Happy Birthday PMS!
PMS is marking its 20-year anniversary by pledging its commitment to continue investing in the development of its members’ businesses and help to drive positive change as the advice profession evolves for the future.
John Cowan, executive chairman at Sesame Bankhall Group, helped to establish PMS whilst at Scottish Amicable in 1996, appointing John Malone to set up and run the mortgage club.
Since its inception in November 1996, PMS members have helped over 2.5 million customers to buy a home or buy-to-let property and completed over £360 billion in mortgage business.
One in 10 UK mortgages are distributed through PMS and 8,000 individual members use its services each year.
Cowan said: “I am very proud of the role the PMS team has had in supporting our profession.
“Working closely with lenders and providers, PMS has consistently delivered the best products, exclusives and services for our members and their clients. Our success is due to the strong support our members and partners have shown us and – 20 years on – the public’s need for professional financial advice is just as great and the outlook for our profession just as bright.
He added: “We are committed to helping our members navigate the challenges ahead, which range from greater regulatory scrutiny to the demands posed by the arrival of new fintech firms and robo-advice models.
“We are also delivering more support to help firms extend beyond mortgages and place equal importance on protection and general insurance. We have strengthened our face-to-face business development team, bolstered our expert mortgage desk, and expanded our range of services to deliver a high quality all-encompassing solution for advisory firms and their clients.”
John Malone, former chairman of PMS, added: “Helping mortgage advisers to secure the best outcome for their customers has been the focus for PMS from the outset and it is great to see that it continues to drive the team today.
“PMS has never lost sight of the need to continually innovate and improve the quality of service it delivers to members, which is why it continues to be so successful.
“PMS does the important things well and delivers what it promises.
“This philosophy has stood the test of time and it will enable PMS to maintain its position as the UK’s leading mortgage club for directly authorised intermediaries.”
Paul Darwin, director of Intermediary Relationships at Skipton Building Society, was one of the representatives on the original PMS panel of 10 lenders in 1996. He said: “I feel privileged to have been there in the beginning and to reflect on the excellent progress made by both of our organisations.
“During that time we have worked closely and collaboratively on a whole host of initiatives and improvements.
“These were all geared towards finding mutually beneficial outcomes, not only for our two businesses, but just as importantly for the broker and borrower too. Long may this be a source of focus for us all in the mortgage market.”