Just Mortgages has launched a wealth division, which will be headed up by David Magee.

The new division called Just Wealth, aims to have 15 advisers by the end of March and at least 25 by the end of 2021.

The advisers will be self-employed and have the autonomy to run their own businesses, however, will benefit from leads provided from Just Mortgages’ database.

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As well as looking for experienced wealth advisers, Just Mortgages intends to train mortgage advisers to become wealth advisers through its Wealth Academy, which is run in partnership with Openwork.

Openwork and Just Wealth will cover the entire fees for the course and provide all the training manuals and materials needed to pass the course.

David Magee, head of wealth at Just Wealth, said: “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; along with compliance, business development and training support, we will also provide leads.

“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.”