CompaniesFeb 4 2016

Stonebridge doubles advisers as business grows

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Stonebridge doubles advisers as business grows

Stonebridge Group nearly doubled its adviser numbers as it saw growth across its business during 2015.

The Essex-based network revealed it had increased its adviser numbers within the network from 203 in 2014 to 404 by the end of 2015.

Stonebridge said most of this growth came in the second half of the year.

Meanwhile mortgage completions were £2.76bn for the year, up 66 per cent on the £1.66bn placed in 2014.

Richard Adams, managing director of Stonebridge Group, said: “As 2015 progressed we saw a considerable increase in the number of advisers within the group and we anticipate this will continue into 2016, albeit at a slower level.

“This growth in advisory numbers has clearly fed into our impressive business volumes for mortgages, life, protection and GI business, and we are now in a very strong position to improve further on this.”

Life business volumes at Stonebridge also rose, with £7.59m of life commissions completed during the year.

This was 79 per cent up on 2014’s £4.23m while £9.04m of life applications were placed through Stonebridge, up 59 per cent on 2014’s £5.68m.

Meanwhile £532,000 of general insurance business was completed in 2015, up 49 per cent on the £356,000 placed through Stonebridge in 2014.

Mr Adams said: “We remain focused on developing our offering, strengthening our infrastructure and to focusing further on the business development opportunities that exist for our members.

“We have a number of ongoing projects aimed at further broadening what Stonebridge offers and also adding significant resource to our head office team and those working ‘out in the field’.

“2016 is promising to be an exciting year ahead for Stonebridge and all our efforts are on making it a special one for all our member firms.”

In December Stonebridge took on three advice firms from the Legal & General network.