"It's like SJP, with choice"

It took most people by surprise. Earlier this month, support services provider Simplybiz revealed it is moving into the restricted advice market – on a scale that would pit it against wealth management giant St James’s Place (SJP). The group has spent 18 months secretly putting together a proposition – and a £2m war chest – it believes will be one of the largest in the country. Project Refresher is the codename for the restricted national firm that launches in September. Simplybiz managing director Matt Timmins hopes to recruit at a rate of 40 advisers per month, until it reaches 1,00...