Just Mortgages has launched its wealth management business as it pursues a hiring spree it hopes will see 25 advisers join the new division by the end of the year.
Advisers at the newly named Just Wealth will be self-employed but have access to business development and compliance support and supervision from the wider company.
David Magee is set to lead the wealth business with ambitions to build a team of 15 advisers by the end of March and 25 by the end of 2021.
Mr Magee began his own career as an IFA and helped set up the wealth management business of Skipton Building Society in 2004.
Mr Magee said a new wealth management firm launch in the UK was "really exciting".
He said: "Just Wealth will be a real shot in the arm for the industry as we will not only provide new opportunities for existing wealth advisers but also bring in new blood and expand the talent pool.
"There are currently not enough wealth advisers to serve those clients in need of professional advice, so bringing in new talent is crucial."
Training for advisers will be provided in partnership with Openwork which, alongside Just Wealth, will cover course fees and provide training manuals and materials.
Mr Magee added: "Alongside the new talent that will be trained through the academy, we will also recruit entrepreneurial wealth advisers who want the shackles taken off.
"This will be a great stepping stone for advisers ambitious to set up their own business but who would welcome the extensive support we will provide; along with compliance, business development and training support, we will also provide leads.
"This is a huge opportunity as our parent company, Just Mortgages, has a massive database of potential clients, which our wealth advisers can provide expert advice to."
rachel.mortimer@ft.com
