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Prosperity IFA looks to expand

Prosperity IFA looks to expand

East Sussex firm Prosperity IFA is hoping to expand its number of advisers by the end of the year, its founder has said.

Simon Munday, who set up the Crowborough-based firm in 2012, said that Prosperity IFA, which currently has seven advisers, is hoping to recruit another three because of high business levels.

He said: “At the moment we are all extremely busy so it seems the right thing to do to expand.

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“We have not really been touting for business and people have been coming to us so we must be doing something right.”

However, Mr Munday said he did not want advisers who just expected work to be given to them. He added: “When I started my career I had to go almost door-to-door to find my own clients and to be an IFA you have got to be able to generate your own business.”

Mr Munday said the firm was also planning to move to new premises within 200 yards of its existing base as it had outgrown its current headquarters, which are rented, and was in the process of buying new premises.

Background

Earlier this month, several wealth managers and advisers announced plans to develop their businesses. Smith and Williamson Investment Management said it would be launching a push into the intermediary market.

National ex-pat wealth management firm Blevin Franks has revealed it is seeking to double its adviser numbers and asset base this year, while Edinburgh-based Anderson Strathern Asset Management is also set to expand with new advisers and a new operational structure.