Simplybiz launches practice buyout scheme

It offers 70% of renewal income to the IFA for five years, plus 20% of any income generated through new business written with the clients. The Practice Buyout initiative allows the advisers to transfer clients to Simplybiz's non-advisory service, Capital Reward Plus, or, if ongoing advice is required, to one of 12 pre-selected local IFA firms who have signed up to receive clients under the scheme. Although it is aimed mainly at advisers retiring from the industry, the services provider said it will also be suitable for those segmenting their client bank in advance of RDR or firms who ...