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Broker firm Moray Financial launches to market

  • 28/01/2022
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Broker firm Moray Financial launches to market
Moray Group, Scotland-based professional services firm, has launched broker firm Moray Financial and announced the appointment of its managing director.


The firm will be headed by Michael Wales (pictured), who joined from Mortgage Advice Bureau – Network Partner, Scotland where he was a mortgage and protection adviser for four and a half years. 

He previously worked at RBS as a private banking manager and Adam and Co as a relationship manager. 

Wales will lead the firm on its target to reach a turnover of £300,000 in new business in its first year. The wider group has set out to reach a turnover of £10m this year. 

Moray Financial will operate on a no-fee basis on some of its cases. A spokesperson said: “The majority of cases will be fee free with the caveat that, if we envisage that a particular application will be time consuming due to its complexity, we reserve the right to charge up to £195. This is detailed in our client disclosure document and will be annotated at the very beginning of any interaction.”

Wales will operate from the group’s bases across Scotland with a view to build a team of advisers in the Moray Group’s estate agent brand Simpson and Marwick and its property law firm Esson and Aberdein.  

Moray Group was launched in 2020 as a tech-focused professional services umbrella group. Its aim is to develop or acquire legal or other professional services firms, with a scope for growth. 

Wales (pictured) said: “The opportunity before us is immense. Immediately I’ll be on hand to serve clients with the group’s successful legal brands. Following early meetings with the senior team, I can see the task in front of us and it’s hugely exciting. Their ambition and drive matches my own.” 

He added: “I’m under no illusions there will be a need to roll our sleeves up over the coming months. We must quickly establish ourselves and deliver the excellence and service levels that are expected of the Moray Group brands. 

“At the same time I’ll be delivering on a plan to grow the Moray Financial brand while we seek to employ like-minded advisers and support staff. We’ll be going on a recruitment drive soon, but would welcome contact from potential candidates immediately.” 

Rob Aberdein, chief executive and founder of Moray Group, said: “Mortgages and protection was the clear and obvious next step for our business given how much we have been referring elsewhere.   

“Michael is an exceptional talent and the perfect candidate to be at the helm of this new brand, with a potent mix of energy and high-level experience.” 

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