L&G Network takes on 42 Co-op advisers

Legal & General Network has recruited 42 of the 670 former Co-operative Financial Services field-based advisers who were made redundant in July.

Over 300 of the former Co-op advisers have joined distribution firms following the redundancies by Co-op Group after a strategic review.

The latest recruits have joined a range of firms which are part of Legal & General Network, with 23 advisers already approved as appointed representatives and a further 19 applications being processed.

All the advisers who join L&G will be tied, selling Legal & General mortgage, protection and general insurance products.

In December, Openwork took on 75 former Co-op advisers. Personal Touch Financial Services has recruited 55 advisers, Intrinsic has taken on 30 and is waiting for authorisations for a further 30 while around 50 have joined Sesame.

Baronworth Investment director Colin Jackson says: “The fact that firms are taking these guys on in this financial climate is something to be thankful for.”