AWD rules out restricted advice and looks to buy
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AWD Chase de Vere chief executive Stephen Kavanagh says the firm will not look to add a restricted advice arm after the retail distribution review.
In an interview with Money Marketing, Kavanagh says: “A restricted advice arm is something we have not talked about and is not on the radar for us and our business plans.”
AWD currently has 183 IFAs and Kavanagh says the company will look to acquire firms of four or five advisers rather than taking on mass acquisitions.
He says: “We feel that will be a good hunting ground for potential acquisitions in the next couple of years as concerns around the likes of exams and capital adequacy take hold.”
AWD is also planning to launch its own academy in the first half of next year.
Kavanagh says he hopes the initiative will bring through 10 to 30 advisers in the first year.
He says: “We need to grow our own advisers and because we have a robust training and development arm, we are quite confident that area could give us 10, 20 or 30 young bucks next year. We have not got huge ambitions for these people at this stage. We just feel that organic growth is an appropriate step for adding to our numbers.”
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