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

Members of adviser support network SimplyBiz have adopted more than 1,000 Defaqto Engage licenses since it offered free access to an enhanced version of the Financial Planning system five months ago, the firm said.

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.