Towergate is to offer financial advice through branches of West Brom Building Society.
Whole of market, face-to-face advice on investments, pensions and protection will be offered through West Brom’s 37 branches in the West of England and Wales.
West Brom previously partnered with Axa to offer branch advice but the building society was forced to find a new partner after Axa pulled out of advice last summer.
The service will be staffed by 20 employees currently working with West Brom. They will be employed by Towergate and offer the advice service in-branch.
West Brom sales director Richard Hopwood says: “We know that localised financial advice is a service our customers value very highly and having already made a significant commitment by becoming RDR compliant it was something we were determined to continue with.
“Towergate has an excellent reputation within the building society sector and teaming up with them will greatly improve our customer proposition.
“At a time when a growing number of providers are withdrawing from the provision of financial services on the high street, we are pleased to be developing our approach and offering customers an even greater choice.”
Towergate chief executive Warren Page says: “As banks and other product providers continue to exit from the advisory space, limiting the availability of this much needed advice to a small range of individuals who hold a significant of amount of capital or are in receipt of an annual income well outside of the average in the UK, we at Towergate Financial passionately believe that this will result in most people not knowing where to go to obtain high quality financial advice.”