Summary:

In this 6th episode of the Fintech Impact podcast, Jason Pereira, award-winning financial planner, university lecturer, writer, and host interviews Shawn Brayman, the CEO of PlanPlus, a prominent Canadian source of financial planning software. Jason and Shawn discuss how PlanPlus has grown, their focus on research, and how to evolve financial planning services ethically for their customers.

Show Notes:

●     01:23 – PlanPlus is Canadian-based company doing financial planning with a

                     multi-currency, multi-jurisdictional, and multi-lingual global platform—

                     focused on research and best-practices.

●     02:48 – PlanPlus spun out from a larger Hewlett Packard ISV back

                    in about 1985.

●     05:14 – PlanPlus acquired FinaMetrica from Australia, the home of risk tolerance

                    testing.

●     05:49 – In 2001, PlanPlus went to the cloud early.

●     06:42 – They have planners in 20-30 counties and about 50 that are supported

                     with the software.

●     11:34 – The merger with PlanPlus and FinaMetrica currently involved 60-70 of

                    PlanPlus’ clients using FinaMetrica.

●     21:10 – Fintech is a redefinition of how we can apply technology.

●     26:33 – Millennials are used to immediacy. If Amazon can ship purchases in the

                    same day, why does it take so long to pull together data for financial

                    planners?

●     30:30 – Amazon is talking about getting into checking accounts.

●     32:27 – PlanPlus’ has a research commitment to focus on science and not personal

                    biases.

●     38:42 – The Journal of Financial Planning and the Financial Services Review by

                    the Academy of Financial Services are the key industry journals.

●     40:07 – Canada is in the bottom 10% on planet Earth for what they charge in

                    embedded fees.

●     44:15 – In Australia, only 25% of financial planners pass the competency test.

3 Key Points:

1 PlanPlus acquired FinaMetrica from Australia, the home of risk tolerance

  testing.

2. Millennials are used to immediacy. Data for financial planners needs to catch up to that faster speed.

3. The Journal of Financial Planning and the Financial Services Review by the Academy of Financial Services are the top industry journals.

Tweetable Quotes:

-     “Basically, PlanPlus was actually a spin-out from a larger Hewlett Packard ISV back

       in about 1985.“ – Shawn Brayman

-     “Customer-wise, we have planners or advisors…running around 20 to 30 different

       countries.“ – Shawn Brayman

-     “Canada is in the bottom 10% on planet Earth for what we charge in embedded 

       fees.” – Shawn Brayman

Resources Mentioned:

● LinkedIn – Jason Pereira’s LinkedIn

● Facebook – Jason Pereira’s Facebook

● Woodgate Financial – Website for Woodgate Financial

● LinkedIn – Shawn Brayman’s LinkedIn page

● Twitter – Shawn Brayman’s Twitter page

● PlanPlus – Shawn Brayman's Twitter page

Hosted on Acast. See acast.com/privacy for more information.