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Mint targets advisers from rival networks

IFA network Mint is hoping to attract more advisers from rival networks, having already recruited at least 30.

Mint, which was set up a year ago, presently has 81 advisers and chief executive Paul Gains says he hopes to recruit 50 new advisers a year.

He says 25 of the 81 advisers came from Positive Solutions and a few have come from Berkeley Independent.

Gains says Mint has recently brought an ex-Zurich senior manager on board as a recruiter and is looking to target Zurich members as he says there is unrest at the network. He says seven Zurich members have joined Mint.

He believes Mint is also picking up directly authorised IFAs because of its business model which is 100 per cent based on technology. The firm aims to have 250 advisers on board in five years.

Forty-five per cent of Mint&#39s business comes from protection but it also advises on mortgages, life insurance, investments and retirement planning.

Gains says: “We are run from a relatively modest office, with just 10 backoffice staff. We could almost double our adviser numbers with just those staff but we have got three recruiters out there and daily enquiries. Our technology offering means we can reduce costs significantly.”

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