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Marketplace MD aims to recruit 100 advisers

The MarketPlace at Bradford & Bingley is aiming to recruit 100 IFAs in the next six months and develop a wealth management service, according to new managing director Peter Barrett.

Barrett, 35, joined the IFA from Centrica where he was managing director of Goldfish and was behind the strategy for the recently launched AA IFA. He has worked in financial services for 17 years.

As part of the drive to maintain and expand on the MarketPlace&#39s brand name and position as the UK&#39s number one IFA and estate agency network, Barrett aims to add to its 804 RIs by taking on at least 100 more over a six-month period.

He says this is a minimum target and more could be recruited.

Barrett also intends to dev-elop the company&#39s training and development programme and says he has been in discussions with B&B group chief executive Christopher Rodrigues about creating a graduate training scheme.

Barrett wants to widen the MarketPlace&#39s product offering to develop a wealth management service to complement its mass-market appeal and attract more high-net-worth individuals.

He concedes that the advice the company offers meets the vast majority of customer needs but some people have more complicated requirements in areas such as tax planning and offshore investments, which it cannot currently fulfil.

Barrett says: “The MarketPlace is a mass-market proposition and I will be looking closely at how to target high-net-worth individuals and meet more complex needs.”

Rodrigues says: “Peter&#39s role is to build on an excellent start and firmly establish the MarketPlace as the UK&#39s number one independent financial and property retailer.”

Profile, p37


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