RazorPlan CEO on joining Nest Wealth

To our valued RazorPlan advisors,

On May 14th we announced that Razor Logic Systems, the makers of RazorPlan, was acquired by Nest Wealth, Canada’s largest independent digital wealth management platform.

Financial planning is gaining greater momentum as the number one value proposition of wealth management and insurance professionals. At RazorPlan, we are committed to building on our vision of financial planning which is why we are excited by the opportunity joining Nest Wealth brings.

Nest Wealth, like RazorPlan is dedicated to helping all financial planners, investment advisors and insurance agents deliver comprehensive financial advice to their clients. Our common vision is to continue to support both technologies as independent platforms as they currently are, in addition to an integrated solution.

Our common vision is to continue to support both technologies as independent platforms as they currently are, in addition to an integrated solution.

Since announcing our merger with Nest Wealth, some of you have wondered if this means you will no longer have access to RazorPlan unless you become licenced through Nest Wealth. I want to assure all the advisors that currently use RazorPlan, or who may use RazorPlan in the future. At no time will you be forced into using the Nest Wealth Plus platform with your clients. Nest Wealth is not an investment dealer or MGA. Like RazorPlan, it is a technology company that offers a subscription service, a digital investment platform that is used by some of the investment dealers or MGAs you may do business with.

Nest Wealth also has a direct to consumer version of their platform but at no time will we use data you have entered in RazorPlan to market to your clients. RazorPlan has always respected the relationship you have with your clients. The combined company is committed to maintaining the highest standard in data security and privacy protection and all client information will continue to be hosted on servers located within Canada.

On a personal note, I want to tell you that we, the employees and shareholders of RazorPlan, are incredibly excited to be joining Nest Wealth. In structuring the deal, I also want you to know that I, Dave Faulkner, am so impressed with what Randy Cass has built that I insisted that 100% of my ownership of RazorPlan be converted to shares in Nest Wealth.

Like Victor Kiam, in the 1979 Remington ad said, “I liked the shaver so much I bought the company.” Well, I liked the Nest Wealth platform so much, I bought shares in the company.

Sincerely,

Dave Faulkner, CLU, CFP

Co-Founder and CEO Razor Logic Systems

2 replies
  1. Marta Stiteler
    Marta Stiteler says:

    Can you please confirm that Nest – which has a robo-advisor retail platform – will be accessing our client information to go after our clients?

    If I leave Razor – will you destroy the names and contact information of all of the clients that I have input in the current system?

    Is that information used in any way?

    Marta

    Reply
    • Mike Howe
      Mike Howe says:

      Hi Marta,

      Thanks so much for reaching out to us. To answer your concerns regarding the recent acquisition and the protection of your clients’ data, Nest Wealth will not be using RazorPlan’s client data to market advisors’ clients. Also, as per the RazorPlan Terms of Use, “all End User Data will be removed by Razor within TWENTY-ONE (21) calendar days following End User’s termination or unsubscription.”

      In fact, using client data is something that goes completely against the Nest Wealth brand for many reasons. Nest Wealth created a referral program for advisors to use called Nest Wealth Plus. The intention of this program is to allow advisors to increase their revenue while decreasing their costs by offering a digital solution to their tech-savvy clients. Nest Wealth values the advisor community and intends to strengthen investment advisors and financial planners as a primary channel of the business.

      There is no requirement for RazorPlan advisors to use Nest Wealth Plus. Advisors are free to recommend whatever investment platform/instruments they believe are in the best interest of their clients.

      We hope this answers your questions and reassures you that Nest Wealth Plus is a trusted partner. Please feel free to reach out to me if you would like to discuss this further.

      Many thanks,
      Mike Howe

      Reply

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