The move, to help give ARs an alternative income stream through investment and pensions products, was unveiled by Mortgage Intelligence managing director Sally Laker at the firm’s annual member conference this week.
MI ARs will continue to write mortgage business through MI but investment and pensions under the Lighthouse banner.
Laker says the initiative will be targeted at ARs who have the relevant investment and pensions qualifications and experience. She says refresher courses are likely for advisers who have been out of the investment and pensions industry for a certain period.
Laker says: “We have looked at the current market conditions and realised that there is a substantial opportunity for many of our brokers to increase their income through investment and pensions products. Many of our AR members have the qualifications to sell investments and pensions but in the past few years have concentrated on mortgages and protection products. Now that the market has tightened and there is a need to maximise all income streams, we felt the need to offer an extension of our product choice.”
Lighthouse joint group chief executive Malcolm Streatfield says: “I’m delighted and excited with the launch of this initiative and that both companies will be working together to positively develop this for the benefit of advisers and clients alike.”