The wealth arm aims to have 15 advisers by the end of March and at least 25 by the end of the year.
The advisers working under the Just Wealth brand will be self-employed and have the autonomy to run their own businesses.
Just Mortgages is part of the Spicerhaart estate agency chain.
The firm's new wealth advisers will have access to business development support, supervision and compliance and Just Mortgages’ 40,000-strong client database.
Just Wealth will be headed by David Magee who previously set up Skipton Financial Services’ home-based wealth management division in 2004.
Advisers for Just Wealth will advise nationally through face-to-face meetings, video conferencing and calls.
As well as recruiting experienced advisers, Just Wealth will also train mortgage advisers to also become wealth advisers. The training will be provided by Wealth Academy and will be run in partnership with Openwork. Openwork and Just Wealth will cover the fees and provide all training materials. Just Mortgages is a member of the Openwork network.
David Magee, head of wealth at Just Wealth, said: “Having a new wealth management firm launch is really exciting for the UK. Just Wealth will be a real shot in the arm for the industry as we will not only provide new opportunities for existing wealth advisers but also bring in new blood and expand the talent pool. There are currently not enough wealth advisers to serve those clients in need of professional advice, so bringing in new talent is crucial.
“Alongside the new talent that will be trained through the academy, we will also recruit entrepreneurial wealth advisers who want the shackles taken off. This will be a great stepping stone for advisers ambitious to set up their own business but who would welcome the extensive support we will provide; along with compliance, business development and training support, we will also provide leads. This is a huge opportunity as our parent company, Just Mortgages, has a massive database of potential clients, which our wealth advisers can provide expert advice to.”
John Phillips, national operations director for Spicerhaart and Just Mortgages, said: “The Just Mortgages and Just Wealth divisions will work together to provide a seamless service for clients. Being able to offer holistic advice will mean that we can always provide well rounded advice to clients who can come to us for all their financial needs.
“Having such an experienced hand at the tiller is ideal for the new division. David has already shown he can build a wealth management division and with the support of Just Mortgages and our existing client base, we are certain we can meet our ambitious targets.
Just Mortgages is one of the largest mortgage brokerages in the UK with almost 500 mortgage advisers working on either an employed or self-employed basis.