It was revealed at the recent Pink annual conference that its members are earning an average of 223% more than they were four years ago. Pink is expecting to pay out £14m to advisers this year compared to £8m in 2011.
With 20% fewer advisers in the network now than in 2011, Pink argues this further highlights the importance the network places on developing the existing advisers than setting out a policy to grow income through chasing after other networks’ advisers.
This announcement follows on the back of Pink network setting a record month for mortgage completions in September; this makes a total of five record months so far this year and beats the previous record set in July. July was widely regarded to be the UK mortgage market’s biggest month of the year but the conference revealed that Pink advisers exceeded their sales in September as the rest of the market scaled back.
Over the same four year period, it was announced that Pink advisers have increased their level of protection sales by 441% since Pink director Mark Graves put in place Pink’s protection panel of five leading providers.
Graves, head of Pink Network, talking at the conference, said” “The fact that we are still setting record months, even though the market as a whole shows signs of slowing down is further evidence of the importance of a disciplined sales process. In reality MMR did not and is not slowing down our growth or development. The advisers in Pink network have shown they are prepared to embrace change and work on developing their own business models, this is reflected in some extraordinary achievements in the last four years. Success has been achieved in both the protection and mortgage arenas.
“The focus for 2015 is to help the advisers to maintain the performance they achieved in 2014. We have also set out our stall to make income protection the major growth area in 2015 regarding protection. Trainee development will play a major role next year as will admin support if our firms want to continue to grow in a controlled way.”
