View more on these topics

Simply Biz adds 1,000 RIs with buy

SimplyBiz has bought Glasgow-based adviser services provider Compliance First in a deal that sees it increase its adviser client base by a third.

Around 1,000 registered individuals, representing 205 adviser firms, use Compliance First, giving the combined group 4,000 advisers.

Compliance First was owned by managing director Eric Ronald and another unnamed individual. The purchase price has not been disclosed.

Both firms will retain their own brands but SimplyBiz chairman Ken Davy, who becomes chairman of the combined group, says the increased scale will improve cost-effectiveness and extend the range of services available to advisers.

He says advisers using Compliance First will be able to access SimplyBiz’s mortgage club and discretionary portfolio management service.

The two firms will also look to cut costs by integrating their technology systems.

SimplyBiz operations director Neil Stevens becomes joint managing director alongside Ronald. Ronald’s silent partner has left the firm. Ronald says he shares Davy’s view that the network model is outdated and is encouraging IFAs to move to a directly regulated environment.

He says: “Support services firms are the evolution of the network model, which has had its day. We are trying to encourage advisers away from networks. The new scale should give us stronger negotiating power with product providers and we are planning to synergise the technology systems currently used by Compliance First with those used by SimplyBiz.”

Davy says: “We will each continue to service our own members but draw on the services that each other firm offers. Compliance First will now also benefit from the financial strength of SimplyBiz. Over time, we expect we will make the brands even stronger now we have joined forces.”


VCTs back on track

SPECIAL REPORT: VCTs. Baronsmead VCT manager David Thorp says venture capital trusts faltered after the tax relief changes but have regained ground.

Give credit for debt advice

Mr Rodger says that to discuss debts you need a consumer credit licence. This is true but surely you do not need one of these in order to suggest to a client that he reduces his mortgage or debt rather than investing in what he calls other investment products but I would say that investment […]

OFT refers PPI market to Competition Commission after public consultation

The Office of Fair Trading has referred the UK Payment Protection Market to the Competition Commission for further investigation.The decision comes after a period of public consultation following the OFT’s earlier proposal to refer the PPI market to the commission in October 2006.During the consultation the OFT received 20 responses including businesses, consumer organisations and […]

Tech winners keep on winning

By Ali Unwin, chief technology officer & fund manager, Neptune Artificial intelligence, driverless cars, big data. As technological advancements – and disruption – increasingly dominate headlines, Ali Unwin sets out six key themes he is watching in 2017. Read more Important Information Investment risks Neptune funds may have a high historic volatility rating and past performance […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm