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Selestia wins battle to be picked as Simply Biz supermart

Selestia has beaten competition from bigger rivals Cofunds and FundsNetwork to be chosen as the preferred fund supermarket for Simplybiz.

Simplybiz is recommending that its 2,400 advisers use the Old Mutual-backed fund platform after a review of its IT systems and the wrappers available on the website. The two will stage joint roadshows later in the year to showcase the proposition.

Selestia has also signed up manager of managers specialists SEI to its platform, which will enable advisers to set up bespoke asset allocated portfolios for clients. Advisers can use the platform’s risk management tools to establish their clients’ risk profiles and then click on the manager of manager option for a portfolio of SEI funds tailored to the clients’ requirements.

SEI head of business solutions Ryan Hicke says: “Advisers can directly access our new fund structure which provides investors with an optimised solution and a wide range of asset classes.”


Completions rise by 8% for Leeds

Leeds Building Society posted profits of 24m in the first half after an 8 per cent rise in mortgage completions to 881m.

‘Biggest climbdown in legal history’ costs Equitable Life 30m

Equitable Life has dropped its 700m High Court claim against its former auditor Ernst & Young and faces a 30m legal bill. In what E&Y barrister Mark Hapgood called “the biggest climbdown in English legal history”, Equitable dropped its claim – originally for 2.6bn – after the evidence of former directors blew the society’s case […]

Back on target

One of the key roles of financial planners – if not their only role – is to enable their clients to move as close as possible to a position of financial security as quickly as possible. For those of their clients who are already financially secure, the financial planner’s role is to help them stay in that position.

Disciplinary scheme takes E&Y action

The Joint Disciplinary Scheme has relaunched its complaint against Ernst & Young after Equitable Life dropped its E&Y case.


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