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SimplyBiz extends Capital Reward scheme

Following SimplyBiz’ double launch of Capital Reward and Capital Reward Plus, intending to give away 70 per cent of the shares to IFAs, the firm has entended the offer.

SimplyBiz is extending its gift of shares to new firms that join the service provider prior to the alocation date.

Chairman Ken Davy says: The shares in Capital Reward and Capital Reward Plus will be allocated in the Autumn of this year to all SimplyBiz and Compliance First member firms and every practice joining either service provider before the allocation date will receive shares in the two businesses.

“Following our decision to gift a minimum of 60,000 shares to each member firm we have received many enquires from new firms wishing to join us and this gives us an opportunity to reward any firm joining us prior to the allocation date.”

Every firm will be eligible for a minimum of 60,000 shares in each company plus an extra share for each £1 of turnover up to £300,000 and thereafter on a sliding scale.

Capital Reward managing director Matthew Timmins says: “Ken Davy is well known in the industry for his support of the IFA profession and helping firms build real capital value. The scheme he ran at DBS saw the creation of several millionaires and many more who achieved five figures plus. I am delighted that we are able to extend the Capital Reward scheme to new firms and believe that the scheme will be an outstanding success for all those involved.”

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