Phil Smith, founder and former group CEO of Embark, has been appointed as a non-executive director at fintech and support services firm Fintel.

He helped grow Embark to $42bn in client assets before leaving the platform and SIPP provider following its sale to Lloyds last year.

Mr Smith is also currently non-executive chairman of fintech BEIQ and Kore Labs.

Other previous roles include managing director at Barclays Wealth as well as senior executive positions at Fortis Investments, Arthur Andersen, Prudential M&G.

Ken Davy, non-executive chair at Fintel, said: "I am delighted to welcome Phil to the Fintel Board. He brings a wealth of business transformation and industry experience and will complement the range of skills we currently have on the Board. We all look forward to working with Phil."

AIM-listed Fintel owns adviser data provider Defaqto and adviser support firm SimplyBiz.

SimplyBiz rebranded as Fintel in March 2021, following its acquisition of fintech Defaqto and a greater focus on financial technology.

The fintech and support services firm saw a 6% increase in adjusted EBITDA to £18.3m (FY20: £17.3m) for the year ended 31 December.

The fintech’s net cash position for the year ended 31 December was £2.6m.

The firm reported net debt of £19.4m in 2020.