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Bestinvest to double financial planning business

Wealth manager Bestinvest is looking to almost double the size of its financial planning team in a major expansion.

The firm currently has 200 people employed in its face-to-face advice business in 39 locations across the UK and said it planned to hire new planners for existing offices and “potentially open up a presence in new regions”.

Bestinvest, which developed its nationwide financial planning business after acquiring HW Financial Services from Haines Watts accountants in 2010, said it had embarked on the expansion drive because it saw “opportunities arising from the retreat of banks from the advice market”.

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Richard Dawes, joint managing director of wealth management at Bestinvest, said: “We will be looking to expand our well-established business in areas including Scotland, the North East, North West of England and the Midlands, as well as considering establishing a presence in locations where we are currently lighter on the ground such as the south coast, East Anglia and South Wales subject to finding the right people.”