Adviser tech startup Advicefront raises £1.3m to launch trio of online advice tools

Advicefront, the adviser tech startup, has closed a £1.3m funding round led by platform technology provider FNZ.

The London-based firm plans to use the funds to help launch a trio of online advice tools onto the UK market that will “help financial planners eradicate bureaucracy, complexity and paperwork from their businesses.”

The first tool, Onboard, is already available and is designed to speed up and automate client onboarding processes, like billing and risk profiling. The company is planning two further product launches by autumn.

The majority of the funds were raised when FNZ took a minority stake in Advicefront for £1m.

Another £300k came directly from a raft of angel investors, including Serenity Financial Planning’s Tina Weeks, Josh Matthews, partner at Maseco Private Wealth and META Finance’s founder Ben Leonard.

José Supico, Advicefront founder, said: “Our strategic partnership with FNZ has set the wheels in motion for a series of big reveals in 2018.

“The aim of these products will be to help financial planners automate tasks that are boring and add little value so they can concentrate on nurturing relationships with clients.

“This is a huge milestone in our business and it brings us one step closer to delivering lasting improvements to the way consumers think about and manage their money.”

Adrian Durham, FNZ chief executive, added: “We’re really excited about the potential for Advicefront’s technology to help ambitious financial services firms serve more clients, in a cost-effective way, while retaining the all-important human touch that customers want.”

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