I decided to join a network after being a tied sales adviser for one of the big providers. I was already selling a few mortgages and decided to go self-employed as a mortgage adviser.
I decided to opt for a network because it was a new market for me. Even after 15 years it would probably frighten me to death to go directly authorised because I have not got the back up and support that I have now with Personal Touch. I have not got time to be researching changes in legislation and systems and processes.
With a network, you have the support, whether that is for training or compliance or regulation - it is a safety net. I can just solely focus on looking after my clients and helping them get what they want.
I understand the constraints of being in a network, but if you look at the bigger picture, everything they do is for a reason, especially for the customer, and making sure everything is compliant.
There is an occasion when I would like to place a mortgage off panel and the network is fine with that as long as we notify them, and they are happy for us to do that.
We pay around £200 a month to belong to Personal Touch, and for that we get back office, all our compliance, testing, and as much help as we need. Personal Touch deducts a percentage of commission, based on performance; it is not just business levels, but compliance checks and quality of business. Personal Touch fees were too cheap and it increased them not so long ago to keep up with the market.
One of the most important parts of the network is that I can call a specialist if there is a case where you do not know what to do with a mortgage. The network has a specialist helpline, which assists me.
This is a lonely job at times and what really helps is that Personal Touch has regular sales events, and we get to meet the members around the local area. There are three of us in my firm, and we all work from home in different areas in and around Hampshire.
There is also the annual conference and we get to meet more of the staff, which we do not have to pay for. They also have an annual convention and I get to sit with their top 35 advisers. If I was directly authorised, I would miss out on that.
Robin Burrows is a director of PT Solent, based in Southampton
