Just Mortgages has launched a new wealth division as it looks to build on its mortgage advice proposition.
The new service, entitled Just Wealth, aims to have employed 15 advisers by the end of March and at least 25 by the end of 2021. It will be headed up by David Magee, who brings with him over 20 years of experience. Having started his career as an adviser, Magee was responsible for setting up Skipton Financial Services home-based wealth management division in 2004.
Just Wealth will be recruiting new wealth advisers to run their own businesses as part of the division, as well as train mortgage advisers to become wealth advisers. The training will be provided by a Wealth Academy, run in partnership with Openwork. Just Mortgages and Openwork will cover the cost of the course, as well as provide all training manuals and materials needed.
The new wealth division will advise clients nationally through a combination of face-to-face meetings, video conferencing and calls, and will include all areas of financial and investment advice as well as retirement planning.
David Magee, head of wealth, Just Wealth, says: “Having a new wealth management firm launch is really exciting for the UK. Just Wealth will be a real shot in the arm for the industry as we will not only provide new opportunities for existing wealth advisers but also bring in new blood and expand the talent pool. There are currently not enough wealth advisers to serve those clients in need of professional advice, so bringing in new talent is crucial.
“Alongside the new talent that will be trained through the academy, we will also recruit entrepreneurial wealth advisers who want the shackles taken off. This will be a great stepping stone for advisers ambitious to set up their own business but who would welcome the extensive support we will provide. This is a huge opportunity as our parent company, Just Mortgages, has a massive database of potential clients, which our wealth advisers can provide expert advice to.”
John Phillips, national operations director, Just Mortgages, adds: “The Just Mortgages and Just Wealth divisions will work together to provide a seamless service for clients. Being able to offer holistic advice will mean that we can always provide well rounded advice to clients who can come to us for all their financial needs.
“Having such an experienced hand at the tiller is ideal for the new division. David has already shown he can build a wealth management division and with the support of Just Mortgages and our existing client base, we are certain we can meet our ambitious targets.”
