In a statement today (16 January), it said Germany, with its sophisticated financial ecosystem, is a key market for Allfunds, offering vast potential for growth and innovation in WealthTech solutions, and additional scope to roll out platform and digital services in line with growing demand for these types of solutions.

Henrichs “will play a pivotal role in delivering against these goals, strengthening the company’s positioning and accelerating its growth in Germany. With an extensive track record of successfully growing and scaling businesses in the asset and wealth management sector, he brings deep market insights and a robust network of industry relationships”.

Previously serving as CEO of FNZ in Germany and Fondsdepot Bank, he also has extensive experience with banking regulators in Germany and Europe. His background as a CFO and various board roles in Software, Cloud, and Finance businesses across Germany, Luxembourg, and the UK further underscore his ability to drive Allfunds’ success in this key market.

Juan Alcaraz, CEO and Founder of Allfunds, said: “Understanding the unique needs of our clients in Germany is key to keep building on our success. With Sebastian’s deep knowledge of the market and extensive expertise, we are well-positioned to deliver our value proposition effectively and strengthen our position in this critical region.”

Henrichs said: “I am thrilled to advise Allfunds and contribute to their growth strategy in Germany. Leveraging Allfunds’ leading technology, expertise, and industry know-how, I look forward to collaborating with Allfunds to deliver innovative solutions that meet client’s needs and drive success in this exciting market.”

This new enhancement to the existing 2-way integration allows Plannr users to open the client record within FinCalc with a single click.

Using secure OAuth2 technology, the user is automatically and securely logged in to FinCalc without the need to enter their username and password and taken directly to the client’s record in FinCalc. What’s more, if the client doesn’t already exist in FinCalc the client is “seamlessly created”, transferring key data such as:

– Partner records (if applicable)
– Income and expenditure
– Retirement age and other personal details
– Existing financial plans

This automatic data transfer eliminates duplication of effort, reduces the potential for errors, and ensures advisers can hit the ground running with cashflow modelling and other financial planning. Conversely, if the adviser starts their work in FinCalc, they can open the client’s record in Plannr with a single click.

Instant Cashflow Modelling and Results

Within FinCalc, advisers can view a client’s cashflow model and utilise the financial planning tools. From here, they can generate reports to share with clients and/or push back into Plannr for a cohesive client experience.

From No Record to Comprehensive Forecasts in Seconds

This integration exemplifies FinCalc and Plannr’s shared commitment to innovation and usability, delivering a seamless adviser and client journey. In just seconds, advisers can go from having no client record in FinCalc to a fully populated profile complete with a history and financial forecast.

Gareth Thompson, CTO at Plannr said: “The team at FinCalc have really embraced how modern providers and CRMs should be working together.

“With our API-first construction we’ve opened up the doors for forward thinking firms to rapidly build game-changing depth of connectivity and FinCalc have done just that – showing how the advice journey and ultimately the client journey can be effortless for all.”

Jason Wykes, CEO at FinCalc said: “We’re really proud to be innovating alongside Plannr.

“We both understand that the adviser and client journeys need to be seamless, pain-free, and powerful. With all your data available at the click of a button, we’re enabling advisers to focus on what matters most: delivering value to their clients.”

Through a new partnership with Payit by NatWest, with the help of their adviser, clients will be able to make top-up payments quickly and easily, direct from their bank accounts. The new functionality reduces the time it takes for their money to be invested on the Parmenion platform – and makes the process of clients sending money to the platform more secure.

This is the start of a wider move towards simpler ways to make payments – Parmenion said it will expand the capability to simplify how clients withdraw money, and they’re working with advisers to understand how open banking payment technology can support greater efficiency in the future.

Payit is an open banking technology from NatWest that enables payments through the online bank of a client’s choice using a QR code. Clients don’t have to bank with NatWest to be able to access it, nor do they require a mobile banking app, as the tool also works with online banking.

Adding the new functionality is part of Parmenion’s commitment to constantly enhancing the service they provide, making it easier for advisers and their clients to invest.

In recent research into the impact of poor platform service, conducted in conjunction with the Lang Cat, 82% of advisers said that poor service has a significant impact on their day to day working lives. Parmenion is committed to improving that picture through their own development capability and by partnering with businesses like Natwest, who are harnessing the power of open banking to deliver a better digital experience for clients.

Parmenion also continues to make improvements to client reporting, providing advisers with the flexibility to tailor reports for their clients. In response to adviser feedback, they have also introduced tiered adviser charging, with client grouping capability now live.

Parmenion chief marketing officer Sarah Lyons said: “We want to make it as simple and intuitive as possible for people to top up their investments whenever they like. As strong believers in the power of technology, we wanted to embrace the Open Banking revolution to make top ups even easier by adding the Payit tool to the platform.

“It is also important not to exclude clients who may not be as comfortable with online and mobile banking, so of course we will still allow investment account top-ups via the traditional methods of bank transfers and cheque.

Ritu Sehgal, head of transaction services and trade at NatWest said: “We are delighted to help Parmenion leverage the benefits of open banking through Payit by Natwest, enabling clients to top up their investment accounts in a simple and streamlined way. By giving their IFAs access to the service, Parmenion’s customers can add funds quickly to their accounts whilst ensuring a secure transaction.”

