Broker website to search network market

Brokers looking to choose a network can now use a single website to research the network market, with networks pitching to brokers for their business.

Advisermatrix.co.uk allows brokers to register their interest in joining a network and acts as a facility to research the network market on the broker’s behalf.

Brokers will supply information online, and networks are invited to pitch their proposition based on the details supplied. Brokers choose which firms they would like to enter into discussions with, with the broker identity only being revealed at this final stage.

The site has been set up by Julian Wells and Pete Gwilliam, who between them have worked within the mortgage industry for over 30 years.

Wells currently works as an industry consultant and previously headed up marketing at Mortgages plc. Gwilliam works as a recruitment specialist within the mortgage market.

Julian Wells, cofounder and director of Adviser Matrix, says: “Choosing a network is not a quick process. With over 20 networks to choose from, clearly it is currently neither practical nor realistic for a broker to research the entire market.

“Adviser Matrix will enable brokers to consider a wide range of network propositions but without taking up large chunks of their time. This in turn creates the opportunity for networks to be able to promote their proposition to businesses they may otherwise would not have been able to recruit.”

Alan Dring, industry commentator, says: “I have expressed my concern many times that many of the networks do not profile their businesses well enough for brokers to determine what offering best suits their needs.

“This will encourage the pro-active networks to review their propositions. It will force them to demonstrate how they add value to an appointed representative’s business across a much wider product range then has previously been the case.”