The growing Bristol-based company says the new arm will offer Financial Planning and wealth management to a range of clients from offices in Bristol, London and Manchester.

Iain Black, former owner of Deverill Black, is managing director of the new firm. He will be working alongside partners Alex Nicklin, head of private client and Carl Tuttiett, head of Financial Planning. Both Mr Nicklin and Mr Tuttiet are ex-Tilney.

The launch is the group’s second subsidiary launched within the last 12 months after it set up Brunel Employee Benefits in September.

Brunel Wealth will initially operate from Brunel Group’s head office in Bristol, adding to the 70 members of staff already in Bristol. The company says recruitment for the London and Manchester offices is under way.

Brunel Wealth will provide Financial Planning and wealth management to private clients, businesses, business owners, high-net-worth individuals, charities and trusts.

Managing director Iain Black said: “I am excited to be involved in the launch of Brunel Wealth and the opportunity to build the highest quality financial advice and wealth management business.”

“With Carl and Alex on board at launch we have demonstrated our commitment to building a professional team capable of providing the highest quality advice to clients from day one. We will add further quality to the team in both advice and administration in the coming months.”

Group chief executive Russell Lane said: “Following huge growth across the group, I am delighted to welcome Iain, Alex and Carl to head up our new financial services business, all of whom have distinguished reputations within the industry.

Brunel Group has 12,000 professional clients and employ over 130 staff with offices in Bristol, London, Manchester, Perth, Weston-super-Mare, Bovey Tracey and Portishead.

The company has no connection to Brunel Capital Partners, also a Financial Planning firm.