Positive Solutions has attributed a record sales month in April to the "resilience" of its mortgage business.
The Aegon-owned adviser firm says mortgage-related sales made up more than 27% of the £11.3m it accrued through sales and fees in April despite “an undersupply of competitive, innovative products”.
It also says it has doubled its pensions business since January and reports total new business turnover in the first four months of 2008 at £37.6m.
Positive Solutions chief executive Jim Reeve says: “Despite tough trading conditions across the UK market, we have made an excellent start to the year, with our partners delivering the most productive month in our history.”
Reeve says despite difficulties in the mortgage arena, the firm’s first ever exclusive under its new Positive Solutions Mortgage Club accounted for £70m in lending over the six weeks it was available.
“These income figures and the resilience of our mortgage business speak volumes for the focus and drive of partners and the overall strength of the business model,” he says.
Reeve adds that 49 advisers have joined Positive Solutions so far in 2008; half of them from a directly authorised environment. This reinforces his view that “small, directly regulated businesses are operating in an increasingly challenging environment which is likely to help our future growth.”
He adds: “But we are seeing an equal number of joiners from other IFA networks and the direct sales/bancassurance channels, underlining the attraction of our proposition across the whole adviser market.”
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