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M&E sees advantage in not being tied to one tech firm

M&E Network believes it can steal a march on its rivals because it is not

tied to one technology provider like many of its competitors, according to

chairman Barry Kayes.

Kayes claims that because it does not own nor is it owned by a software

company, it has the freedom to do business with a number of different

providers, leaving it able to pick the best parts from each soft-ware


Most of the major IFA networks have some relationship with a technology

company. In some cases, the network owns the software firm, such as DBS

which owns AssureWeb and Berkeley Independent which controls Synaptic.

In other situations, the software company owns the network, such as Lynx

which owns Bankhall and Misys which owns Countrywide, Kestrel and IFA


Kayes revealed M&E&#39s plan for its Independent Mortgage Advice network. It

will use the software of The Exchange to help IFAs satisfy lender concerns

over compliance under the new regulatory regime.

He said: “We deal with a whole range of companies that provide us with

various technological requirements. There are no intentions on the part of

M&E to change this situation anytime soon.”


Endowment complaints double

Complaints about endowment mortgages have more than doubled in the lastyear, according to the new financial ombudsman service.The news comes as the FSA reveals to Money Marketing that three millionreprojection letters have been sent out to consumers tellingthem ofpotential shortfalls on their mortgages.The financial ombudsman service says complaints are now up to 500 cases amonth […]

Court shuts down Century mortgage accelerator firm

Mortgage broker Century Mortgages and its associate Mortgage ControlServices are to be wound up for misleading their clients and the salesteam.The Department of Trade and Industry petitioned the High Court to closethe companies down on the advice of the Secretary of State for Trade andIndustry who found the companies had not warned clients about thedisadvantages […]

Michael Folger

More than a passing resemblance to Paul Newman, don&#39t you think?” asks FSApress officer Jackie Blyth as she hands me a photo of director ofinvestment business Michael Folger, a piece of information which is dulyfiled in case he needs to be charmed.But it turns out that such journalistic tricks are not needed. He is theone […]

Mind the gap

It takes a lot to be an IFA. Even after qualifying, there is regulatorypressure to demonstrate professional competence continuously.FSA head of industry training David Jackman, says: “One exam taken at theoutset of a career does not guarantee competence through a person&#39s workinglife, hence, CPD needs to be prominent.”How does an IFA keep up with new […]


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