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M&G Wealth appoints acquisitions director

M&G Wealth appoints acquisitions director

M&G Wealth has appointed Tim Clark to the role of recruitment and acquisition director as it looks to grow its advice business.

Clark joins from Loyal North, where he focused on attracting advisory firms from across the UK. He has formerly held senior recruitment and development roles at Tavistock Investments, Benchmark Capital, The Lighthouse Group, The Tenet Group, Edward Jones, AMP and General Accident.

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Chris Haines, chief executive officer of M&G Wealth’s advice business, said: “Tim has a unique and powerful knowledge of recruitment and acquisition in the financial services sector.

"He has achieved significant success throughout his career, helping a range of UK financial services organisations to successfully grow, develop and capitalise their businesses in a dynamic, profitable and fully compliant manner.

“Tim has a well-regarded network of advisory and recruitment contacts at both firm and individual level throughout the UK.”

M&G Wealth has previously outlined plans to increase the size of The Advice Partnership business, which has grown to 220 advisers in the past year.

The Advice Partnership has recently announced the creation of its own Adviser Academy to support growth, particularly of its existing firms.

Clark will be looking at all aspects of recruitment, with a focus on growing numbers within The Advice Partnership and potential acquisitions.

He will also support work in the Adviser Academy to help bring new advisers in and work towards bridging the financial advice gap.

In March this year, adviser platform Ascentric and Prudential Financial Planning announced they would take on the M&G name as part of a re-brand.

M&G Wealth said at that time both businesses would be branded M&G Wealth and the existing business names will no longer be used following the rebrand.

The businesses will remain separate and clients will be asked which part of M&G Wealth they want to access when visiting M&G's website.

M&G announced its new wealth management division, M&G Wealth, in September, which comprises Ascentric, Prudential Financial Planning, The Advice Partnership and the M&G Direct funds business.

This came after it acquired the Ascentric platform from Royal London in September 2020, bringing 1,500 adviser customers and 90,000 of their clients to the firm.

Clark said: “There is a well-marked need throughout the UK to address the financial advice gap. M&G Wealth has a clear and progressive strategy to play an important role in that while being fully focused on delivering better outcomes and experiences for its clients.

“There is a collective power and strength throughout the organisation to support scaled and responsible growth - in partnership with the wide range of high-quality advisers and businesses that exist across the UK."

M&G Wealth's total assets under management and administration currently stand at £28bn.