Sports Enthusiast Ken Davy founded Simply Biz in 2002 to provide compliance and business support services to small and medium-sized independent financial advisory (IFA) firms. Davy had already set up and run an IFA network, floating it in 1997 and then selling it to software group Misys for a reported £75m. Simply Biz has grown organically by signing up almost 2,000 firms as clients, and sales have grown 175% a year from an annualised £359,000 in 2003 to £7.5m in 2006. Last autumn Standard Life took a 10% stake in the Huddersfield firm, which bought two compliance service providers in 2007.
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