Simplybiz profits up as 2% of members leave industry

The company reported a pre-tax profit of £3.8m in the year ending December 2013 - up from £3.46m before the RDR came into effect. Its turnover rose from £9.14m to £9.68m. Its client base has also grown in the last year, although about 2% of its members have left the industry as a result of the RDR, the company said in its annual results. Simplybiz said it is committed to serving both independent and restricted advisers and will "continue to build on both models for the future". Growth in the firm's client base is credited to the "work carried out by the business since 2009 in prepa...