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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.”

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