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Broker Talkback

Is the Association of Mortgage Intermediaries right to be concerned about mortgage brokers selling guaranteed investment products to their clients?

Yes 88%
No 12%

Yes “It is worrying. I am not sure it is right for mortgage brokers to sell investment products.”

Malcolm Hooper, IFAS

Yes “Brokers do not have the regulations and experience needed for this type of product.”

Geoff Baggott, Townsend Financial Services

Yes “I think the AMI is right to be concerned. All intermediaries should make it crystal clear to consumers what their capacity is.”

David Jones, North Wales Independent Advice

Yes “They need to be authorised to sell investment products to their clients. People can do both if they are qualified.”

Alan Thompson, Alan Thompson Financial Services

No “As long as they have compared all the products out there on the market and are satisfied the product is right for the client, I do not see the problem.”

Tony Catt, Tony Catt IFA

Yes “There is a concern if they are not qualified to advise on those products. It also comes down to disclosure and if their status is made clear to consumers.”

Martyn Evans, Evans Ash Financial Services

Yes “We decided that we do not have the in-house expertise to sell mortgages, so we outsource them to a specialist. Mortgage brokers should do the same if they do not have full investment expertise.

Alan Buet, Delta Financial Management

Yes “If they are not qualified, they should not be doing it.”

David Thompson, David Thompson Independent Financial AdviserMoney Marketing welcomes readers’ letters for publication which can be be sent by email to letters@ money marketing. co.uk

Letters can also be posted to: The Editor, Money Marketing, 50 Poland Street, London, W1F 7AX or faxed on 020 7943 8097

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