The company’s advice team manager for Cambridge announced the move as part of a wider expansion strategy in East Anglia.
It is hoped that the initial team of 12 advisers will be joined by five new recruits in the next year. There are also plans to host auto-enrolment seminars for local businesses in the near future.
Mr Pacey said: “We will use the opening of this new office as a springboard for our growth plans in Cambridge and East Anglia, as we plan to recruit new advisers and grow our business in the region.”
Formerly AWD Chase de Vere, the company removed the initials from its name last month as one aspect of an ongoing rebranding exercise, chief executive Stephen Kavanagh said.
Last year he confirmed that the company would aim to increase adviser numbers by 17 per cent.
Background
Last week Malcolm Streatfield, chief executive of national advisory firm Lighthouse Group, said that RDR and the demise of high street banking advisory arms meant that thousands of advisers had left the industry, and only hundreds were joining.
He said: “Without the large employers hiring – rather we hear about them ditching their advisory arms post-RDR – where is the fresh blood coming from?”
Companies such as Lighthouse have been recruiting. At the end of May the group took on 49 recruits and aims to take on 10 recruits every month until July 2015 for its national advisory arm. However, Mr Streatfield said it was not enough to stem the tide.
