MAB is one of the UK’s leading consumer intermediary brands and specialist networks for mortgage advisers. The Group consists of nearly 200 Appointed Representative firms (ARs) and approximately 2,000 advisers.
Who We Are
And What We Do
These advisers provide expert mortgage advice, assisting customers with home purchases, refinancing, and property investments. They also help homeowners secure funds for improvements and ensure financial protection for their homes and families against unforeseen events such as illness, property issues, or loss of life. Advisers act under the supervision of both their AR firm and MAB, which is directly authorised by the Financial Conduct Authority (FCA). MAB offers its ARs access to a comprehensive range of mortgage lenders, along with a dedicated panel of protection providers and insurers. Beyond market access, MAB provides extensive support and services, including business consultancy, technology, adviser recruitment, compliance, training, and marketing, empowering ARs to grow and succeed.
MAB has always positioned itself as a strategic partner for growth-focused firms with strong leadership. Our proprietary technology (‘MIDAS Platform’) is a major differentiator, along with our expertise in customer acquisition and retention. These strengths enable us to attract and retain many of the UK’s leading mortgage advice firms, reinforcing our reputation as a trusted industry partner. MAB has historically benefited from strong lead flow in the estate agency and new build sectors. Around half of our ARs and their advisers operate under the MAB brand for their trading style, leveraging its reputation and market presence to drive business growth.
Beyond our AR network model, MAB has made selective investments and acquisitions to enhance its expertise and accelerate delivery of its strategy. This includes expanding into national digital lead sources such as MoneySuperMarket, Compare the Market, and ClearScore through the acquisition of Fluent in 2022. This gives MAB a dominant position in the three largest lead sectors, with the Group arranging over £26bn of mortgages annually. MAB has an 8.4%3 market share of UK gross mortgage lending. Through the continued development of our technology (‘MIDAS Platform’) and our industry-leading expertise in customer capture and nurture, we anticipate sustained growth, with more firms choosing to join MAB.
Additionally, the enhanced features and functionality of our new MIDAS Platform significantly reduce the administrative workload traditionally associated with mortgage arrangements. By automating these tasks, advisers can focus on what they do best - providing expert guidance and support to their customers. Through a combination of organic growth and selective mergers and acquisitions (M&A), we aim to capitalise on emerging opportunities and drive significant expansion. Our goal is to double both revenue and market share over the medium term, reinforcing our position as a market leader whilst shaping the future of the intermediary sector.
Our
Strategy
A clear and deliberate strategy defines us. Our customer-first model embraces evolving consumer preferences, and our investment in technology and partnerships ensure that the business is future-proofed and primed for growth.
MAB has been built on a foundation of providing exceptional service for introducer lead sources and their customers. We have further strengthened this commitment by investing in early customer engagement, data analytics and profiling, to gain deeper insights into the needs of both existing and future customers. These enhancements not only improve the customer experience but also drive greater lifetime value.
We have added digital lead generation to drive additional lead flow from existing lead sources, including early-stage researchers that are not yet ready to speak to an adviser. This enables us to guide customers on their journey to become mortgage-ready, enhancing early engagement and converting a greater percentage of opportunities into completed business. Through our proprietary technology (‘MIDAS Platform’), we track the effectiveness of this approach. Customer referrals from existing lead channels have increased, and we continue to optimise this engagement strategy to maximise lead conversion.
Customer retention remains a key priority, with approximately 40% of our annual mortgage applications coming from returning customers who have transacted previously with MAB ARs. As the client bank continues to expand, so do retention opportunities, enabling our ARs to strengthen long-term relationships with customers and drive sustainable growth.
The acquisition of Fluent strengthened MAB’s market position, providing access to national lead sources and new digital channels, including strategic partnerships with MoneySuperMarket and Compare the Market. Building on that foundation, we have continued to expand and enhance our national lead sources. Together, these partnerships enable us to engage with customers early in their research process, leveraging data-driven insights to tailor our services and enhance lead conversion.
Lead generation – acquiring new customers, retaining existing ones, and increasing customer lifetime value – remains a key point of differentiation for MAB. Combined with our ‘MIDAS Platform’ technology, lead generation is a critical driver of adviser productivity and AR growth, performance, and retention. As technology and Artificial Intelligence (AI) continue to evolve, they will play a pivotal role in how our partner firms acquire, retain, and maximise value for their customers. We plan to continue investing in these areas, ensuring MAB’s business remains futureproofed and continues to deliver strong, sustainable, and profitable growth over the long term.
MAB operates a capital-light AR platform model, maintaining a consistently modest net debt position and low leverage. This financial strength enables us to make selective equity investments in top-performing companies. We collectively refer to these subsidiaries and associates as our ‘invested businesses’. Returns from these investments have been reinvested to enhance our value proposition, including advancements in technology and best practices, which significantly benefit our AR platform model. This hybrid model fosters a virtuous circle, driving operational efficiencies, synergies, and scalability while strengthening MAB’s operating leverage. MAB has built a strong portfolio of associates and subsidiaries, having acquired minority and majority stakes as well as making full acquisitions.
