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Parmenion joins Simplybiz scheme

Parmenion Capital Partners is to work in tandem with SimplyBiz in a deal that will allow advisers to invest in the outsourced investment platform.

The Capital Reward incentive initiative lets advisers signed up to Simplybiz take advantage of free shares the provider is offering in a bid to give principals a new route to generate additional capital value.

The scheme is designed to offer members a minimum of £60,000 worth of shares in Capital Rewards Ltd. With the shares given on the two provisions that they are held for five years and vested in companies also signed up to the deal, which is whole of market.

Parmenion Capital Partners’ sales director Paul Miles says: “SimplyBiz is a key player in the IFA network arena and we are very pleased to be partnering with them in the Capital Rewards initiative. At Parmenion, we fully support any venture designed to help advisers add real value to their businesses as this is also the mainstay of our own business model. The outsourced investment service we supply now to several hundred advisers is, I believe, one of the best tools available to help generate some significant business value.”

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