Support services provider SimplyBiz is ‘exploring options’ ahead of its contract with Dynamic Planner coming to an end in May 2019.
For the past nine years, SimplyBiz has offered fee licences for Distribution Technology’s (DT) Dynamic Planner tools for its advisers as well as training and support for the software. Dynamic Planner is a risk profiling and asset allocation software provider.
However, in a message seen by New Model Adviser® sent to SimplyBiz advisers, the support services provider has warned the contract for Dynamic Planner finishes on 21 May 2019, and ‘we are working with DT to explore the options available’.
‘Both organisations are absolutely committed to firms having unobstructed choice in selecting whichever software system is most appropriate for their business in the future, and our discussions in the coming weeks will include the agreement of clear provisions and support for all of our member firms,’ the message to IFAs said.
Own brand software
SimplyBiz Investment Services managing director Dan Russell said the end of the Dynamic Planner contract has to be seen ‘in light’ of its launch of its own adviser software, Centra, which it launched earlier this year.
Russell said Centra provides an integrated service for suitability report writing, risk profiling, asset allocation and product research in the same system. The service runs on Defaqto technology, plugs into Intelliflo at the back end and is free for SimplyBiz IFAs.
‘This is saving many hours in the advice process per case,’ Russell said. ‘We launched it from scratch in the spring and launched it out to our membership in March/April time. By the end of November, we had 2,500 users from 950 firms.’
When asked if Dynamic Planner was going to be offered after the contract ends in May, Russell said: ‘We are in discussion with Dynamic Planner as to what the best way forward is. We will make sure the advisers that we service have got access to the right services they need.
‘What we can for definite say is that Centra is available and is here to stay. The majority of our firms have moved and those who haven’t are moving across to it.’