Aegon-owned national IFA Positive Solutions is in talks to recruit 40 ex-bank advisers from Lloyds, Royal Bank of Scotland (RBS) and NatWest.
PosSol chief executive Peter Coleman (pictured) said the firm wanted to take advantage of the banks’ recent decisions to withdraw their branch advisers for mass-market clients.
In June, RBS announced it would cut 600 advice roles, closing its IFA arm but retaining a restricted service.
In September, Lloyds revoked previous plans to have a face-to-face service for the mass market, and instead announced it would only offer advice to clients with more than £100,000 to invest.
Coleman said: ‘It’s nice to offer a home to advisers who would otherwise be without one. We’re looking for high-quality advisers that are trained well with an entrepreneurial ability and who can be successful IFAs.’