SimplyBiz: Service firms must offer more than compliance

SimplyBiz has said that service firms must look beyond simply offering compliance support as it revealed it will continue to invest in ‘bulk-buying’ technology to ensure members using its free financial planning technology continue benefit from wider support and a broader range of tools.

Matt Timmins, joint managing director at SimplyBiz, said the firm has always believed that support services companies should offer much more than just compliance services and its has been building and investing on this basis for the past 10 years.

The group’s proposition includes a ready-made solution for independent or restricted directly authorised firms known as Vision, which offers firms a specific advisory structure with literature, tools and guidance from SimplyBiz. The service will be launched next year.

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Mr Timmins said: “It reflects once again the changing environment in which we work, and is designed to offer firms even more. Our vision for 2013 and beyond is to ensure that we continue to offer services, technology and advice to our members, which they can use at every stage of their client journey.”

Its 2013 strategy to help advisers is to operate a compliant and robust post-RDR operating model and build and operate an effective and profitable client journey, with SimplyBiz completing much of the background work.

He added that it will demonstrate its value for their ongoing adviser charge by providing tools and technology to use with clients, while supporting those remaining independent through the provision of enhanced research and helping firms define the relevant market for retail clients

Mr Timmins said: “During 2013 we will also bring in straight-through purchasing technology with some of the biggest providers in the industry, helping advisers offer a seamless solution for their clients which is cost effective and flexible.

“We will also make significant enhancements to the’ client view’ technology we offer through our front office planning tools to ensure that advisers can demonstrate ongoing value for their charges.

“In 2013 the game changes. Advisers hold the relationship with the clients and therefore the rest of the industry needs to recognise that they work for advisers.”