A new mortgage club which is launching in less than a week has partnered with Brilliant Solutions.
The Adviser Alliance is the brainchild of London Money director Martin Stewart, Phil Bray of the Yardstick Agency and Phil Young, managing director of Threesixty Services.
It aims to give firms greater power in their relationship with lenders.
Brilliant Solutions, a direct-to-lender mortgage club and specialist packaging business, will provide it will operational support.
Mr Stewart said: “This is a massive step forward for us and another key piece of the jigsaw is now in place.
“The efficiency of the Brilliant Solutions operation is incredible. It will allow us to deliver huge value to our members.”
The Adviser Alliance offers 100 per cent of procuration fees back to brokers through a monthly profit share in return for what bosses describe as a “modest” membership fee.
Matthew Arena, managing director of Brilliant Solutions, said: “We are delighted to partner with The Adviser Alliance to deliver a truly innovative service to the intermediary market.
“By stripping the proposition right back we can help The Adviser Alliance offer a 100 per cent profit share on all procuration fee related profits for all brokers that are part of The Adviser Alliance.
“This is a big moment for the many brokers in the market who just look at mortgage clubs as a payment route. We are proud to have been selected to deliver it.”
The Adviser Alliance is open to any firm or individual which is a regulated mortgage adviser, regardless of their authorised status, with 150 brokers having already expressed interest.
But the club’s membership will be capped at 250, with registration opening on 31 May.
Before then brokers can register their interest by emailing martin@adviser-alliance.co.uk.
damian.fantato@ft.com
