Advicent hires CEO

Advicent Solutions, the company behind the NaviPlan and NaviPro financial planning software products, announced Wednesday it hired Phil Cunningham as chief executive officer. In November, Zywave Financial Solutions renamed itself Advicent Solutions after selling both its name and its Insurance Solutions Division to the private-equity firm Aurora Capital Group. Mr. Cunningham replaces Bill Haack and Jim Emling, both of whom previously served as CEO at Zywave. Mr. Haack and Mr. Emling will remain at Advicent as members of its board of directors. Mr. Cunningham has served in leadership roles at Fidelity Investments, Automatic Data Processing, and Vista Equity Partners, which is Advicent's private-equity owner. Vista focuses on investing in software and technology-enabled businesses and has approximately $6 billion in committed equity capital. Advicent says its customer base includes approximately 250,000 advisers nationally, including 17 of the top 25 broker-dealers. In December, Advicent discontinued its NaviPlan financial planning products for desktop computers as it develops its NaviPro products for dual online/offline use. Advicent now offers the NaviPro group of financial planning products as a substitute for the discontinued NaviPlan Extended Desktop and NaviPlan Standard Desktop.