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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.”



Ex-James Hay duo buy SSAS firm

Former James Hay duo Richard Mattison and Jane Davies have bought Manchester-based pension provider Whitehall Group. It was set up by a Stockport firm of chartered accountants in May last year to target the SSAS sector. The SSAS pricing structure aims to mirror a low-cost Sipp, with a set-up fee of £250 and a £250 […]


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