LSL Property Services and Mortgage Advice Bureau (MAB) both added hundreds of advisers to their networks in last year.
LSL Property Services revealed its Primis network of financial advisers has increased by a record 273 year-on-year to 2,858 – growth of more than 10%.
In a full year trading update the service provider to mortgage and protection intermediaries revealed group revenue is expected to increase by around 23% to £327m from £266.7m in 2020.
It added that its further investment in financial services over the second half of year is expected to deliver benefits in future years.
Meanwhile Mortgage Advice Bureau in its own 2021 trading update revealed as of 31 December 2021, its total adviser numbers had grown by 19% to 1,885 – up 305 from 1,580 at the end of 2020.
The firm added that this was: “Despite the regulatory approval of new appointed representative (AR) firms taking longer than in previous years.”
The update also revealed group increased revenue rose £188m for the year ended 31 December 2021 up from £148m in 2020.
Peter Brodnicki, CEO of MAB, said: “I am delighted with MAB’s performance and we enter 2022 with a strong and growing pipeline of business, ARs, advisers and lead sources, and expect to have a very strong start to the year in terms of adviser numbers.”
