A new Midlands financial planning service has been launched by an IFA network that said it spotted a gap in the market.
Sense Network set up Common Sense Financial Planning (CSFP) in Lichfield, saying people were looking for more personal and consultative advisory service in the area.
CSFP will be led by Stuart Evans, who has 18 years of financial advice experience under his belt. He previously worked at the specialist financial planning arm of the West Bromwich Building Society.
The firm will employ a team of three people at first, but said it had “ambitious” plans for future growth within the region and plans to at least triple the size if its team in the next couple of years.
Mr Evans said: “With the average Briton thought to be £40,000 poorer as a result of the credit crunch, the majority of people are understandably nervous and in some cases confused and even angry about the effect the weakened economy is having on their financial position.
“The average person will have seen the value of their wealth fall by around 28 per cent since the start of the economic downturn – this means that is now more important than ever that people ensure they take the best possible financial advice – after all, by having the right financial plan and professional support in place, they could limit their overall loss and ensure they enjoy a far healthier recovery when the economy begins to improve.”
The firm deals with pension planning, life assurance, income protection, investments and mortgages. Mr Evans said it was impossible to overstate the importance of pension planning.
He said: “With new legislation being brought out on a regular basis, it can be very difficult to keep track of what options are available with regard to retirement planning. With help from a specialist adviser, we hope to explain all of the options that are available in plain and simple language, helping our clients to best plan for their future.”