The Right Mortgage & Protection Network will now be paying commissions on a weekly basis, instead of every two weeks.
The policy change was announced at its national training event last week, where it also launched a referral service and equity release sales processes.
Its referral service allows members to pass business they do not conduct to the network, which will act as a representative of the adviser in finding the client an appropriate product.
With a no-cross-selling agreement in place, advisers can deal with all of their clients’ financial needs, safe in the knowledge that nobody will poach that client and earn 30 per cent of any commission.
Chief executive Martin Wilson said the changes were made in response to adviser feedback.
“Weekly commissions has been one of the main features that has been requested, so we are thrilled to now be able to offer this.
“The launch of the referral service, as well as our equity release and PMI propositions shows our aim to give all of our advisers the opportunity to provide their client with a holistic financial planning service and achieve the best possible customer outcomes.”
The network gained FCA authorisation last February, starting with fewer than 20 members and growing to more than 200, with the aim to achieve 400 members by the end of this year.
Last month it appointed mortgage distributor 3mc has been appointed to provide a specialist mortgage desk and packaging support service to members.
peter.walker@ft.com
