Company Research Report: Planswell Corp.

Company Overview

Name

Planswell Corp.

Mission of the Company

Planswell aims to provide the world’s most actionable financial planning experience to everyone, for free. They are dedicated to making financial planning and advice accessible to all, promoting financial education and peace of mind.

When was the company founded and by whom

No information is available.

Key People in the Company

Eric Arnold - Co-Founder and CEO

Other notable mentions: Andy Cosby (inferred from user experiences).

Headquarters

Planswell is headquartered in Toronto, Canada.

Number of Employees

No specific number is provided, but it is noted as a "small but mighty startup."

Revenue of the Company

No information is available.

What the Company is Known For

Planswell is known for offering free comprehensive financial planning services. Their platform allows users to create financial plans effortlessly, blending technology with expert advice.

Products

Overview

Planswell offers an integrated suite of financial planning products centered on retirement, debt management, investment, and insurance planning through its financial planning engine.

High Level Description and Key Features

1. Retirement Planning

Predicts total savings at retirement age based on current savings, contributions, and risk tolerance.

Provides an optimized drawdown strategy to maintain target income for life.

2. Debt Management

Analyzes existing debt and suggests consolidation to minimize interest and help free up cash flow.

3. Investment Planning

Recommendations for optimal allocation towards various account types to save on taxes and maximize retirement savings.

4. Insurance Planning

Suggests appropriate levels of coverage to protect future income in cases of illness or death.

5. Advice from Local Advisors

Offers free access to expert advisors for personalized guidance tailored to individual needs and lifestyle.

Recent Developments

Recent Developments in the Company

Partnership with Rise People (October 8, 2019): Planswell partnered with Rise People to enhance employee financial wellness through new technology.

New Products Launched

Launch of an advanced financial planning engine with expanded features for precise financial management.

New Features Added to Existing Products

The platform continually evolves with the integration of expert advice and the refinement of financial planning engines to produce more accurate projections and strategies.

New Partnerships

Planswell has partnered broadly with financial advisors across Canada and the United States to scale its mission of accessible financial planning.

Additional Funding

January 2019: Raised an additional $4 million in seed funding to enhance product offerings and expand the software's reach globally.

Expansion Plans

Plans to extend the reach of their financial planning software into 12 countries across Europe, Asia, and Latin America were outlined by CEO Eric Arnold.