Paul McMahon has joined the board of digital advice provider Ignition as non-executive director for Ignition Advice UK Limited.
Mr McMahon has over 35 years financial services industry experience in the UK and Europe including in non-executive director roles. His previous experience includes senior executive positions at Zurich Financial Services, Managing Director of AXA Sun Life (which later became Friends Life) and Group Marketing Director at AEGON. He was CEO of fintech company FNZ, and founded his own advisory business in 2013 working with major UK and European financial services companies in M&A, change management, and digital transformation. He will be based in the UK, reflecting Ignition’s recent expansion in that market.
Mr McMahon’s appointment to the board follows that of Russell Scrimshaw earlier this year, who joined Ignition as deputy chairman and non-executive director in January.
Peter Meurer, chairman of the Ignition board, said that Mr McMahon’s appointment brings significant international experience and knowledge to the business as it continues on its growth trajectory.
“Ignition has grown substantially over the past six months and we continue to see a very strong pipeline of interest in our digital advice offering.
“Paul’s extensive industry expertise and understanding will be extremely valuable as we continue our expansion in both the UK and in Australia and Asia.
“We are currently establishing partnerships with leading financial institutions in these markets and Paul is ideally positioned to help support and guide these discussions, particularly in the UK,” Mr Meurer said.
Mr McMahon said he has long been a passionate advocate of the social and economic importance of financial advice and that Ignition’s approach aligns closely with this.
“Our challenge as an industry has been to ensure there is sufficient breadth of advice, delivered in ways that are widely accessible and affordable. Advances in the use of digitisation now offers the prospect of removing historic barriers that have constrained advice capacity and makes it possible to do so in ways that bring a step change in quality assurance and customer convenience.”
“Ignition combines an exceptional propositional range with a high degree of configurability and compliance rigour, all delivered on a proven, bank grade technology platform. I believe institutions for whom advice provision is strategically key will find the Ignition offering genuinely differentiated”
Mr McMahon concluded “ I am excited about the scale of evolution in financial advice provision that we will see in the next few years. I am confident Ignition will become a valued partner to many institutions who will be central to shaping that change”
Ignition was recently appointed by UK wealth manager M&G Wealth for delivery of its digital advice offering for its advisers and customers. M&G Wealth is part of M&G plc which is a global investment group headquartered in London, England, and listed on the London Stock Exchange.