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London Money unveils new branches in UK expansion

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London Money has launched three new branches as part of its UK expansion plans.
Glasgow Money, Teeside Money and Manchester Money will all offer residential and second charge mortgages, equity release and commercial finance.
The branches will later expand into investments and pensions advice.
All three are currently part of other businesses and networks and so cannot be named yet.
Each new branch is directly authorised but will rely on the infrastructure of London Money and The Adviser Alliance.
TAA is a new mortgage club founded by London Money director Martin Stewart.
Stewart says: “There’s a great entrepreneurial spirit among many brokers. By opening up our brand, knowledge and our contrarian approach we can give those brokers the chance to build their own business.
“Many advisers are disillusioned with the current offerings within the marketplace and we believe our model will allow brokers to go directly authorised but without feeling lonely in the process.”
Stewart adds that brokers working with The Adviser Alliance can keep a larger percentage of their procuration fee than previously.
London Money director Scott Thorpe says: “We can incubate these fledgling businesses using the tools given to the industry by the regulator.
“In our opinion this is a game changer for those advisers who want to be business people and not just mortgage brokers.”
Glasgow Money founder Kris Day says: “I chose to partner with Martin and Scott because they see things totally differently and that’s refreshing.
“Their plans for a national brand with an ethical stance was particularly attractive.”

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