For mortgage adviser Ammy Bining, buying Freshfield Mortgages was the culmination of a journey that began when she worked alongside the business as a conveyancer and discovered the difference good mortgage advice could make.
Today, Ammy is a Mortgage & Protection Adviser and Director at DAST Mortgages. Through a Practice Buy Out (PBO), she took ownership of Freshfield Mortgages, the business that first inspired her move into financial services.
Her story demonstrates how the right opportunity, combined with strong network support, can help an adviser progress into business ownership while protecting established client relationships and creating a platform for future growth.
Discovering the value of mortgage advice
Ammy’s introduction to financial services came through her work as a conveyancer for a solicitors’ firm. Her role gave her a close-up view of the legal side of property transactions and brought her into regular contact with Freshfield Mortgages.
It was through this relationship that she began to understand the important role mortgage advisers play in helping clients navigate one of the biggest financial and emotional decisions of their lives.
“I originally started my career working as a conveyancer for a solicitors’ firm, where I was involved in the legal side of property transactions. Through that role I worked very closely with Freshfield Mortgages and saw first-hand the positive impact that good mortgage advice can have on clients during what is often a very important and emotional milestone in their lives.”
Inspired by what she saw, Ammy decided to undertake work experience with Freshfield Mortgages. The experience allowed her to see the property journey from the adviser’s perspective and confirmed that she wanted to pursue mortgage advice professionally.
“I quickly realised that I loved the client-facing aspect of the role and the opportunity to guide people through their home-buying journey, which led me to begin my career as a mortgage broker.”
It was the beginning of a relationship with the business that would eventually come full circle.
Taking ownership of Freshfield Mortgages
After beginning her journey with Freshfield Mortgages, Ammy developed her knowledge, confidence and experience as a mortgage broker.
When the opportunity arose to buy the practice, it represented a major professional milestone. It also gave Ammy the chance to take responsibility for a business with which she already had a meaningful connection.
“Without a doubt, the achievement I’m most proud of is taking over Freshfield Mortgages. It feels particularly meaningful because my journey into mortgage advising actually began while I was working closely with the business as a conveyancer.”
The Practice Buy Out enabled Ammy to move from working alongside the business to taking ownership of its future.
“To go from observing the mortgage process from the legal side, to gaining work experience with Freshfield, becoming a mortgage broker, and then eventually taking over the business is something I’m incredibly proud of.”
The acquisition was not simply about becoming a business owner. It enabled Ammy to build on the relationships, reputation and approach to advice that had first sparked her interest in the profession. It also gave her access to an established client base and a strong platform for future growth.
Mark Bendle, Head of Contract Services at The Openwork Partnership, explains:
“Practice buy-outs can provide advisers with an accelerated route into business ownership, giving them access to an established client bank and a platform for future growth.”
For Ammy, acquiring an established business provided an opportunity to expand her reach and build on the ambitions she had developed throughout her career.
“In Ammy’s case, acquiring an existing business created immediate opportunities to serve more clients, grow revenues and build on her long-term ambitions as a business owner.”
Reflecting on the support surrounding the PBO, Ammy says:
“My experience of PBO was extremely positive. It helped build my confidence and provided the knowledge and support I needed. Looking back, it was an important stepping stone in my career and played a key part in helping me become the adviser I am today.”
What is a Practice Buy Out?
A Practice Buy Out is the acquisition of an existing financial advice or mortgage business. It can provide an adviser with an opportunity to become a business owner, expand an existing firm or acquire an established client bank.
It can also form an important part of succession planning. When an established business owner is ready to step back, a Practice Buy Out can help provide continuity for clients, colleagues and the business itself.
Openwork supports both buyers and sellers throughout this process, helping advisers explore the options available to them and find solutions that support long-term client outcomes.
As Mark Bendle explains:
“We work with advisers who are looking to retire or exit their business, helping them explore succession planning, management buy-outs and internal acquisition opportunities across the network.”
Where a succession route cannot be identified within the business, the team can also help facilitate conversations between sellers with prospective buyers.
“Where there is no natural internal successor, we can connect prospective buyers with business owners looking to sell, facilitating introductions and supporting conversations through to agreement.”
Supporting buyers and sellers through the transaction
A Practice Buy Out involves much more than bringing together a buyer and seller. Both parties need to consider the valuation and structure of the deal, legal agreements, revenue transfer, client servicing arrangements and the future operation of the business.
Openwork provides support throughout these stages.
“We support both buyers and sellers with business valuations, deal structuring, funding conversations and commercial considerations to help create a sustainable outcome for everyone involved.”
Once a transaction progresses, a dedicated caseworker helps guide both parties through the process.
“For every practice buy-out, we appoint a dedicated caseworker who works alongside both the buyer and seller, helping to structure the deal, navigate contractual considerations and keep communication flowing throughout the transaction.”
In Ammy's case, dedicated caseworker John Jamieson provided support throughout the transaction, helping facilitate discussions and ensuring progress was maintained.
The team also provided template contracts to support negotiations and discussions, while encouraging both parties to seek independent legal advice.
“We provide template contracts to support discussions and encourage both parties to seek independent legal advice, helping to streamline the process and reduce unnecessary delays.”
