SimplyBiz champions un-restricted advice
Compliance and business services company SimplyBiz has today announced it is taking on the role of ‘Champion of Independent Advice’, backing the cause for advisers who wish to remain Independent.
The services provider has committed to providing all of the tools, software and processes necessary for firms to remain un-restricted. By using its financial resources Simply Biz has committed to ensuring the firms it serves can continue to offer independent advice to their clients without creating an unnecessary burden on administration and costs.
Ken Davy, Chairman of The SimplyBiz Group, said “Post-RDR we have no doubt that the consumer will continue to want Independent financial advice and this is where there are great opportunities for advisers. At Simply Biz we believe that this is the route the majority of professional advisers will choose and therefore our role is to support them by ensuring they can meet all of the new requirements.”
“A survey we ran in both October and March suggests that only 3 - 4% of SimplyBiz members are actively considering the restricted advice route. An un-restricted adviser is not beholden to anyone and is therefore able to give their clients the best possible service making Independent financial advice the only practical way forward for today and tomorrows’ professional advisers.”
Simply Biz, who provide support services to over 5000 advisers, state that remaining independent post RDR will not be a challenge providing you have access to the necessary tools to help you conduct a fair analysis of the relevant market and are quickly and expertly able to assess those products which are not appropriate for your clients.
Managing Director, Matthew Timmins added “Remaining independent will be difficult for the large Nationals and Networks and for commercial reasons they have a vested interest in restricted advice. Our commitment though is that for those firms who wants to continue advising their clients in an unrestricted way, we will ensure they are able to do so in the most efficient way. Furthermore we are guaranteeing to any firm who joins us before September 30th 2011 that our charge of 2.5% will never increase. In addition, for larger firms, we have capped our charges at just under £550 per month ensuring that membership of Simply Biz has never been better value
