Santander is on a recruitment drive to add to its team of 1,000 in-house multi-tied advisers and says it will consider hiring Barclays advisers.
Last week, Money Marketing revealed Barclays is closing its advice arm, Barclays Financial Planning, and leaving the advice market for retail consumers. Its 1,000 advisers have entered a six-month consultation process.
A Santander spokesman says the decision to recruit is due to customer demand for branch-based advisers.
He says: “We are always on the lookout for talented people, with the view to grow our adviser team.
“If Barclays has the high quality people that we are after, then obviously we would look at them but we are not specifically sending smoke signals out to every Barclays financial planner.”
Santander offers a multitie advice service, advising on pensions, protection and investments from a panel consisting of Royal London, Aviva and Prudential. Its advisers are spread across its 1,400 branches.
AWD Chase De Vere says it is looking to recruit a number of Barclays advisers.
Head of communications Patrick Connolly says: “We are getting a continual inflow of calls from advisers at Barclays and recruitment agencies as Barclays advisers decide where their future lies.
“This is positive as it gives us the opportunity to hopefully access some good quality advisers.”