The 20 fastest-growing appointed representative (AR) firms within the Stonebridge network increased their revenues by an average of 117% over the past year, according to an analysis by the mortgage and protection network.

The research, which examined firms’ revenues over two years, found considerable differences in growth among the highest-performing businesses, with one AR recording an increase of 857%.

Among the 10 fastest-growing firms, average annual revenue growth reached 188.8%, while the top five achieved an average increase of 289%.

Stonebridge restricted its analysis to appointed representative firms with at least five active advisers, focusing on established businesses rather than smaller operations or newly formed firms.

The findings come against a backdrop of fluctuating swap rates, mortgage affordability pressures and uneven application volumes, highlighting the extent to which some intermediary businesses have expanded despite wider market challenges.

However, the figures relate specifically to the network’s fastest-growing firms and do not represent revenue growth across its AR membership as a whole.

BUSINESS DEVELOPMENT SUPPORT

Stonebridge attributed the performance of its leading firms to business planning, adviser recruitment and investment in technology and staff development.

The network provides members with access to its Revolution technology platform, alongside business development and recruitment support. It also operates a Skills Development Programme incorporating behavioural science principles intended to improve customer outcomes.

Rob Clifford, chief executive at Stonebridge, said: “These results are not the product of good luck. They reflect clear goal setting, disciplined execution and a willingness among our business principals to invest in the fundamentals of sustainable growth.

“That ambition is matched by our own continued investment in the technology, expertise, and hands-on support that helps turn our member firms’ plans into reality.”

Clifford believes the figures demonstrate that there are still opportunities for established advice firms to expand despite difficult trading conditions.

He added: “The mortgage market is still a very fertile place to grow a business. Seeing the efforts of our business principals bear fruit like this is still one of the most exciting parts of my job. It never gets old.”