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Commerce Centre in aim to sign up 4,000

Thinc subsidiary The Commerce Centre is to offer its non-regulated business services to the whole of the market.

It aims to have 4,000 advisers signed up by the end of 2008 and grow to become the UK’s biggest network for non-regulated business channels.

The Commerce Centre says advisers who transact business through it will benefit from its compliance procedures and better commission rates than they could achieve independently.

It adds that while there is no expectation that the FSA will widen its net further to products that are currently non-regulated, the company treats all products as regulated as its directors are from a regulated background.

The company already has 805 advisers signed up to the portal, which also offers a website and information hub, and is forecasting turnover in excess of £3m a year.

The range of non-regulated products offered by The Commerce Centre includes commercial mortgages, bridging and business loans, residential secured loans and credit card debt.

Managing director Neil Harkin says: “As the mortgage market expands, there is an opportunity cost to advisers that are not looking into this sector. They can diversify into other areas and take advantage of the huge potential for new business.”

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