National broker firm Just Mortgages has launched a new ‘golden hello’ scheme to help principal firms attract experienced advisers who are transferring from an employed role to self-employed.
The new Commission Advance Scheme is designed to support the principal firm grow their businesses whilst also acknowledging the challenges in earning from a pipeline in the early months. Walking away from a steady pay cheque can be daunting for those looking to go self-employed, which is why Just Mortgages is offering a commission advance whereby firms are paid £1,500 per month for three months to pass onto their newly authorised brokers.
With extended completion timescales currently being seen in the market, this new initiate has also been structured so that no repayment is due for six months providing the time for the member to build their business. This is in addition to Just Mortgages’ current commission advance scheme where newly self-employed brokers can receive £2,000 per month for the first three months.
Carl Parker (pictured), national director of the Just Mortgages self-employed division, said: ““We have worked hard to put in place everything a broker needs to prosper in a new self-employed role. The existing commission advance scheme has provided a lifeline for those brokers taking the step to independence as a self-employed broker and so we’re delighted to launch this new initiate for principal firms.
“More and more principal firms are looking to recruit top quality brokers but those moving from a regular pay-check to self-employed income face an inevitable gap before commissions are paid. This scheme allows firms to welcome new brokers with commission paid in advanced to help smooth the transition to their new, successful career as a self-employed broker. There are of course certain conditions that must be met to qualify but these are realistic and achievable.”
