Chartered financial planning firm Fairstone has appointed ex-Cofunds director Adam Smith as its new chief operating officer.
Mr Smith takes up the role with immediate effect and will also join the Fairstone executive committee.
He will principally oversee the group's investment management business as well as its client and adviser propositions.
He will also have overall accountability for managing the firm’s relationships with external product providers.
Mr Smith is a senior financial services professional and brings with him almost 20 years of experience including commercial director positions at Old Mutual, Cofunds and Legal and General.
Lee Hartley, chief executive at Fairstone, said: "We are delighted to welcome Adam to Fairstone’s executive team.
"His appointment reflects our commitment to developing our senior leadership team and I have no doubt that his ability to deliver an enhanced wealth management framework can only support the future growth of the company."
Mr Smith said: "Throughout my career I have been responsible for inspiring large cross functional teams to meet their strategic goals and ultimately to grow the businesses I have been involved in.
"I look forward to continuing this theme as part of the Fairstone team. I've been continually impressed by Fairstone's growth, not just in absolute terms, but by the way it has delivered this growth sustainably, with a profitable, independent and Chartered offering."
The news was welcomed by AJ Somal, chartered financial planner at Aurora Financial Planning, who said: "This looks like a good appointment, as he brings in a lot of experience from all his various roles. Hope it all goes well."