EXCLUSIVE: Martin Wilson’s back
Wilson retired from his role with Personal Touch in 2010 and has been avidly following the market since that time.
But after the end of covenants with PTFS he has now decided to return to the industry with a network focussed on providing a strong compliance system and treating brokers fairly.
He said: “The Right Mortgage offers a refreshing approach to compliance. Unlike other networks the compliance system at The Right Mortgage is set up to protect the customer and the broker rather than the network itself.”
Wilson said the network has ambitious growth plans and hopes to have around 100 brokers on board by the end of the year.
He added: “We want to have 100 brokers by the end of 2014. We are looking for good professional mortgage brokers who have a sensible approach to compliance. For us it’s about treating mortgage brokers as professionals and not as children.”
Wilson’s return to the industry has been welcomed with now retired broker Danny Lovey saying it is a good thing for the market.
Lovey said: “During my time as a broker I worked closely with PTFS. Martin is a well respected and successful advocate of the intermediary.
“Martin has always been of a great deal of assistance to intermediaries and it can only be a good thing that he has come back into the market.”
And former firm PTFS also said it welcomed Wilson’s return to market.
David Carrington, marketing director at Personal Touch Financial Services, said: “There is always room in the market for anyone who puts the customer at the heart of their business.
“However, as with any business, their success will depend on how different they are from the rest of the market.”
But Jas Jaspal of Berkeley Knight was confident Wilson would be able to make a success of his new venture.
He said: “I think it’s great that Martin is back in the industry. Martin built and ran a very successful business from a standing start.
“I think it’s very conservative of him to say he’ll get a 100 brokers by the end of the year – he’ll probably treble that!”
And James Chidgey, senior manager of Group Intermediary Sales at Nationwide, added: “It’s a very pleasant surprise to see Martin Wilson back in the front line of our industry, although with his other enterprises he has never been too far away.
“I wish him well and he will certainly see a rather different climate to the one vacated back in 2010, but his personal charisma and network experience will be welcomed by many brokers, of that I am sure.”
Wilson founded PTFS in 1994 and by 2008 had established it as the largest independently owned financial services network in the UK.
In a note to brokers on LinkedIn wife Amanda wrote: “Just a note to tell you all our covenants with PTFS are up at last and we are very excited about our new proposition, during the last 4 years Martin has watched the networks, listened to advisers and he feels the market place needs something different, so I would like to introduce you to our newly formed proposition to support mortgage and protection advisers…
“The Right Reasons to Join The Right Mortgage
• A refreshing approach to compliance treating your clients & you fairly
• Totally independent access to the whole market place
• Easy transition and authorisation process
• Competitive fee & retention structure monthly fee only £150 per adviser
• Monthly fee includes Full PI cover with low excess plus access to The Key CRM system and full compliance support.
• Optional Bi Monthly training meetings
• Marketing support & business development workshops
• Access to additional income streams from our partner Companies The Right Will, The right Equity release & U-Tax
• Our Key staff have over 25 years’ experience in building and developing financial services companies.
“At The Right Mortgage we take a common sense approach to compliance in which our financial adviser’s professional judgement is valued over their ability to tick boxes and write reports. We treat our advisers as professionals and focus on the outcome they are getting for their customers and not unnecessarily burdensome compliance.”