IFG Financial Services has picked up the introducer contract for UHY Hacker Young Chartered Accountants subsidiary UHY Financial Planning (Manchester) from AWD.
The contract is coming with Paul Barber, a former manager in the wealth management division at AWD, who is moving to IFG in what the firm is calling the first-ever poaching of an adviser from AWD.
Barber joins IFG as Northern regional manager and the introducer arrangement with UHY has followed him, as have his 50-plus professional footballer private clients.
Barber, who was with AWD for around eight years, says it was his prohibition from giving advice as a manager that prompted his move.
He says: “I was a manager at AWD and when they started saying that a manager could no longer deal with clients I thought it was time to look elsewhere. Now I am back to being a player-manager and am looking forward to continuing giving advice, as I have done for 20 years.”
AWD investments manager Anna Bowes says: “We believe that managers manage and there is a conflict of interest if they have their own clients and targets to consider – we prefer it if the managers are dedicated to managing their staff.
“These things happen in business and really it is a testament to us. If we have good advisers, people will make offers to try and poach them but we have plenty of good people.”