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Just Mortgages plans launch into wealth advice

Just Mortgages has revealed plans to set up a wealth advice division over the next six to nine months.

The mortgage brokerage, which is part of Spicerhaart estate agency group, operates as an appointed representative of Openwork.

Over the past year, the number of brokers working under the Just Mortgages brand has grown from 210 to 320, of whom 150 are self-employed.

The broker says lending arranged by its advisers grew by 39 per cent from £1.8bn in 2017 to £2.5bn in last year, while turnover increased from £20.3bn to £28.3bn over the same period.

Its mortgage advisers are based in Spicerhaart group’s estate agency branches, which include haart, Darlows, Haybrook, Felicity J Lord, Chewton Rose and Butters John Bee.

Just Mortgages and Spicerhaart operations director John Philips says: “The next project for Just Mortgages is to put a wealth advice division in place, so that following the advice we offer clients on mortgages, remortgaging and protection, we are able to follow up with help, advice and support about their pensions and investments.

“We are looking to set up the wealth advice arm within the next six to nine months with a goal of growing it to 75 advisers within the next four years.”

Reflecting on the broker’s financial results published today, Philips adds: “Over the past year, the market has been a bit tougher, and for many brokers, the fall in demand for house purchase hit them hard, with their leads drying up fast.

“They are then forced to start calling up former clients to try and get remortgage business.

“At Just Mortgages, we don’t work like that. We have always put client relationships at the heart of everything we do and our brokers are all in regular contact with their clients.

“So when the market is more focussed on remortgage and protection, for us, it is not a desperate attempt to find new leads, but business as usual.”

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