The Adviser Alliance launches at the end of the month, and plans to initially cap membership at 250 brokers. It promises a different club model, charging a “modest” subscription fee which means that the brokers enjoy all of the proc fees earned on the business they place.
Martin Stewart, co-founder and director of The Adviser Alliance, confirmed that 150 brokers have so far expressed an interest in joining the club, and said that the tie-up with Brilliant Solutions meant “another key piece of the jigsaw is now in place”.
He added: “It’s real, it’s happening and the levels of interest from brokers and lenders alike is huge.”
Matthew Arena, managing director of Brilliant Solutions, said that by “stripping the proposition right back” it could help The Adviser Alliance to offer a 100% profit share on all proc fees.
He added: “This is a big moment for the many brokers in the market who just look at mortgage clubs as a payment route. We are proud to have been selected to deliver it.”
The Adviser Alliance is starting with mortgage products, but will extend its offering to deliver a range of other services, all designed to help brokers build and improve their business.