Adviser assist community SimplyBiz is to supply free entry to Defaqto’s Have interaction Monetary Planning system to all its members.
Each SimplyBiz and Defaqto are owned by fintech firm Fintel.
The Monetary Planning package deal shall be provided in a single licence for each SimplyBiz member agency.
Defaqto claims the Have interaction ‘end-to-end’ system is utilized by a 3rd of UK monetary advisers.
It consists of cashflow planning, shopper danger and ESG, portfolio design, product analysis, retirement earnings and pension switching, together with suitability stories.
Neil Stevens, joint CEO of SimplyBiz and Defaqto father or mother firm, Fintel, stated: “The improve to Have interaction delivers the UK’s most complete and related suite of recommendation options accessible to our members.
“We’ll assist companies give extra recommendation, to extra shoppers, with better effectivity and extra shopper engagement. This ensures they’ll proceed to ship the very best final result for every particular person shopper.”
Nearly half (46.5%) of SimplyBiz advisers stated that they had seen a rise in shopper numbers over the earlier 12 months.
Shopper financial institution development was additionally chosen as the highest precedence of 2024 by the vast majority of the advisers surveyed.
The agency additionally reported robust liquidity with a money place of £12.7m, and £69m of headroom in a £80m revolving credit score facility.
It stated its core adjusted EBITDA (a measure of revenue) climbed 5.6% to £20.5m from £19.4m whereas its core SaaS (software program as a service) and subscription income rose 2.2% to £37.6m, in comparison with £36.8m within the earlier 12 months.
SaaS and subscription revenues symbolize 66.4% of core revenues, climbing from 65.1% in 2022, the corporate stated.