Which Network, Mortgage Networks Recruitment Performance for 3rd Quarter of 2018gary
So here we are again looking at the recruitment efforts of our basket of mortgage networks, this time for the third quarter of 2018.
As always, these figures, taken from the FCA register were correct on the day, however retrospective changes within the register can sometimes occur due to administrative errors and other issues. Again, as always selection of a network should never be made purely from this table as the correct network for a mortgage business is the one that best fulfils your requirements and not just the largest or the smallest.
Turning to the table now
In terms of biggest gains in AR numbers we can see that numerically it’s Openwork with 13 additional recruits that are top of the hill or in percentile terms it’s Stonebridge Mortgage Solutions with a 3.57% increase in their AR numbers. Although this is not maybe riveting, unless like me you spend too long looking at spreadsheets and analysing data but second place is an inverse image of first place with Stonebridge numerically adding 10 additional AR’s and Openwork with 1.79% showing the second highest growth in percentile terms. Third place is First Complete in both aspects with an additional 6 AR’s demonstrating a network growth of 1.31%.
Having looked towards the dizzying heights of success now, we must unfortunately turn our gaze to the bottom of the hill, although again it must be said that certainly in terms of percentage losses it’s been a very stable quarter.
Numerically speaking Tenet have shown the biggest numerical loss with a reduction of 12 AR firms. This contrasts sharply with the Mortgage Support Networks highest percentile loss of 3,7% of AR firms which only converts to 3 actual AR firms due to the much smaller overall network size. In second place it’s Intrinsic with a loss of 11 AR firms or Julian Harris in percentile terms and third place goes to Mortgage Intelligence and Next with a loss of 4 AR’s, or 2.17% in percentage terms.
Personal Touch having just returned to the table are not showing gains or losses this quarter, but that will fall in to line in the final quarter and year end figures in January. This is also the reason for the adjusted totals for the quarter since the addition of 220 AR’s to the recruitment figures would create a crazily optimistic forecast for the future.
Looking over the industry as a whole, once more it seems that given the drop in house purchases and Brexit now knocking on the front door we aren’t doing too badly at all. Marketing is maybe even more important than it always has been and we’re finding more brokers that we speak to are diversifying and taking equity release products into their portfolio, but there’s still plenty of business out there and if the trading conditions are causing some brokers to concentrate more on their clients protection requirements than previously then I don’t think that’s any bad thing!