The people
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Working at Planswell
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On the TechTO stage
Eric Arnold of Planswell presents The Secret Sauce of Fintech
Watch on YouTube ↗
Eric Arnold of Planswell presents When I was 12
Watch on YouTube ↗Every talk is searchable — ask the archive about Planswell ↗
About
Eric Arnold founded Planswell in Toronto in 2015 on the argument that professional financial planning was priced for people who already had money. Its product is a short online questionnaire that returns a plan covering investments, insurance and mortgage together, free to the user; the company employed salaried certified financial planners, insurance agents and mortgage brokers, and made its money from the products those plans led to. It expanded into the United States in October 2020, where revenue quickly passed the Canadian business. In late April 2026 Planswell entered receivership: its lender told the court the company had defaulted on roughly US$1.85 million and that Arnold had left for Colombia in early February with no intention of returning. Arnold presented at TechTO twice, in November 2017 on the mechanics of fintech distribution and in December 2018 on what he was doing at twelve.
Backers
Venture-backed; investors not confirmed here. Lender FVP placed the company into receivership in April 2026.
Quick answers
What does Planswell do?
It builds free financial plans online. A user fills in a questionnaire and gets a plan covering investments, insurance and mortgage together; the company earns from the advice and products the plan leads to.
What happened to Planswell?
It entered receivership in late April 2026. Court filings by its lender allege the company defaulted on about US$1.85 million and that CEO Eric Arnold departed for Colombia in early February 2026. planswell.com was still serving as of August 2026.
Did it operate outside Canada?
Yes. It launched in the United States in October 2020 and US revenue soon exceeded the Canadian business.