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Mortgage networks merge under single brand

Mortgage networks merge under single brand

Personal Touch Financial Services (PTFS) is to merge with mortgage and protection network Primis after its buyout last year.

Parent company LSL Property Services bought PTFS for £4.8m in January 2018 after which it started to integrate the networks' sales, operational and product functions with Primis.

The two networks will now unify under the Primis brand and will be run by a single executive team.

Toni Smith, chief operating officer at Primis, said: "The unification of Primis and PTFS is extremely exciting and demonstrates our commitment to advisers and customers alike.

"Now a year since the acquisition of PTFS, the past twelve months have been filled with record milestones and successes.

"We are hugely excited about our plans for the network and we are confident Primis will flourish further under a single brand."

Personal Touch launched in 1994 and had 200 appointed representative firms and 474 advisers at the time of its buyout last year.

It owns and operates the Toolbox software system, which is the operating system used by its advisers.

Primis was formed last February when networks First Complete and Pink were merged under the single brand.

Pink was formed in 1990 and LSL bought it from Skipton Building Society in 2010.

This was the same year that LSL bought Home of Choice from administration, which it later rebranded as First Complete.

carmen.reichman@ft.com

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