Launched earlier this year, the service enables IFA partners to refer a wide range of specialist mortgage and mortgage-related business to an in-house ‘masterbroker’ team who are experts in placing complex or non-standard business.
Referring partners benefit from a share of the adviser remuneration and keeping the business internal enables Positive Solutions to provide a consistently high level of service to clients.
Positive Solutions mortgage manager Paul Rignall said the launch of the Masterbroker service was turning the demise of packagers as a result of the credit crunch into a “win-win” situation.
He explained: “As a top 10 mortgage broker, we have the scale to deal with the business internally and can enjoy the benefits of partners referring the type of business they may not regularly deal with to colleagues who specialise in those areas.”
He added: “It allows the referring IFA access to ensure business is placed while still earning a share of the fees paid. It also creates a new profit generator within the company that will grow further when demand picks up to more normal levels and helps with our recruitment goals by attracting advisers looking for more support.”
