Stonebridge has announced further growth in appointed representative recruitment into its business, as well as a significant year-on-year growth in its mortgage business activity.

The mortgage and insurance network has revealed it added 24 new advisers in September with nine new partner firms joining the network – a record for Stonebridge – which included the seven-person firm, Ideal Mortgage Advisers.

Stonebridge has said that during the past year and into 2020, part of its focus is growing the number of new firms joining the network, but also to help existing members recruit new advisers in order to expand their businesses, to meet growing demand for mortgage advice.

Stonebridge chief executive, Rob Clifford, commented: “We’re very pleased to be able to announce further growth in our adviser and firm numbers during September, and to welcome nine new partner firms to the network.

“Our recruitment and national business development team work incredibly hard in this area and we have talked to many potential new recruits during ‘expo season’ over the last couple of months, and we’ll continue to do this in the months ahead.”

The network also announced ongoing growth in its mortgage business, with £820m of mortgage applications submitted across the network during September, an increase of 15% compared to September 2018.

Stonebridge revealed mortgage completions also showed a year-on-year increase, reaching £627m in September – up 17% compared to the same month in 2018.

“We’ve seen year-on-year growth in both our mortgage application and completions, which is particularly pleasing at a time when political and economic uncertainty mean many potential clients are opting for a wait and see approach,” Clifford added.

“Demand for advice, however, remains very strong and we’ll be supporting our firms to ensure they are able to access the clear opportunities that exist, not just in mortgages, but also our other core areas of protection and general insurance.

“It has been a very positive period for Stonebridge recently and we are confident that with our ongoing appointments to the team, and our focus on bringing further quality advisers and firms into the network, we have a model that will work for any ambitious advisory practice.”

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