The Money Group (TMG) has been given the go-head by the regulator to start its own network of appointed representative (AR) broker firms.

In what TMG chief executive Martin Stewart calls “a big step for us,” the group will be able to sign up 25 AR firms, which it anticipates will double its broker headcount within 12 months.

TMG Recruitment and brand development director Dave Corbett says the move is “crucial to our continued growth”.

“This network enables us to deliver tailor made offerings for firms who prefer being part of a network and it helps us facilitate that transfer without disrupting their income or the serviceability of their clients,” Corbett continues.

He adds that the network will be exclusive, with a minimum entry level, “and specifically for firms that we believe we can help deliver significant growth.

Stewart says this entry level is “likely to be tailored” and, “We’ll know pretty early on if we’re right for each other.”

Stewart continues: “We spend a lot of time speaking with brokers from many different backgrounds and those conversations only confirmed what we already knew – many are unhappy and frustrated with the current narrow range of industry offerings.”

TMG managing director Scott Thorpe says: “Over the last 12 months our compliance and operations teams have been working tirelessly building a robust process to make sure that when we rolled out TMG Network we could do so with confidence.

“I would like to thank the first three firms within the Network, Create Finance, Legacy Financial and Cheshire Money, who have given us great feedback which helped us streamline the process and has now enabled us to open this out to more firms.”

At the end of April this year, TMG launched its mortgage club, TMG Club.