AWD Chase de Vere has recruited 17 ex-Barclays Financial Planning advisers and three managers to work in its regional offices.
Former Barclays area managers Dave Fishlock, Steve Hearn and Andrew Pacey have been appointed senior managers of AWD’s Newcastle, Manchester and Cambridge offices respectively.
Eight of the 17 advisers will be based in AWD’s Manchester office, five in Newcastle, three in Cambridge and one in Birmingham.
In January, Money Marketing revealed that Barclays is closing its financial advice arm and AWD says it has been actively interviewing former Barclays employees since then. It says that a significant number of Barclays advisers it interviewed have been rejected.
AWD says the advisers who have been recruited are either qualified to QCF level four or are waiting on the results of their final exams.
Chief executive Stephen Kavanagh says: “We have previously recruited from Barclays and were aware that it employed a number of good quality and highly qualified advisers and managers.
“We are aiming to recruit additional advisers throughout 2011 and beyond as we continue to grow our company.”
Concept Financial Planning managing director Paul Richardson says: “Bringing in a large volume of advisers does not guarantee quality and I would not want to be the person bringing these guys in.
“It will be a difficult transition to come from the bank background they have had to giving quality independent advice.”