The UK’s largest home loan networks experienced the biggest losses in designated independent (AR) assets during the first three months of the year as sellers sought support in keeping with changing technology and fairer exit conditions.
The Network Consulting Service’s Q1 2026 Network League table shows higher activity in all major networks, compared to Q1 2025, as the movement of consultants remains active in both established and growing networks.
The total loss is huge
St James’s Place Wealth recorded a net loss of 50 firms in Q1 (-1.9%) following a gain of 38 firms (+104 in Q1 2025) but lost 88 (-51 in Q1 2025), taking its AR firm count down to 2,685.
Quilter recorded a net loss of -27 compared to 1 in Q1 2025 while Primis saw the numbers of AR companies drop by -19 compared to -12 last year after almost the same number of firms left, but fewer joined.
HLP Partnership reached the top five networks in Q1 2026 after the net profit of 19 AR firms took its total from 545 at the end of 2025 to 568 at the end of March.
This performance dropped Openwork to sixth place in terms of total AR company numbers after 17 firms left the network in Q1, reducing its total from 566 at the end of 2025 to 543. Openwork’s Q1 net change was -12 compared to -6 in Q1 last year.
Dragon Brokers, on the other hand, lost 22.4% of its advisory firms after 14 left the network to reduce it to 49. This compares to a decrease of 10.7% in Q1 2025.
Q1 winners
Leading the pack of mortgage networks making the biggest profits in Q1 were Stonebridge and HLP with 19 each.
In 12 months, Valid Path increased from 14th to him 9th in the league area, although it is more focused on the wealth sector.
Sesame enjoyed great success in Q1, winning 17 AR firms, compared to 0 at the same time last year. In fact, the network’s first quarter results outperformed its 2025 performance, when it acquired 15 firms throughout the year.
After the numbers
Schroders, the parent company of Best Practice IFA Group, has agreed to be sold to Nuveen although it is uncertain what this means for the network at this stage.
Julian Harris has seen a jump in AR numbers but this can be explained by the change of one brand name from Julian Harris Mortgages to Julian Harris Adviser Network, with the simultaneous dual registration of firms within Julian Harris Financial Advisers.
Primis, the Mortgage Advice Bureau and Openwork have spoken of their continued investment in technology, operational infrastructure, and adviser support as competition across the brokerage industry intensifies.
Paul Day of Network Consulting Services commented: “The evolving regulatory environment continues to influence strategic decision-making across the consultancy sector.
“Historically, consultants may have focused more on commercial terms or commission structures when considering a move. Increasingly, firms are placing equal importance on the culture of compliance, technical capabilities, operational support such as digital and social marketing, terms of exit contracts and long-term business planning,” he said.
