The new firm will be an appointed representative of the Mortgage Advice Bureau and the ex-Cobalt staffers onboard include Montlake, Matthew Lowndes, Francois Taljaard, Rob Henderson, Roy Hardy and Rob Gill.
In addition to the core mortgage proposition, the wider Coreco Group will also diversify into a number of other areas, including wealth management led by Gill, commercial property under the stewardship of Xavier Bouhayed and Henderson.
Although Lowndes will function as acting managing director at the new firm, Montlake, communications director at Coreco Group, says the new firm will function as an equal partnership.
He says: “As the working environment at Cobalt Capital became increasingly strained, myself and a handful of colleagues felt that, between us, we had the necessary skills and standing within the industry to set up our own brokerage based on the foundations of trust, equality, camaraderie, loyalty and integrity.
“We are very fortunate to have been joined by some of the cream of Cobalt Capital’s consultants who together made up the core of Cobalt, and we will be looking to add to this team. We will continue to offer the very best independent mortgage and financial advice, and unrivalled service levels. We are all very excited by the challenge of launching and growing a new brand.”
Peter Brodnicki, chief executive of MAB, says: “The strategic and cultural fit between the Coreco Group and MAB could not be closer and therefore the opportunities are endless.
“The experience, vision and passion of the management team will ensure that the Coreco Group will quickly become a major player and attract the leading and most ambitious advisers. We are delighted to be involved with this very forward thinking company.”