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New Lynx network for mortgage advisers

Lynx Group is setting up a sister IFA network to Bankhall to help intermediaries advising on mortgages, general insurance and unregulated products cope with escalating compliance demands.

Due to launch on October 15, Point One will negotiate higher commission fees and exclusive deals for intermediaries concerned they will struggle to cushion the financial blow delivered by tougher regulation requirements after N3.

Lynx says the network – due to be announced at Bank-hall&#39s conference in Monaco this week – will provide IFAs with comprehensive sales support, mortgage-sourcing software and advice on compulsory Cemap and Maq training.

It will give brokers access to online quotations on non-regulated insurance products, including term insurance, critical-illness cover, PMI and Asu. Professional indemnity insurance will be negotiated and intermediaries can get assistance from the 90 compliance officers working for Bankhall. Membership is free but Point One will take an undisclosed percentage of commission.

Head of sales Mike Buckley says: “With N3 looming, Point One will provide a single point of contact and support for intermediaries, with the additional and increasingly important benefit that lenders are assured of the compliance status of member individuals and firms.”

Riach Independent Financial Advisers proprietor Bob Riach says: “It is the smaller IFAs – who do not have back-office resources – who could really benefit from this service. I just hope it can back up with the admin that something like this takes.”


Aegon Asset Management MD steps down

Aegon Asset Management managing director Russell Hogan is stepping down from his role in favour of pursuing other interests outside fund management, such as taking a theology degree. He will relinquish control of AAM some time next year, but will stay within the Aegon group to follow a more strategic role. A successor will be […]

Sunny side up

Portman&#39s move last week to acquire Sun Bank marks a major milestone both for the society and the mutuality movement. It comes at a time when many mainstream lenders are looking to boost profits through the specialist lending sector but until now only monolithic mutuals such as Nation- wide and Britannia could boast a non-conforming […]

Standard will run NHS stakeholders

Standard Life has been appointed as the designated stakeholder and group AVC provider for the Civil Service and National Health Service. About 960,000 NHS staff will have access to Standard Life stakeholder or AVC products as well as 490,000 Civil Service employees. Standard says the NHS schemes will potentially be the biggest it will manage. […]

Chelsea cuts interest rate

Chelsea Building Society is cutting its standard variable rate by 1.5 per cent from 6.49 per cent to 6.34 per cent with effect from September 30.The cut follows the 0.25 per cent cut in the Bank of England base rate announced last week. Chelsea is now offering three new fixed rate products, all fixed until […]

China: growth defence or another debt-fuelled boom?

By Douglas Turnbull, Head of Chinese Equities at Neptune Following recent stimulus efforts from Beijing, Neptune’s Douglas Turnbull examines how the government’s long-term reform agenda can be balanced with supporting growth and addressing structural challenges, and the investment opportunities arising from this.Click here to read more Important information: Investment Risks Neptune funds may have a […]


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