The West Brom is partnering with Towergate Financial to provide customers with independent financial planning and advice services.
The UK’s seventh largest building society is offering face to face advice through its 37-strong branch network which spans Birmingham, the Black Country and parts of Shropshire and mid Wales.
Towergate will deliver whole of market solutions combining investment, pension and protection products on behalf of West Brom customers.
Richard Hopwood, the Society’s Sales and Marketing Director, said: “We know that localised financial advice is a service our customers value very highly and having already made a significant commitment by becoming RDR compliant it was something we were determined to continue with.
“Towergate has an excellent reputation within the building society sector and teaming up with them will greatly improve our customer proposition.
“At a time when a growing number of providers are withdrawing from the provision of financial services on the high street, we are pleased to be developing our approach and offering customers an even greater choice.”
The team of 20 advisers and managers who were previously employed by the West Brom have all now transferred over to Towergate to take up roles as Independent Financial Advisers. They will continue to be based in the building society’s branch network, ensuring continuity for existing investors and ease of access for new clients.
Towergate Financial, part of the Towergate Group, is a leading independent insurance intermediary.
Warren Page, Chief Executive of Towergate Financial, commented: "As banks and other product providers continue to exit from the advisory space, limiting the availability of this much needed advice to a small range of individuals who hold a significant of amount of capital or are in receipt of an annual income well outside of the average in the UK, we at Towergate Financial passionately believe that this will result in most people not knowing where to go to obtain high quality financial advice.
“I am delighted and proud to have been appointed by the West Brom as partner of choice to be able to offer customers bespoke financial advisory solutions. Our advisers search the entire financial market to find the perfect blend of products. We believe in building long term relationships to ensure that customers are constantly in control, feel understood and valued, and trust that their finances are in the very best home.”