SimplyBiz profits rise to £3m

clock

Financial adviser support group SimplyBiz has reported a pre-tax profit of £3m for the year ending 31 December 2012, up 15% on the £2.5m figure recorded for 2011.

The group's turnover rose 17% from £13.9m to reach £16.2m while net assets rose to £16.4m, up from £16m in 2011. A dividend of 16p a share was declared in May, representing a total amount payable of £1.3m. SimplyBiz chairman Ken Davy said: "The cost to the consumer can already be seen in the reduction in the availability of financial advice. In addition, literally hundreds of millions of pounds and countless hours of preparation time have been spent by advisers alike to be RDR ready. "It remains to be seen whether any material benefits will emerge for consumers, however, at the mom...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on RDR

RDR ten years on: An advice industry changed for the better
RDR

RDR ten years on: An advice industry changed for the better

'The end of the advice industry as we know it'

Kevin Silvester
clock 08 February 2023 • 2 min read
RDR

Deja vu: Are we heading back to the future on commission?

Marty, fire up the DeLorean

Tim Sargisson
clock 13 January 2016 • 3 min read
RDR

Blog: How can we shrink the advice gap?

The advice gap has been a popular topic since the Retail Distribution Review, but hasn't this gap always existed?

clock 02 November 2015 •