View more on these topics

Coulson accuses networks of locking in members

Home of Choice chief executive Richard Coulson claims rivals are blocking brokers from joining his network.

Coulson, whose network has completed its first year since his acrimonious split from Zurich’s mortgage arm in 2005, accuses a number of networks of increasing lock-in periods to stop their members moving.

He says: “There are 320 individual brokers awaiting transfer to us but many of their networks are changing notice periods and locking these guys in for six months.

“You have these guys that want to leave but their networks will not let them. Some are seeing a freeze in commission. It is not right. The numbers of applications we are getting is staggering.”

Coulson says HoC will make at least one acquisition this year and is in talks with six other networks, reflecting his prediction that the market will see significant consolidation over the coming months.

He has doubled his target of 1,000 sellers within the first three years to 2,000 after a successful first 12 months.

Coulson says HoC is not one of the four networks that has agreed voluntarily to suspend the appointment of any further appointed representatives after an FSA probe.

Recommended

Into the unknown on interest rate assumptions

I read with interest, as I usually do, the article by Keith Popplewell in last week’s issue of MM. I concur with the overall message but I would take issue with some of the comments he draws. I suspect that we would both question the assumptions of a central SMPI growth rate of 7 per […]

Border lines

Sitting in a television studio the other week, I was asked to comment on the latest cross-border acquisition by a continental company of a British concern. In this case, the acquirer was Spanish – again.

GPs to sharpen-up reports as BMA agrees 5-year deal with ABI

A five-year deal has been agreed between the ABI and the British Medical Association over the quality of medical reports prepared by GPs for their patients and fees paid by insurers.The price for standard GP reports, supplementary reports and full medical examinations will each increase by 6 per cent per year for the next five […]

Tax avoidance (the fight goes on)

In recent times, we have witnessed high-profile celebrities and sports stars make the headlines for potential tax liabilities on ‘failed’ tax avoidance schemes. We are now used to reading about these individuals, but what about those who advise on such schemes? Read more

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment