Standard Life sells Simplybiz stake

Simplybiz has bought back Standard Life's 10% share in the group for an undisclosed sum.

Standard Life originally acquired the 10% minority holding in Simplybiz in 2006. Simplybiz chairman Ken Davy said: "Completing this share buyback ensures that our business is well positioned as the largest independent provider of compliance and business services to financial advisers in the UK. "Our seven year relationship with Standard Life as minority shareholders worked well for both parties. "However, we are pleased to be in a position where we are able to buyback these shares so that we can focus on building the business independently of any product provider ownership. I am su...