Mr Messenger will be chief executive of the new firm.

He spent two years at Abrdn Financial Planning before which he was a partner and national head of wealth advisory with Grant Thornton for seventeen years.

He is seeking a further sixteen advisers to join PIWA, who will all be stakeholders in the business.

Mr Messenger said: “I want to hear from motivated and passionate advisers who are excited to be stakeholders and part of PIWA. 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.”

He said he will offer a flexible working environment, state-of-the-art technology, and ongoing training and development opportunities.

Sandringham is a fast-growing provider of independent financial advice, with more than 190 IFAs advising on assets of more than £3bn for more than 15,000 clients.

Sandringham is part of M&G Wealth and has benefited from wider support – doing more non-client tasks for each adviser – affording more time and resource to focus on client activity.

Tim Grey, managing director of Sandringham said: “With over 30-years of experience in the financial services industry, and a fantastic reputation Neil has built teams of advisers enthusiastic about providing an exceptional client experience.

“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.”