Financial planner Alex Riley took to Twitter following an advanced training session with the provider, telling peers: “Heads up to those not already using Voyant Go. The older desktop-based product is going to be closed this year, we were told.”
Voyant Adviser is used by advisers across their business, from wealth management, to cashflow analysis, and tax and estate planning strategies.
The firm’s customers include small advice firms, as well as the likes of Quilter and St James's Place.
We are pretty shocked…I only found out yesterday by chance.David Penney, Penney Ruddy & WinterAlongside Voyant’s desktop-based product, the software provider also runs Adviser Go, which some advice firms have already moved to.
Voyant Adviser user David Penney found out about the firm’s intention to wind down the application later this year from Riley’s tweet.
“We are pretty shocked,” he told FTAdviser. “I am not aware of Voyant even informing us. We have had nothing - I only found out yesterday by chance.”
Riley said in another tweet: “I flick between the two because there are still some tech things you can't do in Go, but was told[...] that updates will tackle those details, with the old system phased out this year.”
Voyant told FTAdviser Voyant Go is a “more advanced application with functionality that exceeds that of the legacy Voyant Adviser”.
No formal communication has been issued to clients.VoyantIt confirmed Voyant Adviser will therefore be wound down “towards the end of the year”.
“No formal communication has been issued to clients but we will be sending details well in advance of this date to assist with changing to Adviser Go,” a spokesperson from the firm’s support team said.
While some advisers were not informed of the wind down, others seem to have known for months.
Financial planner Serena van der Meulen told FTAdviser her firm, VM Associates, had already stopped using the desktop version “as they told us months ago that this would happen”.
“There have always been two versions. Most firms I know have always used Go which is just different but they’ve always linked.”
Voyant said “a very large majority” of advice firms have already switched to using Adviser Go.
“While we appreciate the loyalty of our users to specific versions, Voyant is committed to continuously reengineering our solutions to provide the highest quality user experiences and most advanced information security,” a spokesperson said.
Data security and protection played “a large role” in the transition, they added, pointing to the older plug-in technologies Voyant Adviser uses.
Advisers can access training on the move over. The firm said because data is shared between all Voyant applications, advisers’ client plans are already available.
In March 2021, California-based AssetMark Financial Holdings acquired Voyant in a deal worth $145mn (£104mn).
Following the deal, the business remained as a standalone subsidiary. In a statement to shareholders, AssetMark, an asset management platform for financial advisers, said it expected Voyant to help accelerate its growth prospects.
ruby.hinchliffe@ft.com
