Under the tagline ‘More than just a sticky label’, PMS believed its size meant it should be considered more than just a ‘sticker’ mortgage club and its enhanced proposition would help it provide directly authorised (DA) brokers with better products and systems than a network could.
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Steve Atkins, head of PMS, said: “We are on the cusp of a major shift in the DA market which will mirror the IFA market, which saw a shift away from networks. This is a robust and exciting proposition, which will use our established channels, a raised profile and an increased sales team to help DA brokers compete. The gloves are off and we intend to engage ARs about the benefits of the DA model.”
PMS will offer three levels of membership which will allow brokers to choose what components their business needs.
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Member are also offered compliance services, free back office systems and discounted linkages to Trigold and Mortgage Brain, as well as a 25 per cent discount off membership of the Association of Mortgage Intermediaries.
John Malone, managing director of PMS, said: “The needs of our members and the broker market are at the forefront of every development we make, and our enhanced service comes at a time when there are many concerns about the stability of networks.”
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Mike Fitzgerald, sales director at Brentchase Financial Services, said: “PMS is a good organisation but ARs won’t change their status on a whim. PMS will be competing against the larger networks who are also looking to grow and attract people to their propositions.”
