Tom Hegarty has been appointed as new CEO for adviser support services firm Simplybiz.

Fintech and adviser support services firm Fintel, owner of SimplyBiz and Defaqto, said statutory profits climbed 6.3% to £15.3m in 2024 as revenue climbed.

Fintel joint chief executive Neil Stevens will step down at the end of June, leaving Matt Timmins in sole charge of the fintech and adviser support services firm which owns SimplyBiz and Defaqto.

Financial services industry giant Ken Davy has been awarded an OBE in the King’s New Year Honours List.

Fintech and adviser support services firm Fintel, owner of SimplyBiz and Defaqto, said profits climbed 7% to £9.6m in the six months to the end of June.