Stonebridge has announced it achieved record results for appointed representative (AR) recruitment into the business during January.

The mortgage and insurance network revealed 28 new registered individuals joined during the month – of which 15 were recruited to join existing Stonebridge AR firms – bringing the total number of advisers within the network up to 666 across 325 firms.

Stonebridge suggested the rise was down to the work of its marketing, recruitment and onboarding teams, the strength and depth of its proposition, as well as its continued focus on supporting existing member firms wishing to expand their businesses with new adviser growth.

The network also revealed strong levels of activity throughout January with mortgage application numbers up 13.2% across the whole network, and 5.3% up on a per adviser basis, in comparison to January 2019.

Stonebridge business partnerships director, Jo Carrasco, called 2019 a ‘very positive year’ for the firm and suggested 2020 had continued similarly in terms of the record levels of recruitment.

“Many in the housing and mortgage markets are talking about the impact of a ‘Boris Bounce’ and there’s no doubt we’ve seen heightened mortgage activity levels in both purchase and the remortgage applications,” Carrasco said.

“We now await the measures to be announced in the Budget and are hopeful they’ll provide a further catalyst to the market, perhaps in terms of stamp duty incentives, which have historically generated greater activity levels, particularly in purchasing.

“We will continue to support firms’ expansion plans into other sectors and to help them develop their own internal recruitment which will allow them to meet the growing demand for advice.”

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