A business support company, which works with about 5,000 financial advisers across the country, has announced it is considering a flotation or selling a stake in the firm.
Simply Biz, which provides support services to over 2,000 financial services firms, has confirmed that it is working with corporate finance advisers BDO to consider the future options.
In a statement, the company said: "These may include an Initial Public Offer on the Alternative Investment Market, or the sale of a stake in the business to a trade buyer or private equity fund.
"The company has grown rapidly since it was founded by chairman Ken Davy in 2002, and so the board believe that now is the right time to consider the next stage in the company's development."
Simply Biz completed three deals in the last 12 months - Home Information Group, a property valuation firm, APS Legal & Associates, a wills and probate advisory business and Staffcare, a benefits and auto enrolment software business.
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It said there are no plans for the management team to change and Mr Davy will remain as chairman of the business.
Meanwhile, one of the firms in the group, Verbatim Asset Management, has appointed Dan Russell as managing director.
The investment process and fund management arm of SimplyBiz, has promoted Mr Russell, who was previously sales and marketing director.
He said: "This will be an exciting year to lead the Verbatim team. Following extensive due diligence and research of the offerings available in the market, we have created a strong and robust supply chain of solutions, which are being adopted by more firms every week.
"I have long been impressed with the skill and dedication of the Verbatim team in helping our advisers power profitable and compliant business models and am looking forward to building further on these solid foundations as we enhance our proposition."
He joined the firm in 2012, having worked with the business since launch in 2009.
The appointment is part of wider plans to strengthen the management team. Figures for Q3 2014 showed that Verbatim had over 1,700 'end users'.
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