The co-founder of financial planning software provider Midwinter Financial Services, Matthew Esler, has resigned as non-executive director and sold his stake in the business after taking up a senior role with Ibbotson.
"With Matthew's recent promotion to head of distribution at Ibbotson, he felt that he could not devote enough time to his non-executive director role at Midwinter," said the company's managing director, Julian Plummer.
As a result Matthew has resigned from the board and released his interest in Midwinter.
Plummer said Esler played a significant role in Midwinter's success in developing and managing the relationships with licensees and financial advice practices since 2007, announcing a number of software releases this year.
The company will also focus on enhancing its paraplanning services offered to large institutions, particularly in regards to the new scaled advice rules, Plummer added.