The 60-adviser group launched itself as a network – The Finance Planning Group – after  16 years as a Legal and General Appointed Representative (AR).

The West Sussex-based firm applied for network permissions in August 2015 and was authorised in March this year after a delay caused by a backlog of consumer credit applications.

McCutcheon said The Finance Planning Group made the transition with the help of the Huntswood Consultancy, which made sure it submitted everything ‘right first time.’ Most of the hard work was done upfront because it took months of preparation to submit the application, he added.

The mortgage and protection network is the first new network to launch since The Right Mortgage and Protection network in February 2015.

Stephen Smith, director of Legal & General Housing partnerships said the insurer is delighted to be a network partner, adding the firm’s DA authorisation will stand it in great stead.

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“Our erstwhile network relationships have truly evolved into partner relationships, as the L&G Housing Partnerships name evolves,” he added.

For more, read the in-depth exclusive on the network launch here.