Behind the scenes, Openwork also managed the operational and administrative aspects of the ownership transfer.
“Our team manages the internal ownership transfer process, including revenue migration, client access changes and liaising with providers to ensure client servicing rights are transferred correctly.”
For advisers acquiring a business for the first time, having experienced support throughout the process can be invaluable.
“We stay closely involved throughout the process, providing regular guidance and support to both parties, which can be particularly valuable for advisers completing their first acquisition.”
Even after a deal has been agreed, support continues through to completion.
“Once a deal has been agreed, our Contract Services team and caseworkers remain involved, helping guide the transaction through to completion.”
Supporting the next generation of business owners
Funding is often an important consideration for advisers looking to acquire a business. Openwork can provide access to funding support where appropriate, helping prospective buyers explore the options available to them.
“Openwork can provide access to acquisition funding where required, giving advisers additional flexibility when purchasing a business.”
For many advisers, the move into business ownership also involves developing new skills. Running a successful business requires expertise in leadership, planning, operations and growth alongside advice delivery.
To support this transition, Openwork offers development programmes designed specifically for aspiring principals.
“Our Route to Principal Programme helps advisers develop the business leadership and management skills needed to make a successful transition into business ownership.”
Combined with ongoing support through Openwork’s CII-accredited Business School, advisers have access to development opportunities throughout their journey into ownership.
Why the right network matters
Ammy’s experience of working within another network reinforced the value of accessible support.
“There was very little support available when dealing with cases, and I often felt that I had to navigate both the systems and more complex situations largely on my own.”
This experience influenced her decision to join Openwork. For Ammy, the strength of a network is not only important to the adviser. It can also affect the service and experience they are able to provide to clients.
“That experience made me realise how important a strong network is, not just for advisers, but ultimately for the clients we look after. Openwork stood out to me because of its reputation for adviser support, accessible help when needed and a collaborative culture.”
Since joining, she has found that having reliable systems and people available to help has increased her confidence and enabled her to remain focused on client outcomes.
“I’ve found the systems much easier to work with, and whenever I’ve needed assistance there has always been someone available to help. The support has given me greater confidence in handling cases and has allowed me to focus more on delivering the best possible service to my clients.”
“It genuinely feels like being part of a network that wants its advisers to succeed.”
Building a business with a wider purpose
For Ammy, business ownership also provides an opportunity to create a positive impact beyond mortgage advice.
Through her business, £20 is donated to a domestic abuse charity for every completed mortgage case. The commitment connects the growth of the firm with consistent support for women and families facing extremely difficult circumstances.
“Working in the mortgage industry, I’m constantly reminded that a home is about far more than bricks and mortar. It represents security, stability and a fresh start.”
“Knowing that each completed case helps support women who may be rebuilding their lives gives our work a deeper sense of purpose. It also helps keep our team focused on the positive impact a business can have beyond its commercial goals.”
Her approach demonstrates how taking ownership of a practice can give an adviser the freedom to shape its culture, purpose and future direction.
Encouraging more women into business ownership
Ammy is also passionate about encouraging women to pursue leadership and business ownership opportunities within financial services.
“I think women in financial services still face challenges around confidence, visibility and representation, particularly in leadership and business ownership roles.”
She believes that supportive professional relationships and the visibility of successful women can help others recognise what is possible.
“Having supportive mentors and colleagues has made a huge difference. I believe one of the best ways to overcome these challenges is by creating stronger networks for women, encouraging mentorship and being more open about sharing our experiences.”
This belief also inspired Ammy to co-author a book alongside ten other businesswomen, sharing their different routes to success.
“We wanted to share our individual stories and show the different paths that led us to where we are today. We hoped that by sharing our experiences authentically, readers would see that success doesn’t follow one set route.”
Growing the business and her personal brand
Ammy’s next goal is to strengthen her personal brand and become a recognised, trusted voice within the UK mortgage industry.
“I genuinely believe that, in today’s market, people choose to work with people they know, trust and connect with, so developing a clear and authentic personal brand is a major focus for me.”
By sharing useful advice and making the mortgage process feel less intimidating, she hopes to reach more clients, strengthen existing relationships and support the continued growth of the business.
Her approach reflects a wider lesson from her journey. Buying a practice is not the end goal. It is the beginning of a new chapter, with responsibility for its clients, reputation, people and long-term success.
Could a Practice Buy Out be your next step?
Ammy’s journey shows what can be achieved when ambition is backed by the right opportunity and support.
From seeing the impact of mortgage advice as a conveyancer to taking ownership of the business that inspired her, she has built a career founded on trusted relationships, determination and a commitment to helping others.
For advisers thinking about buying a practice, or business owners beginning to think about succession planning, Mark has a simple message:
“If you're considering a practice buy-out, start by speaking to your PDM or Contract Services team. We can help you understand the options available and support you throughout the process.”
“Whether you're looking to buy, sell or plan for the future, Openwork offers support across succession planning, management buy-outs and acquisition opportunities within the network.”
“The most important thing is to start the conversation early. The sooner we understand your goals, the more effectively we can help you achieve them.”
If you are considering buying an advice practice, growing through acquisition or planning the succession of your own firm, Openwork can provide the infrastructure, expertise, professional community and ongoing support to help you move forward with confidence.