Misys, the UK financial services and healthcare software group, has launched a £7.5m (€11.8m) recruitment drive for independent financial advisers (IFAs), aimed at bringing new advisers into the industry ahead of the planned flotation of its IFA business.

A spokesperson for the company said the deal - which involves a £7,500 package for each new member firm authorised to use Misys networks, including the first adviser and an additional £2,500 for each additional adviser - was a "good offer" for the many firms who find the expense of meeting increasing regulatory requirements to be prohibitive.