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Ami warning on idds in bid to improve record-keeping

The Association of Mortgage Intermediaries is warning all member firms to rethink the way they handle their initial disclosure documents in a drive to tighten up record-keeping across the industry.

The AMI is producing a 10-point guide to safe rec-ord-keeping.

The guide recommends that all members note the type of IDD issued and also date stamp each document to ensure accurate archiving. The guide is free to AMI members.

The AMI rejects claims that the process amounts to further red tape and warns that the ever-changing nat-ure of the regulatory framework requires a clear and accurate system to ensure accountability.

Director Chris Cummings says: “The initial disclosure documents must set out what the business is and what it does. As our industry changes, these descriptions will change too.

“While there is no doubt that an intermediary’s IDD will be correct when it is handed over, if a complaint arises later, an ombudsman will want to see a copy of it. As complaints can arise years after the initial meeting, unless firms have rec-orded the type of IDD iss-ued, they could run into problems that risk undermining their defence against the complaint.”


Mattison on Pensions Associates Board

Richard Mattison has been promoted to Pensions Associates’ board taking on the role of business development director. Mattison joined Pension Associates in 2003 as account administrator later being promoted to business development manager. He has previously worked for James Hay and Friends Provident.

Forsyth launches specialist portfolios

Forsyth Partners has launched two specialist sector funds of funds targeting returns from global commodities and property.The Bermuda-domiciled funds of funds portfolios will be managed by Forsyth Partners chief investment officer Peter Toogood.Forsyth global property will have an income bias while global commodities will target capital growth. Both carry a 2 per cent annual management […]

Independent view

Any financial adviser worth his salt will always start any financial planning exercise with a detailed budget so that the client’s overall objectives can be set. This then forms the framework for the financial planning exercise.


What employers should expect over the next five years

A major feature of our articles is looking into the Jelf Employee Benefits crystal ball to predict changes and trends that may influence the short and medium term shape of UK employee benefits.  By flagging such changes early we aim to provide our followers with the tools to make sensible and informed decisions on their benefits offerings.


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