Stonebridge has announced an increase in its appointed representative (AR) adviser recruitment numbers during the COVID-19 pandemic.

The mortgage and insurance network revealed that 26 new registered individuals have joined the network during the UK lockdown, five of whom did so in May, bringing the number of total advisers within the network up to 693 across 340 firms.
 
Stonebridge suggested its continued investment in people and systems was “paying dividends” as its recruitment and onboarding teams had continued to deliver the results throughout the period of lockdown – particularly in providing support for existing network members who were looking to grow their own adviser numbers.

Stonebridge chief executive, Rob Clifford, commented: “To have materially increased our adviser numbers during this period is a fantastic result, down not only to the work of our recruitment team, but also those existing AR firms who are increasingly looking to add advisers to their businesses in order to meet demand.

“The easing of lockdown has undoubtedly had a positive impact on purchase activity levels and, while it is still early days, it has been very promising to see strong mortgage application numbers, particularly purchase cases, given the uncertainty about how consumers might respond.
 
“No one underestimates how different 2020 is turning out to be from any expectations the market had back in January, but by utilising everything Stonebridge has to offer we believe our advisory firms are very well-placed to come through this period in good shape.”

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