Fintel welcomes Tom Hegarty as Simplybiz CEO to drive strategic expansion

 () , a provider of fintech and support services to the UK financial sector, announced an upcoming leadership change at its wholly-owned subsidiary Simplybiz. Tom Hegarty, former head of M&G Wealth Advice, has been appointed as the new CEO of Simplybiz, effective April 1, 2025.

Prior to joining Simplybiz, Hegarty played a key role in the creation and development of M&G's Advice Partnership. He also established the M&G Wealth Advice Academy in 2021, which focuses on nurturing new talent and increasing accessibility of advice for consumers.

Hegarty has prior experience at Fintel as the Managing Director of the New Model Business Academy, a not-for-profit subsidiary of , where he developed one the of the first apprenticeship programmes in financial advice.

Additionally, he has been involved in various initiatives within the wider financial advice sector. He chairs the New Talent Alliance, an organisation dedicated to attracting and developing new talent within the industry, and also chairs the Trailblazer Group within the financial advice sector for apprenticeships.

Matt Timmins, CEO of Fintel, commenting: "I believe that Tom will work with the team to build enhancements to our compliance and regulatory services whilst focusing the business on the technology opportunities of the future. Across Fintel, we have invested in a wealth of solutions which make us the number one provider of technology to the UK intermediary market, and I'm confident Tom's work with the team across the group will significantly enhance their delivery."

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Fintel's Simplybiz is appointing industry veteran Tom Hegarty as its new CEO, bringing a proven track record in financial advice, as well as valuable prior experience at Fintel.  Hegarty's existing relationship and familiarity with Fintel should facilitate a smooth transition into his new leadership role at Simplybiz.

Hegarty joins the Fintel group amid a period of strong growth, as reflected in 's recently published full-year results. In FY24, Fintel's core revenues jumped by 22% to £68.9m from £56.6m LY, supported by £15m of sales from four acquisitions completed during the period - Owen James, Synaptic Software, ifaDASH, and Threesixty Services.

Adjusted EBITDA rose by 8.5% to £22.2m following significant investment in products and services. Core SaaS and subscription revenue was up 17% to £44.1m, reflecting growth in recurring revenue streams.  ended FY24 with a robust balance sheet, including £6.3m of net cash and £50m of headroom in its £80m revolving facility, providing flexibility for further M&A.

Net debt was at £23.7m, following spend on acquisitions and product development, representing a comfortable leverage of 1.1x. Adjusted EPS was 13.2p/share, reflecting continued profitability. Final dividend was 2.45p/share proposed, resulting in a full-year dividend of 3.65p, an increase of 5.8% year-on-year.

Momentum is strong into FY25, with trading in line with management expectations, and the addition of 6 new customers to Fintel's recently launched Matrix 360 platform. The backdrop for  remains positive, underpinned by structural market shifts within the UK financial services sector, including regulatory requirements and demand for data and insights.

Fintel maintains strong visibility of earnings and recurring revenues, with continued M&A expected to facilitate further organic growth through expansion of services, cross-selling, and other synergistic opportunities. With a strong balance sheet, plenty of headroom in its credit facility, and strong cash generation, the group remains well-funded for continued expansion.

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