The network currently has 23 appointed representative (AR) firms but hoped to increase this to 60 by the end of the year, with the ultimate aim of becoming a top five network in 2009.
Karen Butt, head of group sales & marketing at PNG, believed the group’s ethos would make it a draw at a time when many ARs felt let down by their current principal.
“2008 is a pivotal year for PNG and we have major plans to expand the number of AR firms under our network proposition and broaden our reach across the whole of the UK.
"From the soundings we are taking in the marketplace, we know that many AR firms are disillusioned with their current principal and are looking for a more personalised service from a network that has their best interests at heart.
"Most AR firms currently feel uncared for – a number on a list – and PNG exists to ensure that these intermediaries can make the most of their business and feel confident they are being looked after.”
Martin Cave, managing director of Home Loan Partnership, commented: “We do have the scope to recruit from the larger networks as we pride ourselves on having personal contact, instead of leaving people feeling isolated.
"However, a lot of directly authorised brokers are starting to see the Financial Services Authority flexing its muscles and they are concerned by that.”