These strategic investments enhance our market position in key specialist areas, including new-build mortgages and digital customer lead generation, reinforcing our leadership and expanding our capabilities. These investments are complementary to, and supported by, the growth of our core platform AR model. The contribution to Group revenue and profit from our invested businesses has grown significantly since 2019 and is expected to continue increasing. Each acquisition is carefully aligned with a strategic objective. In 2022, our investment in Fluent marked a deliberate strategic move towards acquiring new customers through national and digital lead sources, including via Price Comparison Websites (PCW). The acquisition of Fluent was immediately followed by a very challenging macroeconomic period triggered by the 2022 mini budget. However, by focusing on returning the business to growth, Fluent is now well-positioned for continued growth and plays a fundamental role in the Group’s strategy for national lead sources.
While many industry players are shifting away from in-house solutions, proprietary technology remains central to our strategy. Our continued investment in ‘MIDAS Platform’, our proprietary technology platform, strengthens our ability to optimise operational efficiency and drive revenue growth from new lead flow, lead nurture, customer retention, adviser productivity and customer lifetime value. We firmly believe that technological advancement and AI will revolutionise our industry. By
retaining control of our technology, we can innovate freely, develop tailored solutions, and seamlessly integrate with our chosen partners, ensuring we stay ahead in a rapidly evolving market.
MAB recognises the growing importance of early customer engagement, which often starts well before they are ready to transact. A key focus area of ‘MIDAS Platform’ is enhancing the technology experience for both Advisers and customers. We
have already achieved significant time savings through innovations such as automated disclosures, document sharing, direct decision in-principle, and a customer-facing fact find that enables pre-filled data. Our goal is to cut the time required to complete a house purchase mortgage in half by the end of 2025 and achieve a further meaningful reduction in the medium term, leveraging the additional benefits of AI.
Upcoming upgrades will further enhance AR efficiency and have the potential to boost adviser productivity, reinforcing our commitment to a faster, smarter, and more seamless mortgage process. Our roadmap incorporates greater automation and AI functionality to drive growth and enhance operational efficiency across the business. These advancements will futureproof our model and reinforce our leadership position in the intermediary sector.
We see AI making a significant impact in four core areas:
- Lead triage and nurturing – improving customer engagement and conversion.
- Advice – leveraging a “guardian angel” tool to support both advisers and customers.
- Operational efficiency – streamlining central processes to enhance productivity.
- Compliance and audit – ensuring accuracy, consistency, and regulatory adherence.
By embracing these innovations, we are shaping the future of mortgage advice and customer experience.
Adviser numbers and adviser productivity are key drivers of MAB’s organic growth. Now that the housing and mortgage markets have stabilised and show signs of sustainable recovery, AR confidence is returning. As a result, we anticipate recruiting new ARs into our network, while existing ARs are expected to fill more adviser vacancies, driving overall adviser growth. We are also forecasting stronger adviser productivity. Additionally, our invested businesses have significantly higher adviser productivity than the average of our AR network and by sharing best practices and enhancing AR productivity through improvements in the ‘MIDAS Platform’ and AI, we expect to elevate performance levels across the Group.
Executive Directors
We have a very strong, loyal, and well-established senior team and the Group successfully endured one of the deepest and protracted recessions in the UK on record, remaining profitable throughout, and constantly growing market share.
Peter Brodnicki
Chief Executive Officer
2001 - Present
Peter has led MAB to become the UK’s most recognised intermediary consumer brand. With a network of more than 2,000 advisers, the business handles over £16bn of loans annually, and is the first and only mortgage intermediary to be floated on the London Stock Exchange.
Ben Thompson
Deputy Chief Executive Officer
2018 - Present
Starting out in financial services in 1986, Ben has had roles at Paymentshield, St. James’s Place, Winterthur Life and TSB, before holding senior positions at Legal & General Group plc. Ben was Chief Executive Officer of ULS Technology before joining MAB in 2018.
Emilie McCarthy
Chief Financial Officer
2024 - Present
Joining MAB in 2024, Emilie brings over 20 years of experience in finance, risk management, and global operations. Previously serving as CFO at CNBC International and Group CFO for Hult International Business School, Emilie is also a Chartered Management Accountant.
Paul Gill
Group Chief Risk Officer
2022 - Present
Paul Gill, Group Chief Risk Officer, joined the Board as an Executive Director, on 18 March 2025. He has been with the Company since 2022. Paul brings over two decades of extensive experience in compliance and risk management having held significant leadership roles throughout his career, including three years as Chief Risk Officer of MAB.
Non-Executive Directors
Mike Jones
Non-Executive Chairman
2019 - Present
Mike joined Lloyd Bank plc in 1985 and retired from Lloyds Banking Group plc (LBG) at the end of 2020. He worked in various roles across the group, most recently as the Managing Director for Intermediaries & Specialist Brands, which he has held since 2010.
Nathan Imlach
Senior Independent Director
2015 - Present
Nathan is the Chief Strategic Adviser to AIM listed Mattioli Woods plc, focussing on acquisitions and future development. He is a Fellow of the Chartered Institute for Securities & Investment, and holds the Corporate Finance qualification from the Institute of Chartered Accountants in England and Wales.
Rachel Haworth
Non-Executive Director
2024 - Present
Rachel has operated in the financial services industry for over three decades in a number of executive and non-executive roles. She currently serves roles at Mansfield Building Society and on the Phoenix Independent Governance Committees.
David Preece
Non-Executive Director
2004 - Present
David joined MAB as an Executive Director in 2004 and retired as Chief Operating Officer in 2019, remaining on the Board as a Non-Executive Director. He has more than 40 years of experience in financial services and is an Associate of the Chartered Institute of Bankers.