A survey, commissioned by Flagstone and conducted among 2,000 UK adults by independent research firm Opinium, highlighted concerning signals among young peoples’ attitudes towards saving money. When compared with those of older people, poor attitudes can be up to twice as prevalent.

Almost half (46%) of young people say they haven’t enough savings to be bothered earning interest from them (compared with less than a quarter (23%) of those aged 55+)

More than 2 in 5 (42%) young people don’t see savings as something to make money from (versus less than 1 in 3 (32%) those aged 55+).

And more than 1 in 3 (35%) say that they simply don’t have time to research or set up new savings accounts (a sentiment shared by less than 1 in 5 (18%) of those aged 55+).

Young people are more than twice as likely to say that they don’t know enough about the savings market to make good savings decisions (45% of 18-34 versus 21% of those aged 55+).

Despite these negative attitudes, however, when it comes to their habits and actions, younger people often show greater decision-making power when it comes to how and how much they save, compared with their older peers.

Young people (18-34 years old) are more than three times more likely than older people (aged 55+) to regularly check and manage savings as part of a goal-oriented approach to reach specific financial goals (38% vs 12% respectively)

They are almost twice as likely to say they have achieved or made strides towards savings goals compared with older savers (33% vs 18%)

And on the route towards those goals, younger people are also twice as likely to accept a bit more risk on their savings for a better return (52% of 18-34 year olds vs 26% of 55+).

They also recognise the need for cash management – younger people are 44% more likely than older people to admit that if they were a bit more proactive they could earn more interest vs older people (62% of 18-34 year olds, vs 43% of those aged 55+)

But younger savers do need more support, with almost a quarter (23%) of 18-34s saying they would save more if they have more confidence in their ability to make the right savings decisions, compared with less than one in ten (9%) of older people.

The same proportion (23%) say they would save more if they have a better understanding of how best to manage their money (versus just 6% of those aged 55+).

For instance, almost half (47%) of younger people say it simply doesn’t occur to them to switch savings accounts for better rates (versus just a third (34%) of those aged 55+).

Claire Jones, head of strategic partnerships at Flagstone, said: “In a market where the cost of living remains high, house price growth is primed to outstrip inflation, and wage growth has dipped, it’s so important that younger people feel supported to make the most of every pound they have in their possession.

“There’s a balance to be struck between tying up your money in long-term investments, property or career-long pensions, and keeping some funds more liquid yet still working hard. But savvy personal financial management is not an innate skill that most people are born with. There is such a benefit to receiving financial education when you’re younger; and once individuals start accumulating some wealth, getting the right sort of advice to bolster that is hugely valuable.

“Technology comfort levels play a huge role too. Using the right kind of technology helps us gain confidence in our finances, make better financial decisions, and manage our finances more ably. As their younger, ‘digitally native’ clients accumulate wealth, the advisers who embrace technological innovation to make their clients’ personal financial journeys easier stand to benefit the most.”

Abigail Ford, Senior Adviser, St James’ Place, said: “The data shows us positive green shoots, where younger people are demonstrating improved tendencies towards saving versus their older counterparts. I would attribute this to their attitude towards and engagement with technology. Regardless of age, those who embrace savings as an asset class are generally also those who have embraced technology which is an effective rival to and combatant of inertia.”

Ed Shardlow, financial planner, Ablestoke, said: “Anyone whose memory stretches back to 2003 and earlier, knows that higher interest rates mean it’s possible to generate worthwhile returns on cash. They might even be of an age that remembers a time when some people were even able to live off their savings. Younger people, however, have lived with historically low rates and so are unable to see cash in the same way. It’s harder, therefore, to get younger people to engage with cash as a result.

“Younger generations have technology on their side, however. These people have grown up with the internet and for them, jumping from one rate to another, managing multiple accounts with multiple banks, or getting tips on how to take control of their finances from social media, blogs and YouTube are all completely instinctive behaviours. This could explain why, while their attitudes to saving cash are poorer than those of older generations, this data suggests that when they’re motivated to start saving, they’re faster to adopt good habits.”

Developed in collaboration with Google Cloud (a partnership established with Allfunds and announced in April 2024), ANA simplifies user interaction with Allfunds’ ecosystem of over 250,000 funds. It empowers clients to track market trends effectively and make better-informed investment decisions.

Key features of ANA include:

• Advanced screening of funds, uncovering investment opportunities across asset classes, data-points and ratings, eliminating the need for manual analysis through its precise filters.

• Intuitive navigation. Allfunds’ Connect platform to effectively assimilate complex data into easily visual and actionable insights, driven by straight forward controls.

• Detailed comparisons. Facilitates side-by-side analysis of multiple funds across a broad spectrum of metrics for informed, data-driven decisions.

The launch of ANA follows the recent roll-out of Allfunds Navigator, a tool that integrates real-time market data, AI, and machine learning to support fund distribution efforts, offering clients a strategic edge through actionable insights.

Allfunds is dedicated to the continuous enhancement of ANA and future updates will expand its capabilities in line with advancements in AI language models, ensuring clients benefit from the latest technological developments to streamline decision-making.

Juan de Palacios, chief strategy and product officer at Allfunds, said: “With ANA, we empower users to make confident, informed decisions by harnessing the full potential of the Allfunds Connect ecosystem. This is just the beginning—our focus remains on combining technological excellence with client-centric innovation to uphold the market-leading service we are known for.”