Stonebridge Mortgage Network adviser recruitment service saved members £498,000

Stonebridge says its adviser recruitment service has saved member firms an estimated £498,000 over the past year.

The mortgage and protection network launched the service 2 years ago, offering individual adviser recruitment to members at no additional cost.

Stonebridge said it placed 83 advisers through the service in the last year, representing a 22% increase on the previous year.

The network said typical recruitment agency fees for adviser placements are around £5,000 plus VAT, which it used to estimate the savings generated for members.

Lesley Sharkey, recruitment director at Stonebridge, said: “This is a dedicated and ringfenced resource exclusively for our members, allowing us to focus on identifying the most suitable registered individual for each opportunity. Because our priority is finding the right fit, we are not constrained by the need to make a placement quickly in order to generate revenue.

“This shines through in our success rate, which is why more members are using the service than ever before.”

Stonebridge said the number of member firms using the service increased by a third over the past 12 months.

Its recruitment team is currently handling 130 vacancies, covering employed and self-employed roles as well as estate agency-based adviser positions and opportunities within traditional appointed representative firms.