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SimplyBiz gives members three-month fees payment holiday

  • 01/04/2020
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SimplyBiz gives members three-month fees payment holiday
The SimplyBiz Group is offering its advisers a three-month payment holiday on fees as part of a package of measures to help firms through the coronavirus crisis.


More than 3,700 directly authorised firms sit under SimplyBiz’s intermediary services arms.

Earlier this week, Mortgage Solutions exclusively revealed the Financial Conduct Authority (FCA) was planning a package of fees adjustments for smaller firms.

As well as help with cash flow management, advisers are being offered support with learning and development and mental wellbeing.

SimplyBiz firms can access free software to service clients remotely.

Brokers have been offered guidance on how to tap into the financial support available from the government.

There is also help on hand to diversify into alternative business areas to maintain cash flow.

A virtual learning centre, offering training and structured CPD events is available through a digital channel.

And SimplyBiz is providing regular a news and updates on the coronavirus pandemic, including its effect on the industry and potential implications for clients.

Finally, a workplace mental health support app is on offer, including a module on issues specifically linked to isolation and working from home.


‘Advisers need protection and support’

Matt Timmins, joint chief executive of The SimplyBiz Group (pictured), said: “We have put considerable work, thought and investment into building this additional support package, which addresses the biggest issues affecting advisers and brokers during the coronavirus crisis.

“Time and time again, the benefits to consumers of using a financial services professional have been demonstrated, and we believe the ongoing health of the adviser community and the ongoing health of the economy are intrinsically entwined.

“Advisers spend their working lives finding ways to protect the financial wellbeing and lifestyle of consumers and clients.

“In these extraordinary and challenging times, advisers themselves also need protection and additional support, and I am proud that the group is there to help them.”

Timmins added that the package offered additional support with managing cashflow, servicing clients remotely, accessing financial support, diversifying revenue streams, learning, staying informed and maintaining mental wellbeing.

“It is impossible to accurately predict how long this crisis will last, and exactly what the ramifications will be in the long-term,” he continued.

“However, among all of this uncertainty, we want advisers and brokers to know that The SimplyBiz Group is in their corner and we will be there to support them through both the good times, and those which are more challenging.”


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