More than 30 RIs are being sought by Ian Millward and Toby Strauss for an ambitious national IFA business they aim to launch by the end of autumn.
Millward, who left RJ Temple three months ago, says he hopes to have recruited most of the advisers by Christmas, when the as yet unnamed company has been established.
Unusually, the business, which will target high-net-worth clients, will feature its own range of Sipps, Ssass, Isas, Peps and offshore bond wrappers.
Millward says he and former Charcol managing director Strauss, who will be chief executive of the new business, are negotiating terms directly with fund groups, with the aim of using trackers more readily than most IFAs. He believes trackers offer better value for money to clients.
The firm, which will offer the choice of fees or commission-based advice, is believed to an arm of private-client specialist John Scott & Partners.
Millward says, with the quality of advisers it will have recruited by launch, the new business will be among the better-quality players in the market. He says: “Most of the big firms give appalling advice and virtually no service. Many of their clients have been done a disservice and we feel there is a need for a company that does the job right.”