Find The Right Network
Which network is right for you?
Network Consulting can help you find the right mortgage or wealth network. Simply fill in the enquiry form, talk us through your requirements, and we’ll guide you in making the right choice for your business.
If you’re looking for a network for the first time, or changing from your current one — as a sole trader or multi-adviser operation — a good place to start is documenting your true business drivers, along with your short, medium and long-term goals.
From here, consider:
- What do I want from the network?
- How will they help me achieve my business goals?
- What do they offer that benefits my business?
- What features of the proposition benefit my business the most?
As an Appointed Representative (AR), you’ll need to follow strict guidelines, processes and procedures. If this feels too prescriptive, you may want to consider going Directly Authorised (DA) — though you’ll need to fully understand the requirements before taking that path. For many, the protection and support of a network outweighs the compromises involved, so the next step is to prioritise your wish list:
- What must I have from my network?
- What would be nice to have?
- What do I definitely not want?
These answers help narrow down the network propositions best suited to you. Network Consulting walks you through this process, taking your needs, requirements and dealbreakers into account, benchmarking the numerous network offerings in the market and monitoring their financial health using data from leading rating agencies — backed up with a personalised summary report.
Is a network definitely the right route?
AR v DA
For many firms, the regulatory support, infrastructure and protection offered by a network can significantly outweigh the compromises involved in being an Appointed Representative.
For others, greater independence and control may make Direct Authorisation worth considering.
Part of our role is to help you consider the wider picture. If changing network isn’t necessarily the right answer, we’ll tell you.
Regulation & Other Key Considerations
Networks have come under increased FCA scrutiny to ensure their systems, controls, oversight and authorisation of new AR and Registered Individual (RI) members meet the required standard. This led to the AR Regime, introduced following an industry consultation launched in December 2021, putting forward proposals to improve the AR model — including enhanced oversight and requiring principals to give the regulator more information to identify issues faster.
As a result, networks now request more information from member firms, and anyone joining a network — whether for the first time or switching from another — should expect a more intrusive application process than before.
The AR Regime went live on 8th December 2022 following a lengthy implementation period. While all principal firms must adhere to it, how it’s applied can vary from network to network.
Other key considerations when choosing a network:
Company ownership
Venture capitalists or larger institutional investors may influence senior management and business direction.
Change management history
How well has the network handled enforced change or new systems/processes in the past?
Application process
How long does it take, what’s changed under the AR Regime, and what support is offered during the transition?
Contract & Exit Terms
Understand notice periods, termination provisions, client ownership and any restrictions that could affect your business if you later decide to leave.
Considering your network options?
Whether you’re joining a network for the first time, thinking about changing or simply want to understand what alternatives are available, book a free 30-minute conversation with no obligation.