While Stonebridge did not reveal its figures, it attributed the increase to a strong focus on protection advice and sales over the year.

Stonebridge Group has 37 ARs, with 107 registered individuals, alongside a wealth management arm and a business solution software system, Revolution.

Richard Adams, managing director of Stonebridge Group, said: “Our results for the Stonebridge network operation are particularly pleasing and seem to justify our focus on quality not quantity when it comes to recruiting AR firms.

“Over the last few years we have seen only too clearly the problems that come when networks are run based purely on AR numbers rather than a focus on recruiting quality firms who are conducting significant levels of business.”

He added: “There is no doubt that the strength in our results came from an increasingly focused approach to the protection market which was absolutely vital given that mortgage volumes and activity are nowhere near the levels of a few years’ previous.

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“Having said that, mortgage activity appears to be improving slowly and we fully anticipate that 2011/12 will see a much more fruitful mortgage market for our firms.

“We aim to maintain this approach which has delivered such sound results and fully anticipate announcing a series of new developments, including the recruitment of more AR firms, throughout the rest of the year.”