The UK arm of Spanish banking giant Santander is set to re-enter retail investment advice market after abandoning the sector nearly three years ago.

The bank has re-started offering branch-based investment advice to clients nearly three years after it was slapped with one of the biggest fines for giving unsuitable recommendations.

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The bank employed 800 staff when it closed its investment advice division in March 2013.

Santander UK plans to have new team of 225 advisers by the end of March 2016, which will only target clients who have more that £50,000 to invest.

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