Moneygate hires former AWD director

16 November 2011 9:32 am | By Steve Tolley

Moneygate Group has hired former AWD Chase de Vere director Phil Andrews as national sales director.

Moneygate Group currently has 120 advisers but it says acquisitions currently being worked on will push that to 150 by the end of 2012. In October, Moneygate said it was in “mature” discussions with 22 IFA firms with a view to acquiring their operations using £1.4m put aside in 2010. Moneygate’s sales director Dennis Reed moves into a new national development director role and will focus on expanding the company.

In his new role Andrews is charged with attracting advisers and business to the firm as well as developing its adviser network. At AWD, Andrews ran a team of 195 advisers.

He says: ““A significant number of IFAs are very much unprepared for what RDR really means – it is a cultural shift to more accountability and responsibility. This uncertainty will leave advisers and businesses looking for safety and leadership as well as the ability to develop and flourish in the new environment.”

Moneygate chief executive Lee Hartley adds: “Phil’s record stands for itself. It is a fantastic achievement for Moneygate to attract someone of his calibre. I know he is looking forward to enhancing our adviser base and market share as well as helping us to raise our profile in the general marketplace.”   

In July 2011, Moneygate acquired Equus Independent Financial Management and in August it acquired Results Financial. In June 2010, Moneygate bought Beacon Asset Management.

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