The new network completed full authorisation of its 60 new members two weeks ago and network head Richard Adams said he aimed to recruit quality advisers doing volume business.
Stonebridge Group has been an independent broker for 22 years and boss, Richard Adams, said ‘this is the next evolution for us.’
The network decided to become Mortgage Market Review compliant and every new member has passed the Approved Persons test, said Adams.
“We lost a very small number, but the ones we lost were the result of non-disclosure, not of having a past criminal record,” he added.
“It’s key for us to work closely with and know our adviser firms and we establish this bond at the recruitment stage. Stonebridge also keeps a ratio of 40 brokers to each sales manager, where other networks push numbers up to 120.”
He said firms can take as much or as little help from the network as they want with no compulsion, excluding the FSA obligations.
Director of AIFA and AMI, Robert Sinclair said: “I think the real point here is that people clearly still see the value in distribution. While some firms may feel they are struggling they are still here. This shows we are still a business model that has the capacity to deliver.”
For more, read the Q&A with Richard Adams.
