Mortgages Direct joins Sesame Bankhall

Under the deal, Mortgages Direct will rebrand to Spicerhaart Financial Services and will
continue to provide mortgage, protection and general insurance advice. The firm hopes that the move will allow it to grow in 2010, with plans to increase its advisers from 65 to 90 by the end of 2009 already in place.

Alison Beech, business relationship director at Spicerhaart, said: “The strength, compliance and support which will come from being a part of the largest adviser network will enable us to deal with compliance requirements, realise our ambitions and grow our advisers.”

Robert Sinclair, director of the Association of Mortgage Intermediaries (AMI), said it had
noticed a move from medium-sized independent financial adviser firms to networks.

He said: “Networks can satisfy the demand for increased compliance, but they are not the only way. Firms have a choice over how they run their businesses and ultimately it is a decision for the individual company and its business model.”