Professional Independent Wealth Advice (PIWA), a new advisory firm formed by ex-Abrdn advice director Neil Messenger, is to join the Sandringham Financial Partners network, part of M&G Wealth.

Mr Messenger, who will be CEO, launches PIWA today after spending two years at Abrdn Financial Planning. He is seeking 16 advisers who will all be stakeholders in the new business.

Prior to Abrdn, he was a partner and national head of wealth advisory with Grant Thornton for 17 years, providing wealth advice to private clients and companies. 

Sandringham is a fast-growing provider of independent financial advice in the UK, with more than 190 IFAs advising on assets of more than £3 billion for over 15,000 clients. It has been part of M&G Wealth since 2021.

Mr Messenger said: “I believe that all our advisers should be stakeholders in the business. We have seen a significant amount of consolidation in the advice sector, with shareholders reaping the rewards from the value created by the advisers. I want to do things differently and believe advisers should share in the value created.”

Tim Grey, managing director of Sandringham said: “We continue to grow the number of advisers in Sandringham, with the support of M&G Wealth, and I am delighted that PIWA, with our shared client-centric values, is joining us.”