๐ฃ๐น๐ฎ๐ป๐ป๐ฒ๐ฟ๐ฃ๐ฎ๐น ๐ฅ๐ฎ๐ถ๐๐ฒ๐ $๐ฒ ๐ ๐ถ๐น๐น๐ถ๐ผ๐ป ๐๐ผ ๐๐๐ถ๐น๐ฑ ๐๐น๐ถ๐ฒ๐ป๐ ๐๐ป๐๐ฒ๐น๐น๐ถ๐ด๐ฒ๐ป๐ฐ๐ฒ ๐๐ฎ๐๐ฒ๐ฟ ๐ณ๐ผ๐ฟ ๐จ๐ ๐๐ถ๐ป๐ฎ๐ป๐ฐ๐ถ๐ฎ๐น ๐๐ฑ๐๐ถ๐ฐ๐ฒ
PlannerPal, an AI workflow platform for financial advice and wealth management firms, has raised $6 million (ยฃ4.3 million) in a round led by Mercia Ventures. Ada Ventures, which led the company's February 2024 pre-seed round, also participated, alongside strategic fintech investors and angels. PlannerPal will use the capital to expand its engineering and product teams, support customer rollouts, and accelerate development of its client intelligence capabilities.
PlannerPal began by automating administrative work in financial advice, including capturing client meetings, producing documentation, and updating the systems advisers already use. The platform now connects client information across conversations, documents, and core systems to improve data quality. It integrates with Iress Xplan, where it is the only AI partner in the Iress Partnership, as well as Intelliflo, Curo, Plannr, Microsoft Teams, Zoom, and SharePoint. More than 250 UK advice firms use PlannerPal, including Canaccord Wealth, ValidPath, and Amber River, supporting around ยฃ150 billion in client assets.
The round reflects demand among advice firms for AI that works inside their existing technology rather than beside it. CEO and co-founder Mark Whitcroft said he does not believe the answer is "another disconnected AI tool sitting outside the core systems of the business." Adam Lovell, Investment Director at Mercia Ventures, said firms want a long-term AI partner that works with their existing systems and client data. PlannerPal has also entered UK mortgage advice, signing Charles Cameron, one of the country's largest independent mortgage brokers.
