Ken Davy, founder of the IFA network concept, launched SimplyBiz in November 2002 to provide compliance and other services to IFAs for a fraction of the cost of traditional Networks and Service Companies.
In its first year over 350 IFA firms and almost 800 advisers selected SimplyBiz as their compliance service provider and the company’s growth is continuing into the current year with total turnover exceeding £50m and a membership of over 400 firms.
Mr Davy commented: “SimplyBiz is the sectors fastest growing support company and we are delighted to have achieved all our initial objectives. We are particularly pleased that the SimplyBiz compliance team have notched up a 100% acceptance rate on our members applications to join the FSA. The SimplyBiz team’s extensive compliance experience coupled with our effectiveness at processing direct applications to the FSA now provides a great platform for SimplyBiz to help Mortgage Advisers become directly regulated by the FSA. SimplyBiz is a service company not a network and it is clear that the network concept no longer adds value to IFA firms, we believe the same result is inevitable in the mortgage sector. For most Mortgage Advisers direct regulation will be by far the best way forward and we aim to help them achieve that objective by helping them through the FSA application process.”
In addition to the full range of IFA support services SimplyBiz provides a mortgage helpdesk, full compliance support, access to a mortgage panel, enhanced procuration fees and commission rates, free mortgage software and a host of other services all for just 2.5% + vat.
Ken Davy commented “We are already positioned as the service company of choice for IFA’s and with our new service we can now help mortgage advisers to increase their profitability and opportunities through direct regulation by the FSA”.
For more info log on to www.simplybiz.co.uk/mortgages.
