In the first quarter of 2025 (Q1), the campaign to designate representative companies (AR) companies reflects the continued development and vitality of the industry.
Based on the momentum in 2024, the Q1 data provides valuable insights into overall and clean (YTD) changes, highlighting the most important winners and losers, while also identifying emerging trends.
Net changes in the company
In Q1 2025, a net increase of 140 new AR companies in the network with more than 20 AR companies highlighted the positive trajectory of AR models in the mortgage sector.
AR’s mobile provides valuable insights into the transformation of the mortgage intermediate sector
This growth illustrates the resilience and adaptability of certain networks in response to evolving market demand. The emergence of new networks further strengthened this upward sentiment and expressed strong confidence in the AR framework.
However, the growth in the number of AR companies has not translated into a corresponding increase in the number of consultants. Instead, for the networks that appear in the table, the overall number of consultants allowed for mortgages remained relatively stable during the same period, with 13 consultants declining during the same period.
This difference may indicate a change in industry dynamics, with more consultants choosing to leave a bigger approach to building their own company. This trend coincides with many of our recent inquiries and expresses the consultant’s interest in entrepreneurship.
In addition, data from online consultations obtained from free information requests to financial conduct authorities show that approvals from direct authorization (DA) companies have dropped significantly over the past five years. Together, these developments show that as the industry adapts to changing consulting needs, people have an increasing preference for AR models.
The ability to attract and retain AR companies will depend on the network’s commitment to innovation, compliance and adaptability
Beyond that, many believe that the process of becoming a DA and the pressure on the excise tax and FCA reporting has increased the decline in DA company approvals. Given that regulators recently announced consultations on reducing reporting requirements (closed on May 14), this could impact companies’ preferences for which pathways they take.
From a percentage point of view, the cornerstone network has become the best performing network in Q1, with AR company YTD having a net increase of 16% by 16%. Rosemount Financial Solutions (IFA) followed closely with a net increase of 13.3%.
Instead, Dragon Brokers’ net decline in Q1 was -10.7%, although this represents only the difference between six companies.
Meanwhile, OpenWork and Primis continue their long-term trend of declining AR numbers. Over the past three years, OpenWork has suffered consistent company losses every quarter, with a total net loss of 107 companies since January 2023.
Q1 2025 net increase of 140 new AR companies in networks with more than 20 AR companies
This makes a noteworthy point on a larger scale. A GO takes over a large number of multiple consulting firms will require an infrastructure that can continue to be acceptable service levels and regulatory oversight.
Last year, when 2plan hired other Tenet Group networks from other Tenet group networks, it was consistent with the FCA, which would suspend recruiting multi-advisory companies until its infrastructure catches up. At the time of writing, this pause remains, but it is believed that it will lift it up immediately.
meaning
The growing number of AR companies and the trend of comparatively stable consultants is a critical moment for consultant support services.
The network must proactively address these changes by providing tailored support and facilitating environments that benefit today’s marketing trends and entrepreneurial growth. The ability to attract and retain AR companies will depend on the network’s commitment to innovation, compliance and adaptability.
The growth in the number of AR companies has not yet been converted into a corresponding increase in the number of consultants
As we grow in 2025, AR company transportation provides valuable insights into the transformation of the mortgage intermediate department.
A network that can focus on customer outcomes, anticipate market transformations and strategically adapt to emerging trends thrives in this competitive and dynamic environment.
