SimplyBiz parent expands distribution deal with Schroders

SimplyBiz parent expands distribution deal with Schroders

SimplyBiz’s parent company Fintel has announced an expansion to its distribution deal with Schroders that will see it become central to its investment range.

Schroders will join Fintel’s risk controlled investment solution, which is delivered by SimplyBiz and Defaqto. 

The risk controlled investment solution is designed to improve adviser efficiency and consumer outcomes, according to Fintel.

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Commenting on the announcement, Fintel chief executive, Matt Timmins said both firms have worked closely together for a number of years and he is pleased they have further strengthened their relationship. 

“Fintel exists to help the market operate more effectively and with the continued success of the managed distribution and risk controlled investment solution we continue to deliver the technology and insight led solutions the industry needs to ensure better consumer outcomes,” he said. 

“I look forward to seeing the benefits for all involved as we continue to inspire better outcomes in retail financial services,” Timmins added.

The partnership builds on the distribution agreement that Schroders already has in place with Fintel, and follows Fidelity and Aviva, who have also further aligned their distribution strategies with Fintel.

Introduced in early 2021, Fintel's managed distribution service (DaaS) is a subscription-based service that includes research, data, product design and distribution services.

It was partly made possible by Fintel's acquisition of Defaqto in March 2019, which allowed it to develop digital, data-led consultancy services.