Tilney Investment Management has nabbed a hire from Hargreaves Lansdown’s helpdesk as it builds out its telephone advice service.
Jules McBride joins Tilney’s Bristol office, alongside Matthew Turner, to offer advice to clients across the region.
McBride joins Tilney after eight and a half years at Hargreaves Lansdown (HL), which already has a strong telephone service. He spent six years on the pensions helpdesk working his way up to team leader before joining the adviser apprenticeship scheme. He is a chartered financial planner and has been advising for two and a half years.
Turner has spent three years in financial services, focusing on employee benefits consulting. He has held various management roles within the building and automotive industries, acquiring a business management degree along the way.
Steven Sprague, head of the Tilney telephone advice service, said following the recent hires the firm made in Scotland last month, its telephone advice team now stands at 22 advisers across the country.
“Providing specialist advice to clients over the telephone is a very important part of our business and tailors specifically to those clients who do not require ongoing face-to-face service. Our growing team reflects our dedication to these clients and to the South West region.”
Profitable way to service pots less than £150k
Heather Hopkins, managing director at Nextwealth, said the move to offer phone-based advice is driven by client demand and commercial pressure. “Clients don’t always want to see an adviser face to face and sometimes their queries can be addressed by someone less senior in the organisation,” Hopkins said.
“Also, firms are struggling with profitability given the mounting regulatory burden. Many tell us that they can’t profitably service accounts with less than £100k or even £150k or investable assets. Phone-based advice offers a potential solution.
“We believe these combined forces: client demand for more flexibility and the desire to offer advice to clients with small portfolio values is behind the move.”
Hopkins added that it helps advice firms see competitors such as Hargreaves successfully working with clients via phone.
