Stonebridge Group has announced strong growth within the business during 2013 based on a number of measures.
Based on provisional results for the year, the mortgage and insurance network saw total income for the Group increase by 53% year-on-year. It also increased the number of appointed representatives (ARs) it looks after by 50% taking numbers from 86 at the end of 2012 to 129 by the end of 2013.
Core business for the network focuses on mortgage, and life and general insurance sales. In all areas Stonebridge saw increased levels of activity with mortgage completions improving by 88%, life completions up by 27% and general insurance by 14% for the period.
Stonebridge puts the improved yearly results down to a number of factors including the ongoing increase in the number of active advisers within the business and the increase in productivity levels that result from this. It says the improved mortgage business levels are down to both these factors and the more positive lending/borrowing environment that established itself during the course of last year.
Richard Adams, managing director of Stonebridge Group, said: “Looking at last year we can see 2013 was another strong year of growth for Stonebridge and it is pleasing to see our proposition continues to be in demand from advisers looking for a quality Principal partner.
“Our AR recruitment levels have grown consistently since we established the network and it is clear that large numbers of advisers are looking for transparency, consistency and access to income-generating opportunities – which is why they are choosing Stonebridge. We have always been particularly focused on the mortgage and protection market and it is therefore pleasing to see continued growth in these areas.
“We fully anticipate 2014 will continue in the same vein and we will be working hard to support our advisers and ensure they benefit fully from any future opportunities in this increasingly positive market.”