FTAdviser.com

Advertising

Premier Network Group has announced it is set to take on a further 60 appointed representatives by the summer.

Karen Butt, head of group sales and marketing for Premier Network Group, said the network was aiming for a period of steady growth during 2008 by encouraging new entrants into the sector.

Ms Butt said: "We have partnered up with The Financial Training Academy as we want to bring new talent into the industry while providing the necessary support. This is part of a recruitment drive as we currently have 50 advisers within 25 appointed representative firms.

"These new members will consist of a mixture of mortgage planners, mortgage state and appointed representative firms. We are not aiming to be the biggest network but we think the time is perfect to inject some life into the sector."

Marcus Howship, head of specialist lending for London-based Mortgage Centre IFA, said the mortgage network clearly had admirable intentions although he warned the current climate could prove difficult for inexperienced representatives.

He said: "One should never discount the importance of acquiring new talent however other networks with plans to expand are very much targeting established firms only. Members of the public still need financial advice but I hope the network has a clear and strong support network for these new members.

"Gone are the days when a new recruit could just call up 40 members of their family and get business that way. So long as they have a clear strategy in place it could be a success."

Steve Hubball, director for Warwickshire-based Financial Consultants, said the network was going against the flow by expanding but said there was still business out there so it was not a plan without merit.

He said: "People still want to conduct their business and you could say if you are running a business properly then you should be able to continue operating even in a difficult market. It is good they want to bring new blood into the sector because with that comes a new perspective.

"I would not say they will be put at a disadvantage. Even experienced professionals are finding things tough and I would say it's almost a bit easier for someone new to cope. If you have got used to operating in an easy market then having to adjust can be almost worse."