IFDL to power SimplyBiz’s Verbatim platform

SimplyBiz has chosen Investment Funds Direct Limited to power its Verbatim Product Centre platform.

The platform will launch to SimplyBiz member firms in December offering general investment accounts, Isas and Sipps, with further wrappers to be added in 2013.

IFDL is the white-label technology offering behind the Ascentric platform.

SimplyBiz says the service will integrate its Distribution Technology front office with IFDL’s trading capability.

The platform will be rolled out to non-members in 2013.

IFDL institutional sales director Rob Beverley says: “This is an important announcement for IFDL and follows many months of collaborative thought and development in readiness for the new landscape next year.”

SimplyBiz managing director Neil Stevens (pictured) says: “Adviser charging poses many challenges and so we are recruiting new teams and capabilities; whether it is collective funds, discretionary management, platform, wrap or insured products, we have lined up the best of the industry to work in new ways that ensure the adviser is the only one constant in the client’s mind.”