Former Sesame distribution director Nick Kelly is launching a national advice business that will offer face-to-face, online and telephone-based service.
Alexander House Financial Services will launch in July subject to Financial Conduct Authority approval.
Kelly left Sesame in November amid a reshuffle of the network’s executive team.
He is joined at Alexander House by chief operating officer Jane Hodges and IT director Rod Reed.
Hodges and Reed have both joined from IT consultancy Total Plus.
Former 1st Exchange managing director David Child will be non-executive chairman.
The Alexander House telephone-based service will initially offer only annuity and protection products.
The firm says it is too early to say how many advisers it will have at launch but aims to have 200 within the first two years.
It adds it will monitor its advice process by recording all client meetings and employing mystery shopping exercises.
Kelly, who is chief executive of Alexander House, says: “In our view we are creating a new, scalable and innovative business model.”
PMI Independent Financial Advisers director John Stewart says: “It will be very difficult for this business to bring in 200 advisers at a time when most advisers have already made their move.”