SimplyBiz posts £2.5m profit

Well done Simply Biz.

Now, is there any chance you could take a smidgen of that profit and address the lack of seminars/training days in Northern Ireland which our UK counterparts enjoy for the same monthly compliance fee???

Congratulations to Simply Biz on their profits.

I wish them well for providing a service to the smaller IFA and keeping a standard within the industry that would be hard to match for smaller concerns. I am sure that as long as IFAs want off the shelf packaged compliance that they think covers their needs, SB will continue to thrive, especially with their minimum 5% annual increase to their minimum monthly fee.

I wonder, Were all these figures set on commission turnover?

@Disgusted

Thank you for your comments. We try to ensure that all our events have a fair geographical spread and we currently hold approximately 8 meetings a year in Northern Ireland at present. In fact, You’ll be pleased to hear that SimplyBiz have two events coming up next week in Northern Ireland; the Learning & Development event and an auto-enrolment workshop. As always, we value your feedback and our events team are currently checking to ensure we are holding the same number of meetings in Northern Ireland next year as we do throughout the rest of the UK. We have always ensured that we travel throughout the whole of the UK and the number of face to face meetings we will hold in 2013 will be even greater than 2012, where we have held over 120 individual meetings.

It is nice in these days of austerty or as it is known in reality - recession , to see a company in financial services providing services - and generating a profit. There are going to be so many opportunities after RDR with PRice Waterhouse reports showing advisers down by 2 /3 rds from 30,000 to 10,000.

Assuming they have some 250 clients each - that is 5,000,000 consumers left without advice by David Cameron and his government. With the government and insurance companies fighting for funds from the government - a cynic mght consider the onslaught of RDR - to be part of the governments strategy to terminate insurance - to get their way with insurance companies. With the meltdown in the financial markets - the recent floods - might demonstrate the usefulness of insurance contracts to offload some of the risks - to ensure buinesses and people are not financially disadvantaged. Insurance will help them to rebuild their lives and their livliehoods - but not the advisers - whose figures have reduced so drastically under years of regulation - which have shown to faile in other countries. Finally where have all the fines applied to banks gone ? or is this just a paper transaction which has no worth .