"Some struggle to find the financial backing needed to launch, run and cover costs until they win their first clients. "
- Lea Cheesebrough, Movo Partnership CEO
Movo Partnership, an appointed representative (AR) network for brokers, has announced the launch of ‘Movo Accelerator’ a platform those looking to develop their own brokerages.
Movo Accelerator provides a solution to start-up costs and the first 12 months of trading. The investment from Accelerator covers salaries, infrastructure, and the full range of essential support services to get a broker up and running in return for an equity stake in the business. Each deal is tailored to the requirements of the individual broker.
Lea Cheesebrough, Movo Partnership CEO, said: “We’ve had great success with start-up businesses over the past five years – of the more than 100 businesses in our network over half are new start up brokers. Our experience shows that there are a lot of ambitious account execs out there with the right mix of talent, energy and drive to make a success of their own business, but some struggle to find the financial backing needed to launch, run and cover costs until they win their first clients. Movo Accelerator is a bespoke solution which enables these entrepreneurs to access the funding to fulfil their dream of starting their own business.”
James Hart, Movo Partnership development director, added: “I’m incredibly excited to have joined the Movo team to launch this unique and exciting proposition. As an appointed representative network, Movo Partnership provides a fantastic service to brokers with everything they need to trade – from client money, banking and insurer reconciliation, to compliance, marketing and systems support. Movo Accelerator takes this service to a much wider audience by providing the funds for start-up costs.
“With broker M&A in the insurance market continuing at pace, Accelerator will help the next generation of brokers get a foothold in the market.”
