In quarter two this year 13 firms joined the network while seven further brokerages have decided to join in the weeks since then bringing Stonebridge’s total number of AR firms to 120.
Richard Adams, managing director of Stonebridge Group, said: “Having added 16 new AR firms to our ranks and increased our mortgage business by 23% in 2012 our main target for 2013 was to keep attracting new AR firms and grow business levels by a further 25% if possible.
“Given that we have seen 20 new AR firms join in the last four months alone I have every confidence we can achieve and possibly even exceed the targets we set ourselves at the beginning of the year.”
Stonebridge is forecasting that the additional AR numbers will add around £1.4m in turnover to Stonebridge’s annual mortgage and protection figures.
Adams added: “Networks have long known that they cannot afford to rest on their laurels if they are to continue to offer their AR firms the best proposition possible.
“This has been particularly true this year amid a background of flux following the introduction of the Retail Distribution Review, a change of regulator and the impending Mortgage Market Review changes coming into play next April.
“After a trying few years for the mortgage market the light at the end of the tunnel is getting brighter and we intend to capitalise on this by continuing our expansion plans.”
