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EQ Investors appoints ex Bestinvest advisers to lead new Simply EQ service

National financial advisory firm EQ Investors is set to launch a simplified advice service that will be delivered by two ex-Bestinvest advisers.

Sally Collins has been appointed to lead the new service Simply EQ, which is earmarked to launch at the end of October.

Ms Collins held a number of roles at Bestinvest, including corporate manager and head of prospect management, before leaving the advisory firm - which is now called Tilney Bestinvest - in 2014 after 13 years in the company.

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The roles of investment adviser will be occupied by Ms Collins’s former Bestinvest colleague Freddie Cleworth and Nicola Allen, who was internally promoted. The team will be supported by EQ’s 10-strong group of investment managers and research analysts.

The new proposition will be providing a blended online and telephone based investment and pension advice that offers a wide choice of investment strategies and risk profiles at market leading rates, the company said.

John Spiers, chief executive at EQ said: “With more than 15 years’ experience in financial services, Sally is ideally placed to help lead and mentor the Simply EQ adviser team.

“Our philosophy at EQ is about giving clients choices. The large majority of investors in the UK do not have a large enough portfolio to justify the fees that are inevitable with face-to-face advice.

“Simply EQ is intended to fill that gap, using the best features of technology to make our systems efficient while still keeping the human interaction with Sally, Freddie and Nicola that most of us find essential when making financial decisions.”

Matthew Smith, managing director at London-based Buckingham Gate Chartered Financial Planners, said: “There is a need for this kind of service that is accessible for those with a low pension pot value. To deliver full advice when a simplistic approach would suffice doesn’t make any sense – especially when you take into account all of the regulatory costs and the amount of time it takes to deliver such advice.”