Towergate Financial is to offer financial advice through West Bromwich Building Society branches.
Towergate will offer independent, face-to-face advice on investments, pensions and protection through West Brom’s 37 branches.
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, who will now be employed by Towergate.
West Brom sales director Richard Hopwood says: “We know 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.”
Independent financial consultant Richard Hobbs says: “It is strange that two financial institutions – Axa and Towergate – have totally different risk appetites on supplying advice. People are getting richer and older so the demand for advice in branches will grow.”