An IFA who launched a direct-to-consumer website offering free access to FinaMetrica and Voyant’s risk profiling and financial planning tools has been forced to remove the FinaMetrica tools and branding.
Last month, Cullen Financial Planning IFA Philip Dodd launched Money Guidance, which aims to “cut out the middle man” IFA and give investors free risk-profiling functionality.
Both FinaMetrica and Voyant insist they were not aware of the launch of the Money Guidance website. FinaMetrica says it has asked Dodd to remove its tools and branding from the website, while Voyant has asked for its branding to be removed.
Money Marketing understands Voyant’s tools have been left on the site while discussions over a possible commercial arrangement take place.
FinaMetrica chief executive Paul Resnik says: “While Dodd is a FinaMetrica user through his own IFA practice, we have asked him to remove the full FinaMetrica functionality from his new client-facing website until the proper data and commercial issues are correctly resolved. It was disappointing we were not given the chance to approve the site or made aware of his launch plans.”
Voyant chief operating officer Bob Freeman says: “Unfortunately we were not privy to the launch of the website and we have asked that our branding be removed.”
Dodd says: “My intentions have been clearly flagged up to the board of both organisations from inception of the business plan last year and I can only assume the success of the launch has provoked a rethink based on commercial considerations.”