Mortgage Network Recruitment Comparison For The Whole of 2017 Jan 12, 2018Views: 335
Right then, so 2017 is another year showing cautious growth, maybe more surprising when you consider how much of a mess the government seems to have made of Brexit so far, but at least it does show that a countries economic strength is based on more than just its current political strategy.
The information used in this analysis by Which Network Ltd is taken directly from the FCA register and as such is accurate on that day, however it is not unknown for retrospective changes to be made to the register. Generally speaking the figures are most useful in illustrating general trends for individual networks and the industry as a whole. As there are more than 27 UK networks in total at this point the table represents those which we consider to be amongst the most significant in the sector at this time, with the general spread giving a good representation of the industry as a whole.
On to the figures themselves now and it can be seen that The Right Mortgage has shown impressive growth and although as a “new” network with an aggressive marketing strategy, the overall figures are maybe slightly flattering since less of their AR firms are going to have been with them long enough to leave the network, there’s no denying their professionalism or that the network is building nicely. In second place, numerically speaking in recruitment terms we have First Complete with an overall increase of 18 AR firms and in third place we have Stonebridge continuing to show steady growth with an increase of 17 AR firms arguably looking slightly more significant with the latter network being smaller than First Complete.
Moving over to the less sparkling side of the table now, the prize for worst performing network in recruitment terms, goes to Sesame both in numerical and percentile terms with a reduction of 50 AR firms, nevertheless showing a big improvement over last year when they lost 78 AR firms, so maybe this heralds a change in their fortunes? Second last, we have Intrinsic with a reduction of 8 AR firms although with 1,142 firms now registered with them this could hardly be considered significant. In joint third place with an overall reduction in AR firms of 6 we have Julian Harris and Mortgage Intelligence/Mortgage Next who have shown a decrease in AR numbers for third year running.
With Which Network continually advising both new and established mortgage broking firms to make sure they have some sort of presence on social media, such as Facebook and Twitter, it’s interesting to note that this form of marketing is now beginning to spread into the “business to business” field with most of the better performing networks active in this field, although with one particular network’s Facebook page consisting almost entirely of links to other industry sources obviously not everyone gets it?
Overall however, I have to say that in spite of the massive turbulence within the economy as a whole and a seemingly never ending string of changes to financial services regulation which has seen a big increase in the number of DA brokers coming to us and opting for the support offered by a good network, rather than remaining Directly Authorised, the past year has definitely been another hit both in terms of the numbers of firms active within the sector and the quantity of business written, so here’s looking forward to a great 2018!