Movo Partnership launches Accelerator to support broker startups

Movo Partnership, part of the AUB group and an Appointed Representative (AR) network for brokers, has launched ‘Movo Accelerator,’ a platform designed to help aspiring entrepreneurs start their own broking businesses.

Movo Accelerator addresses the common hurdles of startup costs and the challenges of the first 12 months of trading, which are often key barriers to success.

It provides funding for salaries, infrastructure, and essential support services needed to get a broker business off the ground, in exchange for an equity stake. Each agreement is customised to meet the needs of the individual broker.

Lea Cheesbrough, CEO of Movo Partnership, stated, “We’ve had great success with startup 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 startup 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.”

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