Professional services and consultancy firm Moray Group has launched a new financial arm which will offer protection insurance and mortgage advice.
The Moray Financial division will be led by newly appointed managing director Michael Wales and is targeting £300,000 turnover in new business in its first year and a rapid recruitment of advisers.
It will serve mortgage and protection needs for new customers and the group’s existing legal and property brands and customers. The new division will operate on a no-fee basis on the vast majority of cases, meaning costs will be incorporated into preferential rates.
Wales (pictured) was most recently a self-employed mortgage and protection adviser with Mortgage Advice Bureau and has previously worked at RBS and Adam & Co.
Haddington-based Wales will operate between Moray Group bases across Scotland, with a view to having teams of dedicated advisers by mid-2022 in its property firms Simpson & Marwick and Esson & Aberdein.
Wales said: “I’ll be delivering on a plan to grow the Moray Financial brand while we seek to employ likeminded advisers and support staff. We’ll be going on a recruitment drive soon, but would welcome contact from potential candidates immediately.”
Rob Aberdein, chief executive and founder of Moray Group, added: “Mortgages and protection was the clear and obvious next step for our business given how much we have been referring elsewhere.
“Michael is an exceptional talent and the perfect candidate to be at the helm of this new brand, with a potent mix of energy and high-level experience.”