Stonebridge, the mortgage and insurance network, has today announced further growth in appointed representative recruitment into the business plus a significant year-on-year growth in mortgage business activity.
24 new advisers were added to the business in September with nine new partner firms joining the network – a record for Stonebridge – including seven-person firm, Ideal Mortgage Advisers.
Part of the network’s focus during 2019 and into 2020 is growing the number of new firms joining the network but also helping existing members recruit new advisers in order to expand their businesses to meet growing demand for mortgage advice.
Stonebridge also announced ongoing growth in mortgage business with £820 million of mortgage applications submitted across the network during September. This was an increase of 15% compared to September 2018.
Mortgage completions also showed a year-on-year increase, reaching £627 million in September, up 17% compared to the same month in 2018.
Stonebridge has also recruited a number of new additions to its wider team including the appointment of Lee Williams as Business Development Manager and Chika Osondu as Business Analyst at Revolution – the trading platform owned by the Group.
On top of this, Claire Chambers has been appointed to the new role of Compliance Operations Manager, overseeing Stonebridge’s appointed representative firms and leading the Business Standards department and its 40 staff.
Rob Clifford, Chief Executive at Stonebridge, commented: “We’re very pleased to be able to announce further growth in our adviser and firm numbers during September, and to welcome nine new partner firms to the network. Our recruitment and national business development team work incredibly hard in this area and we have talked to many potential new recruits during ‘expo season’ over the last couple of months, and we’ll continue to do this in the months ahead.
“Alongside this, we’ve seen year-on-year growth in both our mortgage application and completions, which is particularly pleasing at a time when political and economic uncertainty mean many potential clients are opting for a wait and see approach. Demand for advice however remains very strong and we’ll be supporting our firms to ensure they are able to access the clear opportunities that exist, not just in mortgages, but also our other core areas of protection and general insurance.
“I’m also particularly pleased to announce the promotion of Claire Chambers. After five years in our quality and audit functions, Claire’s appointment is another key internal promotion to a leadership post – colleague career development being a key driver of our culture.
“It has been a very positive period for Stonebridge recently and we are confident that with ongoing appointments to the team, and our focus on bring further quality advisers and firms into the network, that we have a model that will work for any ambitious advisory practice.”