The Primis network experienced a significant increase in the number of mortgage advisors who joined it from July to October, according to its latest trading update.
This update was issued by LSL, the parent company of the network, and it states that over 100 additional mortgage advisors became members of the Primis network over the course of that period. This means that there were 2,528 advisors within the Primis financial services division by the end of October, which is a year-on-year rise of 8%.
Furthermore, the update on the company’s trading fortunes also states that another 250 advisors are currently in the course of becoming members of its network. LSL restructured last year by merging all of the various networks for insurance and mortgage services that it offers – including Personal Touch, Pink Home Loans and First Complete – under the umbrella of Primis.
The company’s trading update also indicated that it had roughly 100,000 new customers for these services registering during the same four month period, as well as 15% and 14% rises in applications for its insurance and mortgage products respectively.
Its Chief Executive, David Stewart, said that the company expected its operating profits for this year to be slightly higher than they were last year, despite the problems created by the pandemic.
This demonstrates once again the appeal that mortgage networks have for advisors who have finished their CeMAP training and want to move their careers forward as quickly as possible.