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One in three advisers still undecided about post M-Day status

Thirty three per cent of mortgage brokers are yet to decide whether they will be directly authorised, appointed representatives or introducers post M-Day, according to new research from Next Generation Mortgages and its network arm networkone.

A poll of 12,000 intermediaries throughout the UK found that one out of every three advisers has failed to submit an application to the FSA to become a principal or to become an appointed representative or introducer with a network.

NGM director of marketing and business development Tony Yorke says: “The industry has failed to educate the mortgage introducer community, and there could be a heavy price to pay by all parties. The stark reality is that there is not enough time available to process the thousands of advisers who have yet to decide exactly where their future lies.”


Pension Edge: Ros Altmann

Unions are recommending that the government introduce compulsory pension saving for all employees. Such a policy change would make a bad situation even worse, prolonging the current system and postponing the required overhaul. Our pension system is not working properly, and just compelling people to put money into it will not make it work better. […]

Chilton on Mortgages

This is an extract from a consumers guide to regulation that we are working on. Just two thoughts for you to dwell on. First, do any of your customers know what to expect from you in the future? Second, have you actually changed your sales process to genuinely comply? October 31 will bring with it […]

Taskforce finds growing apathy on staff schemes

Employers are turning their backs on defined-contribution schemes because staff are no longer interested in them, warns Sir Peter Davis, chairman of the Employer Task Force on Pensions. The former Sainsbury&#39s chairman says there has been a profound change in attitude by employers on pensions which is structural rather than cyclical. The employer-led body has […]

Millfield and Inter-Alliance receive FSA approval for merger

Millfield Group has today received final approval from the FSA for its merger with Inter-Alliance. As set out in the offer document, Steven Hartley and Alan Curtis are resigning from the board and will leave the company today.


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