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M&G Wealth eyes acquisitions in UK advice market

As it plans to grow its self-employed advisory arm

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The recently created wealth management arm of M&G has hired Tim Clark as recruitment and acquisition director.

He joins from Loyal North where he developed an M&A strategy to attract advisory businesses across the UK, M&G Wealth said.

Clark previously held senior roles within recruitment and development at Tavistock Investments, Benchmark Capital, The Lighthouse Group, Edward Jones, AMP and General Accident.

The hire follows the rebranding of Prudential Financial Planning and platform Ascentric under M&G Wealth.

The firm said Clark’s appointment complements its growth plans for the self-employed advice arm The Advice Partnership (Tap), which recently opened an adviser academy as well.

Clark will be responsible for recruitment and M&A activity, with a strong focus on increasing Tap’s size and bringing fresh talent to its academy.

Filling the advice gap

Chris Haines, chief executive of M&G Wealth’s advice business, said: “Tim has a unique and powerful knowledge of recruitment and acquisition in the financial services sector. He has achieved significant success throughout his career, helping a range of UK financial services organisations to successfully grow, develop and capitalise their businesses in a dynamic, profitable and fully compliant manner.

“Tim has a well-regarded network of advisory and recruitment contacts at both firm and individual level throughout the UK. He is a proven developer of existing recruitment and acquisition operations and I am delighted to welcome him to my leadership team as we seek further sustainable growth”.

Clark added: “There is a well-marked need throughout the UK to address the financial advice gap. M&G Wealth has a clear and progressive strategy to play an important role in that while being fully focused on delivering better outcomes and experiences for its clients.

“There is a collective power and strength throughout the organisation to support scaled and responsible growth – in partnership with the wide range of high-quality advisers and businesses that exist across the UK.

“I look forward to having discussions with these advisers and firms whether restricted, independent, starting-out, looking for an agreeable exit or just simply looking to grow their business for the future alongside a dynamic and understanding partner”.

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