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UK mutual expands advice offering to whole of market – report

According to a report in the UK trade press, the Derbyshire Building Society, a mutual lender based in the Midlands, is to expand its subsidiary Derbyshire IFS to provide consumers with financial advice from across the market.

IFA Online reports that previously the Derbyshire was tied to Norwich Union, however the society now believes the whole of market approach will set it apart from its competitors.

The mutual is to recruit 80 advisers to match the expansion, which the report says is key to its growth strategy.

We are absolutely certain that Derbyshire IFS will provide our customers with the maximum choice available, with our advisers providing advice, not only on new business opportunities, but also on current arrangements held by existing and potentially new customers, IFA Online quotes Mark Blackwell, the Derbyshire’s marketing director, as saying.