Financial advice network New Leaf Distribution has appointed Daniel Hobbs as chief executive, subject to regulatory approval.

The network says Hobbs will become the youngest network leader in financial services history, at just 35 years old.

He will take on the role from Mark Hobbs, who will transition to chairman once FCA approval is granted and who will continue to provide strategic direction and support to the new leadership team.

Current investment director Sam Wallis will assume Daniel Hobbs’ previous position of managing director.

The company says it plans to enhance development opportunities for mortgage brokers, allowing them to specialise in, and potentially transition to, financial adviser roles.

Daniel Hobbs says: “I’m incredibly honoured to be taking on the role of CEO at New Leaf Distribution.

“I’ve been fortunate to learn from Mark’s guidance over the years, and I’m excited to leverage that experience to build upon our success and explore new opportunities, particularly in the advice gap space.

“As always, we remain committed to being known as the network that knows your name and that places a cap on the number of advisers it works with to ensure quality and service standards are unrivalled. Advisers choosing to partner with New Leaf will be valued and respected.”

Mark Hobbs adds: “We’re excited to launch some incredible initiatives in the coming months, all focused on the future and addressing the advice gap. We’ll continue to build the best offering for IFAs and brokers in the UK, with a focus on quality over quantity.

“This is a new chapter for New Leaf Distribution and we are confident that Daniel and Sam will lead us to even greater success.”