You may have read in The Mortgage Introducer in August that, after four years out of the mortgage industry, Martin Wilson is back and has launched an exciting new adviser proposition. Martin founded PTFS in 1994 and by 2008 had established it as the largest independently owned financial services network in the UK. Alongside his wife Amanda Wilson and their business partners Adam and Tania Stretton, the four have launched The Right Mortgage which promises a refreshing approach for financial advisers.
Martin, what prompted your decision to return to financial services?
First of all I missed the camaraderie of lots of people I worked with for over twenty years and secondly I feel that there’s a gap in the market for a network with a refreshing customer-centric approach to financial services that maintains good relationships with its advisers.
What do you feel The Right Mortgage offers that other Networks do not?
The main thing we’re all passionate about is creating a partnership offering where brokers feel valued and supported. We have a whole of market proposition and provide our advisers with full marketing and compliance support. With regards to compliance, we have a fresh approach in which our financial adviser’s professional judgement is valued over their ability to tick boxes and write reports. We treat our advisers as professionals and focus on the outcome they are getting for their customers. We don’t put unnecessary barriers in the way of doing business. The Right Mortgage is also part of a growing ‘Right Group’, which includes The Right Will and Estate Planning, so our advisers have plenty of opportunities for expanding their portfolio of financial services.
Adam, as an active financial adviser, what do you feel are the key challenges facing Mortgage Brokers today?
Lender criteria and how it fits with affordability; there’s no standard across lenders and they all have different calculators. Things are starting to settle down a bit post-MMR but we need consistency in the market. I also think there needs to be more dialogue between lenders and advisers, too often we hear about brokers being struck off panel with no warning and no discussion.
No one minds doing the job right and everyone wants to trade safe, so if lenders discussed problems with brokers and firms we could look at trends and common themes and put training in place to address any issues. Then there are the usual complaints we all have, like having to hold for half an hour to speak to someone at the end of the phone and waiting weeks for underwriters to look at an email.
Understanding these frustrations, I have no intention to make it any harder for advisers to do business and we’re constantly striving to streamline our systems and make things simple. We’re currently developing our online training site which will be a one stop shop for everything our advisers need and it’s something we’re all really excited for.
Amanda, why do you think so many people are moving networks?
One thing I hear all the time is that advisers feel like a ‘number’ and they aren’t getting the support they want. A lot of networks don’t pick up the phone and talk to their advisers or answer their queries. At the end of the day advisers are our customers and it’s important to look after them and give them the support they’re paying for.
Building up Personal Touch over 14 years and watching the industry carefully since we left the business, we’ve had plenty of time to listen to what advisers say and study what’s happening with other networks. We feel that we know what advisers are looking for in a network and will continually develop our proposition based on their feedback.
Tania, The Right Will is fast becoming one of the largest Estate Planning providers for financial advisers, what do you attribute the success to and how will you replicate this with The Right Mortgage?
We started The Right Will because we knew there was a gap in the market for a simple and straight forward approach to Estate Planning for financial advisers. We’ve developed the business based on our adviser’s feedback and we are constantly evolving to make our process as simple as possible, allowing advisers to have more time to do what they do best; sales and building relationships with their clients.
A successful business depends on creating quality relationships with your clients and it’s fantastic for me to see the friendly and approachable environment we have in The Right Will being replicated in The Right Mortgage. So for me a key part of making The Right Mortgage a success will be ensuring that we listen to what our advisers say and continually adapt to meet their needs; keeping our processes simple and building long lasting relationships.
As a company what are your plans for growth?
We want to grow safely and securely while maintaining personal relationships with our advisers. We are ambitious but at the same time we have no desire to become a huge faceless corporation. We are looking for good, professional mortgage and protection advisers who have a sensible approach to compliance and want to be part of a friendly and successful team.
The Right Reasons to join The Right Mortgage
- A refreshing approach to compliance; treating you and your clients fairly.
- Totally independent access to the whole market place.
- Easy transition and authorisation process.
- Competitive fee & retention structure; monthly fee only £150 per adviser.
- Monthly fee includes full PI cover with low excess plus access to The Key CRM system and full compliance support.
- Optional quarterly training meetings.
- Marketing support & business development workshops.
- Access to additional income streams from our partner Companies; The Right Will and U-Tax.
Find out more
For more information about our services call us on 01564 732 744
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