Adviser network Tenet is set to launch a restricted advice arm, following a successful pilot exercise involving a number of firms.
A spokesperson for the business told Professional Adviser they "expected" all the firms involved in the pilot would become a part of the restricted arm.
Group operations director Helen Ball said: "We have been piloting our defined restricted proposition and it is due to be made available to interested members early this year. We continue to promote adviser choice - advisers will be free to adopt this approach rather than developing their own."
New managing director
Tenet offers several services alongside its own financial advice firm, Aspire Financial Management. Tenet Connect is a network that provides services to investment advisers, Tenet Select gives compliance and business development support to directly authorised adviser firms and Tenet Lime is a network for mortgage and protection advice firms.
In additional to its foray into restricted advice, the network has appointed a new managing director of Tenet Lime. Simon Broadley will head up the mortgage and protection arm of the business as well as taking on the newly created role of adviser propositions director across the wider Tenet Group.
Broadley has more than 20 years' financial services experience and was most recently head of insurance and investment at Yorkshire Building Society Group. He joined Tenet on 4 January, and will sit on the board.
Chief executive Martin Greenwood said: "Simon brings with him a wealth of experience covering both the mortgage and investment sides of the industry and his core skill sets will help our advisers develop their businesses in a commercial but compliance-focused manner."
Broadley added: "I'm looking forward to continuing to enhance the great support Tenet provides for its members and helping adviser firms both to navigate through challenges and maximise the opportunities within their business."
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