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SimplyBiz reveals restricted adviser support as it unveils new services


SimplyBiz says it will support both independent and restricted advisers post-RDR as it releases details of its new adviser offering.

Members will be offered two free service options, Vision and Framework, depending on how much of the firm’s services you want to use. Both options are available to independent and restricted advisers.

Vision gives advisers SimplyBiz-provided literature, tools and guidance with advisers following specific literature for client sales and investment processes and risk profiling questions via SimplyBiz’s Distribution Technology financial planning system. They would also use investment services provided by its financial planning and portfolio management service, Verbatim.

Framework is for advisers to put together their own investment and sales process and literature using SimplyBiz templates without using the SimplyBiz technology and investment services.

Last March, Davy pledged SimplyBiz would be the “champion of independence” but has since launched restricted network Sandringham Financial Partners.

SimplyBiz says it expects around two thirds of its membership to remain independent and estimates that over the next two to three years around two thirds of advisers will have gone down its Vision route.

SimplyBiz chairman Ken Davy says: “Advisers have to create compelling and impressive client engagements and we are confident that we can provide this for the firms we serve. Advisers will hold the relationships with clients and therefore the rest of the industry must work for advisers.”

The firm adds the new services will cost an extra £1m per year for the support service firm to run.


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There are 4 comments at the moment, we would love to hear your opinion too.

  1. Oops, says Ken.

  2. “pragmatic” as ever.

  3. So two thirds will be independent (96% last time I saw a Simply Biz press release on the subject) but over the next 3 years two thirds will go down the ‘vision’ route – which is their restricted offering. That’s confused, not pragmatic

  4. just in time as the SRA proposes to end the rule for solicitors using independant advisors. Lucky Ken bought a solicitor IFA network then………….

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