About Us

MAB’s success has been built on being the leader in providing an exceptional service to introducer lead sources and their customers. Further investment in early customer capture and nurture, data analytics and customer profiling are helping us build a better understanding of our existing and future customers and how to best service their requirements to generate a greater lifetime value.

This learning is driving the development of our customer and broker platform, our apps and tools, whilst shaping our entire customer engagement strategy. These optimisations are already showing early signs of the size of the opportunity we have, including an increasing number of customer referrals from our existing lead channels, supporting the conversion of all leads, and identifying a demand for additional products and services.

MAB’s client bank and related retention opportunities grow year after year, as MAB and its ARs continue to generate new lead flows. Although we’re in the early stages of implementation, we’re entering an exciting period as we layer additional opportunities to attract potential customers to MAB.

Our acquisition of Fluent has added PCWs, and other major national lead sources, to MAB’s market leading position in the estate agency and new build sectors. Although MAB is the market leader in customer acquisition and fulfillment from local and national leads sources, we also support our ARs in optimising direct customer engagement and acquisition through organic website traffic and social media.

Whether through engaging new customers, retaining existing customers, or increasing their lifetime value, lead generation is MAB's key differentiator. Technology and artificial intelligence will increasingly impact adviser growth, performance, customer acquisition, retention, and extended value for our consumers. Continued investment in these areas will be a priority for us, regardless of market conditions, and will underpin our strategy for market share and profit growth.

Adviser growth remains a major focus for MAB, driven forward by servicing new lead flow whilst our continually-improving technology is maximising opportunities from existing customers and lead sources.

As of September 2024, our number of mainstream advisers grew to 1,945. We expect to further this growth through fresh recruitment into MAB and by existing ARs growing adviser numbers once again.

We expect the recruitment of growth-driven firms to remain strong, as more directly authorised firms seek greater support from a strategic partner like MAB to satisfy higher expectations from the regulator.

Our subsidiaries and associates have strengthened their businesses and are in a good position to capitalise on a recovering market and make a stronger contribution to the Group’s overall performance.

On 29 May 2024, MAB exercised its option to purchase the remaining 20% stake in First Mortgage Direct (“FMD”) for a total consideration of £9.4m payable as £2.4m of cash consideration and £7.0m of new shares in MAB. Since MAB’s original investment in 2019, FMD has increased profit before tax by over 250%. FMD is now preparing for an accelerated UK expansion.

Management completed the project to right-size the cost base of Fluent in H1 2023, leading to gross profit margin increasing to 32.5% (H1 2023: 21.7%) and Fluent making a positive profit contribution in H1 2024. With a better-balanced cost base, new lead sources and processes, and a strengthened management team, the business is well-positioned for continued recovery and growth into 2025.

We expect strong performance from all our subsidiaries and associates in 2025/26, and we have plans to scale a number of them significantly.

Whilst others move away from in-house solutions, technology remains central to our strategy and our investment in our MIDAS Platform, our proprietary technology platform, will continue at the levels required to ensure we are always in the strongest possible position to optimise operational efficiency and drive revenue growth from new lead flow, lead nurture, customer retention, adviser productivity and customer lifetime value.

Our strategy is to continue developing our system, to provide a best-in-class experience for our firms and improve the customer journey. To this end, management is currently reviewing whether the historic accounting policy to fully expense these costs appropriately reflects the expected future economic benefit associated with the ongoing investment.

We are committed to maintaining differentiation through the technological advantage our MIDAS Platform gives us, and our roadmap now incorporates enhanced functionality through the adoption of AI. As with our MIDAS Platform development, automation and AI will significantly contribute to our growth plans and operational efficiency across all areas of the business, as well as future proof our business model and cement our leadership position in the intermediary sector.