Howells will support the handover process before he leaves. Howells joined LSL in 2023 as chief operating officer, before progressing to group managing director. In his time at LSL Financial Services, Howells has led the division through a transition and the group said he laid the foundation for its next stage of growth.
Nowosad will lead the financial services division, with responsibility for its subsidiaries Primis, TMA Mortgage Club, Novium and Linear. In the meantime, the board will undergo a recruitment process for a permanent managing director.
Nowosad has more than 10 years of experience in executive leadership managing regulated businesses, including financial services and energy. He was most recently managing director of consultancy and private investment advisory firm AEL Capital Partners, and before this, was CEO of Compliance Group.
He has also spent time meeting with advisers, distribution partners and colleagues across LSL Financial Services, with an aim to shape the next stage of its growth.
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A change of gear, not direction
Nowosad (pictured) said it was an “exciting time” for the sector as the role of professional advice had “never been more important”.
He said people needed “expert guidance” to navigate the market, while protection and technology provided opportunities for advisers to enhance their business and client outcomes.
Nowosad added: “LSL Financial Services is uniquely placed to lead that opportunity. We have outstanding businesses in Primis, TMA, Novium and Linear, exceptional colleagues, deep relationships with lenders and providers, and one of the strongest adviser propositions.
“My ambition is to change up a gear. That means making our advisers even more successful by improving productivity, investing in technology and delivering even greater value through the strength of our partnerships. We won’t be changing direction so much as building on the strong foundations already in place and accelerating that momentum.”
He said he would be meeting colleagues across the division in the coming weeks, adding: “The people closest to our business know where we can make the biggest difference, and I want to hear their views. We’ll listen carefully, make clear decisions and focus on the practical improvements that help our advisers, partners and customers succeed.”
Nowosad said: “I’m incredibly optimistic about the future. We have a market-leading platform, exceptional brands, talented people and a tremendous opportunity to shape the future of mortgage and protection advice in the UK.”
In its most recent results covering the 2025 financial year, LSL’s financial services division saw its profit rise 28% to £11m year-on-year, while its market share grew from 11.8% to 12%.
