FD hiring for Friends Life referrals

National advice firm Foster Denovo is looking to bulk up its paraplanning team to manage the increased demand generated by its  referral deal with Friends Life.

National advice firm Foster Denovo is looking to bulk up its paraplanning team to manage the increased demand generated by its  referral deal with Friends Life.

Earlier this month Friends Life announced it would refer its customers in need of retirement advice to Foster Denovo in a bid to take advantage of the pension freedoms.

Under the deal, customers who contact Friends Life about their retirement options will be referred to Foster Denovo if they request, or require financial advice unless they already have an adviser.

As a result of the anticipated increase in business, Foster Denovo is on the hunt for three paraplanners in the short term, as well as more advisers in the long term.

The firm currently has a team of 15 paraplanners. It also has a team of 16 advisers who are dedicated to working solely on the deal.

Roger Brosch (pictured), chief executive of Foster Denovo, said: ‘We are in the process of increasing. We are looking expand our research, client service and paraplanning team to be able to cope with the increased advisory needs,’ he said.

Read the full article on New Model Adviser, by clicking here.