Mortgage and protection brokerage Access Financial Services has reported what it calls “exceptional growth” with turnover up 46% between April 2023 and April 2024.
With Consumer Duty compliance at the core of the business, the firm’s year-one client retention rate stands at 94%.
Access FS attributes this to an evolving business strategy confronting the challenges of a tough housing market. The firm increased protection sales and brought on more protection advisers, providing them with training and opportunities to also sell mortgages.
Alongside an increase in mortgages sales, the number of protection policies written rose by 34% from 10,052 to 13,500. The firm now also writes around 75% of their policies in trust.
Chief executive Karl Wilkinson says: “We are changing the shape of the mortgage market through our training academies. Run monthly, we bring young and inexperienced people into the industry, offering high-quality training and support and a year-long mentoring programme.”
Entrants to the Access FS Protection Academy has this year doubled from 15 to 30 monthly.
Wilkinson adds: “All industry newcomers start on our protection partnership programme with Vitality. After a year of understanding protection in depth with a single provider, only then do our advisers progress to selling whole-of-market products. At this point, they also have the opportunity to enrol in our CeMAP training academies and go onto offer mortgage advice.
“This responsible approach ensures that clients get the best outcomes from Access FS advisers. It also serves protection providers by removing the risk of ill-advised sales and commission clawback.”
Experienced advisers benefit from continued learning and development, management, sales, legal and soft skills competencies.
Wilkinson concludes: “We reinvest profits to benefit staff and advisers with skillset development, advanced training, and our Access FS mortgage and protection academies.”
