysis of existing investments and creation of investment solutions
- EVPro Goal – a cashflow management tool with an automated stress-test feature.
The modules can be used as standalone tools or in combination. There are also two additional bolt-on modules: a problem solving and a review module.