Specialist mortgage network, Connect IFA Ltd, has announced that Mortgage & Surveying Services (MSS) Group has acquired a significant stake in the business.
Property services firm MSS Group is also the parent of mortgage network, Stonebridge.
Connect has over 250 appointed representative (AR) advisers within the network and is looking to increase this number significantly over time. Across both Stonebridge and Connect, the latest deal means MSS will now support over 1,450 mortgage advisers.
Connect suggested that the MSS investment, and the existing companies in its group working closely together, would deliver greater scale and influence across the lending, insurance and surveying sectors.
CEO, Liz Syms; sales director, Kevin Thomson; and director, mortgages, Jane Benjamin are all to remain in place as the Connect senior leadership team. MSS representatives will join the Connect Board in a non-executive capacity.
Syms commented: “This marks the next step in the evolution of Connect and will enhance our position as a major player in the specialist mortgage 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.
“We are really looking forward to working with the MSS team who have an impressive background in supporting business growth.”
MSS Group CCO, Rob Clifford, added: “Syms and her team have done a hugely impressive job of building a fantastic business at Connect and one which we have admired for some years – we are really looking forward to working with them to help support their growth plans.”
The deal is subject to FCA approval.
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