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Mortgage Advice Bureau sets up wealth arm

The Mortgage Advice Bureau has launched a wealth management service.

The network, which is also a broker, previously offered only mortgage and protection advice.

Kevin Whelan, director of MAB AR Kingswood Law IFA, has been appointed director of wealth.

The network has started lead generation from its headquarters and hopes to roll out the scheme to advisers in October.

Whelan says: “If you look at the macroeconomic situation at the moment, it is clear that clients need help and they do not just need you to sell them another product, they need help with collecting this information and developing a sensible plan.”

Churchill Investments director Chris Gilchrist says investors would be better served taking advice from pensions and savings specialists. He says: “Investments and savings are far more complicated than mortgages and people should take more time over these decisions. I do not think this will give them what they need to do that.”

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