Stonebridge says the investment by Shepherd Direct will enhance its financial strength and give it the ability to make further improvements to its proposition as it continues to increase its UK footprint and become one of the market’s leading players.
Stonebridge already has 175 appointed representative firms within the network and is looking to increase this number significantly by the year end.
It also has plans to expand the number of directly authorised firms who use its point of sale system, Revolution, together with its mortgage, protection and general insurance panels.
Commenting on today’s news, Richard Adams, managing director of Stonebridge, said: “This marks the next step in the evolution of Stonebridge Group and will enhance our position as a major player in the mortgage and protection network market.
“The operations of both groups overlap without competing and by working together we will be able to secure additional benefits and operating efficiencies. The financial stability and logistical support provided by Shepherd Direct will enable us to further develop our already market-leading proposition in order that we are able to continue the significant growth we have achieved over the past two years.”
