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MAB grows adviser numbers by 13% in 2018

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  • 22/01/2019
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MAB grows adviser numbers by 13% in 2018
Mortgage Advice Bureau (MAB) increased its adviser numbers by 13% last year, as average revenue per broker edged up.

 

In a trading update, the network and broker group said revenue for the year ending 31 December 2018 increased by 13% to £123m.

The increase was driven by an uplift in the average number of advisers to 1,213, from 1,130 a year earlier.

The average revenue per adviser also increased by one per cent, against a backdrop of economic uncertainty and falling housing transactions, MAB said.

The group’s profit before tax for the year ended 31 December 2018 is in line with expectations and will be detailed in final results in March.

MAB said current indicators confirm UK Finance predictions of relatively flat mortgage lending in the near term.

However, the group noted that intermediaries are continuing to grow their share of product transfers.

And MAB is also set to capitalise on protection initiatives, as well as updates in broker technology, according to chief executive Peter Brodnicki (pictured).

The group is on track to deliver the first phase of its MIDAS technology system in the first half of this year.

Brodnicki said:  “This initial phase and further releases across 2019 and 2020 will benefit MAB advisers and customers, through improvements in efficiency, productivity, lead generation, product offering and customer experience.

“We are excited about how delivering this will help us to attract more advisers and customers into MAB, assisting our future growth plans.”

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