A new mortgage brokerage The Finance Company (TFC) is being launched by Nick Simmons, backed by TAB founder and chief executive Duncan Kreeger.
Simmons, who will take on the role of managing director, will shape TFC’s proposition, manage the company’s operations and provide strategic guidance to ensure objectives are met.
He will also maintain introducer relationships, oversee service levels and develop sales training processes and reporting MIs.
Simmons says he has started recruiting intermediaries and interviewing candidates.
TFC has been launched alongside Magnus Duke Dadzie, who will become the executive director.
Most recently, Dadzie worked as a specialist broker at London Belgravia Brokers. He has also held business development manager roles at Montello, Ortus, Propfin and LendInvest.
Commenting on the new brokerage, Simmons says: “I want to put our clients at the heart of transactions. We’ll do face-to-face meetings and we won’t charge clients to meet us. Our fees will be low. And we’ll offer holistic advice: TFC is whole-of-market, with more than 170 lenders on our panel. That means we will always be able to find our clients the perfect product to meet their needs.”
“My vision is to take on a minimum of five additional advisers by January 2023 with another 10 advisers hired by the end of 2023.”
“By then, I want us to be completing 100 mortgages every month. I’m ambitious and I want TFC to grow 40% year on year until we become one of the biggest players in the industry.”
Dadzie comments: “We’ll be looking to help people with auction and bridging finance — as well as BTL, commercial, semi-commercial and residential loans.”
Kreeger adds: “I have been thinking about acquiring a brokerage for a while. But with people like Nick and Magnus on board, I realised that we could be more ambitious and grow a business organically.”
“TFC is a wholly independent business with necessary measures taken to ensure separation from TAB, such as Chinese walls, in place.”
“TFC could be the first of many investments. I am interested in acquiring mature businesses in property and insurance as well as another mortgage broker – and launching more start-ups, too.”