Fintel joint chief executive Neil Stevens will step down at the end of June, leaving Matt Timmins in sole charge of the fintech and adviser support services firm which owns SimplyBiz and Defaqto.

Mr Timmins will take over sole responsibility as CEO of the firm after its AGM on 20 May.

Mr Stevens will not stand for re-election at the AGM but will continue with his current role and responsibilities in the interim period.

Phil Smith, non-executive chairman of Fintel plc, said: “Since our market listing in April 2018, the structure of joint chief executive officers has worked effectively for the company, allowing us the capacity to execute our multi-strand strategy.

“It also provided us with embedded succession planning in the event that either incumbent was to leave to business.”

He said the board of directors remains “highly positive” on the forward prospects for the business this year, and across the medium term, as the business continues to execute its strategy.

Mr Smith said the orderly nature of the transition underlines the executive strength held within the business and the quality of its succession planning.

He described Mr Timmins as “an exceptional leader who is fully equipped to lead our business over the next phase of our strategic growth. Our strategy is firmly set and we are focused on executing it at pace to deliver returns for our shareholders.”

Fintel will announce its full year results for the year ended 31 December 2024 on 18 March.

Last September it said profits climbed 7% to £9.6m in the six months to the end of June.

Reporting results for the first half of the year, it said core revenue climbed 13% to £31.2m. The figures were boosted by a number of acquisitions, with four completed in 2023 and a further three in the first half of 2024. The acquisitions added combined core revenues of £4.8m.

In July 2024 Defaqto, owned by Fintel, conditionally acquired fund ratings and research agency RSMR for an undisclosed amount, subject to regulatory approval. Fintel acquired support services firm Threesixty from Abrdn for £14.6m earlier in July .

It completed four other deals in the first half of the year, including the acquisitions of Synaptic Software, Owen James and ifaDASH, alongside significant investment in Mortgage Brain.

Those acquisitions followed the group's investment in CRM entrant Plannr, which had been announced in June 2023.