Small networks can offer large benefits

CHRIS TANNER
CHRIS TANNER MANAGING DIRECTOR HOMELOAN PARTNERSHIP

Amid all the hype from larger networks about the support they give their appointed representatives, there is a clear message to brokers that the first shots have been fired to herald the start of the next recruitment campaign for network ARs.

This type of posturing tends to be the preserve of the bigger beasts of the jungle, designed to attract potential ARs.

It is easy for those brokers considering a move or giving up directly authorised status to overlook smaller networks.

In doing so they could be seduced by the fireworks only to find that like any large institution, there are in-built disadvantages that come with the size that is marketed as a plus – namely, ARs can become a small cog in a big wheel with little in the way of personal attention.

With the regulator making it clear through the Mortgage Market Review that it is going to be a more proactive partner to all intermediaries, there will be pressure on DA brokers, especially smaller firms, to consider AR status. But what kind of network will work best for them?

Smaller networks might not have grand head offices but the good ones offer a sensible balance between fees paid, diversity of services offered and first class compliance oversight.

But the most important factor is the vital link between the AR and network staff to work together.

Relationship management is crucial to help ARs build their businesses, so smaller networks have the winning formula.