An increasing number of advisers are taking on ex-bank advisers, but what benefits and risks does this afford? Nicola Brittain takes a look.
With banks such as Barclays, Santander and others having cut their advisory divisions, there are an increasing number of ex-bank advisers in the market. But opinion remains split on whether these people are likely to be an asset or a hindrance for the employing company. Alpha Investments and Financial Planning director Alan Solomons is not alone in voicing concerns about ex-bank staff, considering the vast majority of customer complaints to the Financial Conduct Authority have been regarding banks. "I would be wary of dealing with bank advisers, wary of their ethics, training and tech...
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