Friends Ivory & Sime is stepping up its assault on the IFA market with the recruitment of a regional sales team.
The move, which follows its recent acquisition of Friends Provident's unit trust business, furthers its bid to become a mainstream retail investment house.
FI&S previously had a minor presence in the IFA market with its range of investment trusts. The Friends Provident retail range and FI&S investment trusts will now be marketed under the FI&S name.
Friends Provident will also continue to market FI&S products through its existing IFA sales channels.
The eight sales recruits will report to FI&S head of retail John Yule and come from several of the UK's top investment houses, including Perpetual and LeggMason Investors. Each has been allocated a UK region where they will head IFA relations. The South-east representative is still to be appointed.
FI&S managing director Gary Mairs says: “These appointments begin to build the Friends Ivory & Sime sales team which will deliver our ambitious aims to become a leading retail player.”