SimplyBiz members adopt over 1,000 Defaqto Engage licenses as part of upgrade programme

19 September 2024

SimplyBiz has announced over 1,000 Defaqto Engage licences have been adopted by its member firms since an enhanced version of the financial planning system was added to its core membership package five months ago.

Forming part of SimplyBiz’s suite of market-leading technology solutions and designed to help advisers manage regulatory risk, increase efficiencies, and deliver better services to clients, Engage brings together a range of previously standalone modules, from risk profiling and cashflow modelling to pension, product, and platform switching, into a single comprehensive package. Used by around 30% of UK advisers, Engage is powered by Defaqto’s data which covers more than 21,000 funds, platforms, DFM MPS, and products, with recommendations of £43bn going through the system annually.

Marc Thompson, Adviser Services Director at SimplyBiz, commented:

“The strength of Engage lies in the collaboration between Defaqto and SimplyBiz, powered by feedback from our members about what they need from a planning tool. Engage is the best financial planning tool available in the market and has helped advisers to save not only money but also thousands of hours over the past four months.

“We’ve received a hugely positive response since we added Engage to our core membership service and, along with the rest of the comprehensive suite of market-leading technology solutions available to our members, we’re pleased to see it helping advisers to add efficiencies, streamline processes, and meet their regulatory requirements.”

John Milliken, CEO of Defaqto, added:

“We’re delighted to be a strategic partner of SimplyBiz, working to provide advisers with access to Defaqto Engage - the UK's most comprehensive financial planning tool -, which empowers faster, smoother, and more compliant experiences. Together, we’re focused on making technology accessible to advisers and improving client outcomes."