The founder and managing director of national advice firm 2plan has stepped down from his senior position at the advice firm.
Openwork wealth director Mike Morrow said after the stake purchase was completed Davies stepped back from his senior role at 2plan.
‘Following the mutually agreed acquisition of the remaining equity stake in 2plan by Openwork in May 2018, Chris Davies (managing director) has decided to change direction and, among other things, take the opportunity to establish his own advice business within 2plan,’ he said.
‘We are grateful for Chris’s enormous contribution to the group over the past 11 years as co-founder and managing director and we’re delighted he has decided to stay on in the group. We wish him every success in his new venture. Chris Smallwood will continue as chief executive officer.’
According to LinkedIn, Davies is now the principal of Plural Planning, his own advice firm within 2plan.
Financial statements show 2plan’s parent company made a loss of £1.6 million last year. During 2017 the advice firm introduced a ‘business service charge’ for its clients to combat increasing regulatory costs.