SimplyBiz has announced that over 1,000 Defaqto Engage licences have now 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.

The Engage platform is designed to help advisers manage regulatory risk, increase efficiencies, and deliver better services to clients.

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.

Engage brings together a range of previously standalone modules, from risk profiling and cashflow modelling to pension, product, and platform switching, into a single package.

“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,” adviser services director at SimplyBiz, Marc Thompson, commented.

“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.”

Defaqto CEO, John Milliken, 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.”

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