Premier Mortgage Management has received its minded to approve letter from the FSA.
PMM provides an introducer service for mortgage leads to other advisors. An option which managing director Mark Mountney says is a viable alternative to direct regulation or the appointed representative route.
He says: “Both of the latter come at a cost. There is a zero cost in referring your clients to a reputable third party who is doing all the work and paying you, the adviser, for the privilege. The positives of being an introducer are many. The negatives of being a DR or AR are equally numerous. In many cases where mortgage volume is low and ancillary to the mainstream business, the decision should be a 'no brainer'.”