"We will release more details as we develop and we are looking launch with a preferred panel of both lenders and brokers initially"
'Your Club' is expected to launch in March under the existing TMG brand.
Scott Thorpe, director of The Money Group, said: “We have been working on this for some time now and getting feedback from lenders and brokers as to how they would like to see a new club look. The general feedback seemed to indicate that both parties wanted to get closer to each other to help understand each other's role better.
"In the process of closing that gap we hope to be able to build something that the industry will be proud of and with our new managing director starting in a few weeks it will also offer great engagement. We will certainly be having some fun along the way which is something we need in a compliance heavy and arguably over-complicated process.
“We will release more details as we develop and we are looking launch with a preferred panel of both lenders and brokers initially and we can assure members of one thing, it will be very different to what has come before."
Martin Stewart, director of The Money Group, added: “The industry is still learning how to cope with what has happened to all of us in the past 12 months. Speaking with the lenders we sensed they wanted something else, something different in order to help them market more effectively to intermediaries. From the brokers, we learned that they valued the clubs model greatly but were keen to see them evolve in line with a more modern, socially engaging future which is clearly were we are all heading as a society."
