"The subscription model, focused initially on delivering the maximum possible procuration fee, plus a market leading profit share, is truly unique"
Due diligence on brokers who register will be undertaken during June before a commencement date will be confirmed, currently expected to be in late June or early July.
As reported last week, Brilliant Solutions, the direct to lender mortgage club and specialist packaging business, has been chosen to provide operational support.
The cost of membership is £300 for the first six months and initially membership will be capped at 250 individual brokers.
Martin Stewart, Co-Founder and Director of The Adviser Alliance, said: “I’m excited that brokers will now have a truly different option for placing their mortgage business. This isn’t just another ‘me too’ business; the subscription model, focused initially on delivering the maximum possible procuration fee, plus a market leading profit share, is truly unique; it has never been done before.
"Frankly, there are times when I doubted that this day would come, but it finally has, and I’m delighted. We now needs brokers to get behind it, support the change we are promoting and work together to challenge the status quo.”
