There were some stories during this quarter that may not have caught everyone's attention within the network.
As Network Consulting founder Paul Day points out, an unknown mortgage network was recently advertised on the Forbes Burton Business Consultants website for sale. It was. 
“Consolidation is inevitable, but as we have written previously, new challengers will enter the market and more products will be introduced.Secondly, HL Partnership is one of South Africa's leading companies. It has announced what it calls a “strategic investment” from Better Home Group. ”
He added: “It is no surprise to note that MAB does not appear to be recruiting new companies in 2024. However, all new companies appear to be joining Mortgage Advice, another company within the group. It has been revealed that he has been hired by Bureau (Derby) Limited.” Therefore, it was not included in the previous table. This issue has now been fixed and now includes the correct number of participating companies. ”
Looking specifically at the latest network league table data produced by Network Consulting, Day says it looks as though John Charcol has cost the company a huge amount of money. However, most of the firms that appear to have exited are single advisory firms, with many of the advisors remaining as RIs under John Charcol.
“They just rebuilt their AR model after LSL completed their acquisition of John Charcol in April, so it’s clear it’s not as bad as it seems,” he explains.
The network with the biggest growth in the mortgage market is The Right Mortgage Network, with 32 companies in net profit since the beginning of the year, but it's also worth mentioning TMG, which has grown by an impressive 29.7% since the beginning of the year. There is. Cornerstone followed closely with a growth rate of 24.6%. TMG experienced its first corporate loss of 2024 in the third quarter, losing 12 companies. This was because 11 new companies entered the market during the same period, resulting in a net loss of one company.
The FCA register does not have the ability to monitor new and retired mortgage advisers, but by using data taken by Network Consulting at various points throughout the year, we can monitor the number of mortgage advisers across the networks shown. There was a net increase of 334 cases.
Mr Day explains that this is not affected by the omission of MAB's new company, but slightly as Sense Network appears to have added mortgage authorization to a number of advisers it did not previously have. It is said to be distorted. So the actual increase in advisors over the same period is closer to 130, which is still encouraging.
“The network has some very strong propositions, and despite John Charcol’s 35 “false” losses, the network model continues to see net growth in new companies year-to-date through the third quarter. There is. Choosing the right model for your advisor business is essential for a long-term, profitable, and uninterrupted journey. There's a product to suit most businesses, and more options are likely to hit the market next year. ” concludes the day.
Network Total number of AR companies Number of AR companies joining by 2024 Number of AR companies leaving by 2024 Net percent change in number of AR companies by 2024 Net percent change in AR companies in Q3 2024 Number of advisors Mortgage licenses based on FCA registration (CPD20 and CPD21) Average number of mortgage advisers per firm St. James's Place Wealth Management Plc 2786 186 133 53 1.9% 26 1382 0.5 Primis*† 1125 47 77 -30 -2.7% – 19 2316 2.1 Quilter * 707 37 46 -9 -1.3% 1 1406 2.0 Stonebridge Mortgage Solutions Ltd† 647 69 55 14 2.2% 7 1150 1.8 Openwork Limited 612 16 49 -33 -5.4% -9 2438 4.0 HL Partnership Limited† 490 44 31 13 2. 7% 5 866 1.8 The Right Mortgage Limited† 395 63 31 32 8.1% 10 687 1.7 2Plan Wealth Management 268 46 11 35 13.1% 8 384 1.4 Sesame Limited† 243 5 13 -8 -3.3% -4 560 2.3 The Online Partnership Limited* 238 18 20 -2 -0.8% -2 299 1.3 Connect IFA Ltd† 210 45 21 24 11.4% 10 210 1.0 Mortgage Advice Bureau Limited 186 18 16 2 1.1% 3 1907 10.3 New Leaf Distribution Limited 170 23 14 5.3% – 2 252 1.5 Sense Network* 169 18 9 9 5.3% 4 386 2.3 ValidPath Limited 144 42 1 41 28.5% 14 54 0.4 Mortgage Intelligence Ltd† 143 6 10 -4 -2.8 % 0 339 2.4 Best Practice IFA Group Limited 127 13 7 6 4.7% -1 102 0.8 White Rose Finance Group Limited†** 110 29 11 18 16.4% 5 33 0.3 TMG Direct Limited† 91 38 11 27 29.7% -1 265 2.9 Julian Harris* 75 3 6 -3 -4.0% -1 96 1.3 Limited benefit† 71 16 24 -8 -11.3% -3 78 1.1 Cornerstone Financial† 65 21 5 16 24.6% 9 175 2.7 Rosemount Financial Solutions (IFA) 65 6 3 3 4.6% 1 101 1.6 Dragon Brokers Limited† 64 28 27 1 1.6% 4 76 1.2 Corbel Partners 52 3 3 0 0.0% -1 60 1.2 Richdale Brokers 42 12 4 8 19.0% 5 30 0.7 John Charcol Limited† 31 1 35 -34 -109.7% -35 163 5.3 Pi Financial Ltd 30 0 3 -3 -10.0% 0 73 2.4 JLM Mortgage Network† 29 3 2 1 3.4% 3 92 3.2 Ingard Financial† 26 1 6 -5 -19.2% 0 34 1.3
* indicates multiple principals (networks) trading under one network brand
† indicates a network that only holds lien and protection rights
** Specializing in consumer finance
Source: FCA Register
Figures are as of October 10, 2024
