John Charcol says it’s now trading profitably
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Ian Darby, chief executive officer of Towergate Financial, says John Charcol is now trading profitably following his company’s acquisition of the brokerage earlier in the year.
At a meeting this morning Darby explained that prior to it being taken over John Charcol had costs based on a business three times its size.
He says: “If it wasn’t for the property and IT costs the business was in reasonable shape.
“The business is now trading profitably which is a relief to me - we needed to get it there fast.”
Darby went on to say that John Charcol is now looking to recruit up to 20 advisers in the next year, to add its existing 70 advisers.
He adds: “Towergate Financial can reduce John Charcol’s overheads and provide it with IT, HR and finance support.
“And Towergate can be provide it with a good customer base from which it can cross sell.”
He went on to add that Towergate had four further acquisitions in the pipeline.
Readers' comments (7)
Dazed and Confused | 29 Jul 2010 11:01 am
Well, WHOOPY DO!
That bit of news has made my day! I can go home tonight and slepp soundly once again!
Guys? How does this constitute news to the hundreds of one and two man mortgage businesses who are struggling?
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Marc Open | 29 Jul 2010 11:22 am
Well if they are recruiting and you are struggling why don't you apply for a job there, maybe they can help you with your prospecting or lead generation as if both were up to scratch you would not be struggling , would you ?
Another "order taker" who thinks he can sell.
It is interesting as it reflects a section of the industry we work in.
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Anonymous | 29 Jul 2010 11:29 am
...selling is telling , and telling is selling . thats what its all about . another groundhog day dawns .
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Anonymous | 29 Jul 2010 11:48 am
Well Marc somebody seems to have upset you !
Let's hope that the FSA hasn't seen you use the term "sell" regarding a mortgage.
I can almost hear the discussion now on how much the fine should be for using the word "sell". We are not sales people we are "advisers". Surely we educate and people buy mortgages (or try to).
Left alone to your own devices you may start to use the word "commission" which will almost certainly incur a lifetime ban.
I am so glad that my role no longer involves sales and non salaried benefits. Just like being back at the Equitable Life in the good old days where commissions had no part to play.
Sorry FSA, I resign !!!!
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Paul Tilley | 29 Jul 2010 12:56 pm
Marc,
Anyone would think you'd hardly slept for a week with comments like that.
Sadly, however, I doubt that JC have managed to get back in the black with 'Order Takers' so they probably wouldn't want to employ Mr Dazed and Confused.
Nice idea though. Have you ever thought of going into Management?
;-)
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Anonymous | 29 Jul 2010 6:11 pm
i hope they have improved their pay and conditions; they could hardly get any worse.
glad to be out.
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Anonymous | 5 Aug 2010 3:52 pm
Marc,
Grow up. You are obviously an ex employee who:
1) couldnt hack the pressure so resigned
2) Got sacked as you were not good enough
3) spent most of your time leaving stupid comments on websites.
:-)
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