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London Money expands regional presence

London Money

London Money has announced that it is expanding its operation outside of London following an increase in demand.

The mortgage advice network has launched Glasgow Money, Teesside Money and Manchester Money, which will all offer advice on a range of residential and second charge mortgages, commercial finance, equity release and, in time, investments and pensions.

The new regional businesses will be authorised directly by the FCA, but rely on the infrastructure provided by London Money as well as the Adviser Alliance.

Both London Money and Adviser Alliance were founded by Martin Stewart (pictured above) and he felt that there was a great entrepreneurial spirit among many brokers.

“By opening up our brand, knowledge and our contrarian approach, we can give those brokers the chance to build their own business.

“Many advisers are disillusioned with the current offerings within the marketplace and we believe our model will allow brokers to go directly authorised, but without feeling lonely in the process.

“Furthermore, by working with the Adviser Alliance, brokers will be able to keep a larger percentage of their procuration fee than was previously the case.

“This isn’t another network in the traditional sense of the word, more a group of directly authorised companies, self-reliant and independent, but with our backing to help build a business with a national presence, but a local touch.”

Kris Day, the founder of Glasgow Money, said he chose to partner with London Money because of its plans for a national brand with an ethical stance.

“We are excited by the opportunity of helping to build a brand that consumers and businesses can trust and engage with.

“We could have set out on our own, but London Money already has the foundations in place, which helps with speed to market.

“More importantly, though, it’s about working with like-minded people who have the same standards as us when it comes to fairness and transparency.”

Scott Thorpe, a director at London Money, said it was uniquely positioned, with its flexibility and collaborative approach meaning that it could get people trading in weeks as opposed to months.

“We can incubate these fledgling businesses using the tools given to the industry by the regulator.

“In our opinion, this is a game-changer for those advisers who want to be business people and not just mortgage brokers.”

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