| network | Total number of AR companies | Number of AR companies to join YTD in 2025 | Number of AR companies leaving YTD in 2025 | Net change in the number of AR companies YTD 2025 | Percent net change | Net Changes in AR Companies in Q1 2025 | Number of consultants with mortgage authority according to the FCA Register (CPD20 & CPD21) | Average mortgage consultants per AR company |
| St James Square Wealth Management | 2814 | 104 | 51 | 53 | 1.9% | 53 | 1400 | 0.5 |
| Primis*† | 1112 | 13 | 25 | -12 | -1.1% | -12 | 2281 | 2.1 |
| Sew * | 690 | 15 | 16 | -1 | -0.1% | -1 | 1348 | 2.0 |
| Stonebridge Mortgage Solutions Ltd† | 674 | 28 | 11 | 17 | 2.5% | 17 | 1230 | 1.8 |
| OpenWork Limited | 592 | 7 | 13 | -6 | -1.0% | -6 | 2392 | 4.0 |
| HL Cooperation Co., Ltd.† | 515 | 30 | 14 | 16 | 3.1% | 16 | 926 | 1.8 |
| Correct Mortgage Co., Ltd.† | 419 | 27 | 12 | 15 | 3.6% | 15 | 700 | 1.7 |
| 2 Plan Wealth Management | 273 | 2 | 2 | 0 | 0.0% | 0 | 392 | 1.4 |
| Online Cooperation Co., Ltd.* | 241 | 9 | 13 | -4 | -1.7% | -4 | 299 | 1.2 |
| Sesame Co., Ltd.† | 237 | 0 | 3 | -3 | -1.3% | -3 | 561 | 2.4 |
| Connect to IFA LTD† | 232 | 29 | 12 | 17 | 7.3% | 17 | 237 | 1.0 |
| Mortgage Consulting Bureau Co., Ltd. | 187 | 1 | 2 | -1 | -0.5% | -1 | 1789 | 9.6 |
| Xinye Distribution Co., Ltd. | 177 | 6 | 1 | 5 | 2.8% | 5 | 273 | 1.5 |
| Valid Path Co., Ltd. | 175 | twenty three | 3 | 20 | 11.4% | 20 | 64 | 0.4 |
| Sensory Network* | 172 | 3 | 3 | 0 | 0.0% | 0 | 175 | 1.0 |
| Mortgage Intelligence Co., Ltd.† | 139 | 3 | 5 | -2 | -1.4% | -2 | 338 | 2.4 |
| Best Practices IFA Group Limited | 127 | 3 | 3 | 0 | 0.0% | 0 | 95 | 0.7 |
| White Rose Financial Group Co., Ltd.†** | 112 | 7 | 8 | -1 | -0.9% | -1 | 30 | 0.3 |
| TMG Direct Limited† | 100 | 9 | 2 | 7 | 7.0% | 7 | 286 | 2.9 |
| Cornerstone Finance† | 81 | 16 | 3 | 13 | 16.0% | 13 | 192 | 2.4 |
| Julian Harris* | 75 | 1 | 1 | 0 | 0.0% | 0 | 96 | 1.3 |
| Rosemount Financial Solutions (IFA) | 75 | 10 | 0 | 10 | 13.3% | 10 | 107 | 1.4 |
| Limited Limited† | 73 | 4 | 3 | 1 | 1.4% | 1 | 76 | 1.0 |
| Dragon Brokers Limited† | 56 | 8 | 14 | -6 | -10.7% | -6 | 65 | 1.2 |
| Corbel Partners | 56 | 3 | 1 | 2 | 3.6% | 2 | 60 | 1.1 |
| Richdale agent | 40 | 3 | 1 | 2 | 5.0% | 2 | 27 | 0.7 |
| John Charcol Limited† | 33 | 2 | 1 | 1 | 3.0% | 1 | 120 | 3.6 |
| PI Financial Ltd | 28 | 1 | 2 | -1 | -3.6% | -1 | 71 | 2.5 |
| JLM Staking Network† | 27 | 0 | 1 | -1 | -3.7% | -1 | 88 | 3.3 |
| Ingede Finance† | twenty four | 2 | 3 | -1 | -4.2% | -1 | 36 | 1.5 |
| Total and Average | 9556 | 369 | 229 | 140 | 140 | 15754 | 2.0 | |
*Indicates multiple principals (online) transactions under an online brand
†Indicates that only networks with staking and protection rights
**Specialized in consumer credit
Source: FCA Register
Correct numbers on April 10, 2025
Paul Day is the founder and director of online consulting
This article is in the May 2025 version Mortgage Strategy.
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