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LIA targets loan advisers as it aims for professional status

The LIA is aiming to attract mortgage brokers into its fold as it moves towards being a true professional association.

The association previously concentrated on tied salespeople and IFAs.

Mortgage advisers presently make up about 1,200 of the 20,000 LIA members. Director general Mark Ommanney says there are tens of thousands of loan advisers who would benefit from LIA membership.

He says mortgage advisers have the Association of Mortgage Intermediaries but are lacking a professional body. He says LIA initiatives such as its mortgage assess training and compliance offerings are attracting mortgage advisers into the fold.

The association will be consulting with members on changing its name in the next year and is looking for a new chairman who will be responsible for the LIA&#39s strategic direction.

Ommanney says: “With regulation drawing closer, mortgage advisers will need representation, direction and leadership in the same way as other advisers. We have been lobbying on mortgage issues for the past 10 years and we are building a very strong value proposition for mortgage advisers.”

AMI director Chris Cummings says: “We hope to see what the LIA is doing as complementary to us. They are very clearly going down the path of a professional body and we are going down the path of a trade association.”


Income tax – pensions

The Inland Revenue has recently released its second consultation paper on the introduction of a new simplified tax regime for pensions. If the proposals get the final go-ahead, they will apply to all existing approved pension arrangements. However, the new provisions will not come into effect until April 6, 2005 at the earliest. In the […]

Iimia – Iimia Investment Trust

Type: Investment trust Aim: Growth by investing in investment trusts Minimum investment: Lump sum £5,000 Investment split: Up to 100% in investment trusts, remainder in cash Types of shares: Ordinary Isa link: Yes Pep transfers: Yes Charges: Annual 0.5%, performance fee 15% Commission: None Tel: 01202 766755

Abbey axes annual bonuses

Abbey has admitted that no annual bonus will be paid for the with-profits policies of Abbey National Life, Scottish Mutual and Scottish Provident except where guaranteed rates of bonus apply. Terminal bonus rates will also be reduced for unitised and traditional with-profits policies from March 2004. Abbey says the stockmarket recovery has been too short […]

Ingledew leaves BBB

Berkeley Berry Birch has announced that group chief executive Stephen Ingledew is to leave with immediate effect. Executive chairman Clifford Lockyer is to add the chief executive&#39s job to his responsibilities, with finance director Craig Butcher continuing as finance director. The announcement comes less than a week after it emerged BBB is winding up the […]

Inheritance tax when it is relevant

Neil Jones is Technical Support Manager with Canada Life’s ican Technical Services Team. Canada Life offers a range of wealth management solutions, including retirement income planning, estate planning and investment solutions from a choice of jurisdictions, including the UK, Isle of Man and Republic of Ireland. A trust can offer significant advantages when an individual is […]


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