View more on these topics

RBS in multi-brand move

Firm admits proposition not working and aims to mimic HBoS version after stiff criticism from brokers.

Royal Bank of Scotland is set to overhaul its current brand strategy for intermediaries 15 months after it relaunched following criticism from brokers.

Head of intermediaries Chris Pearson admits its proposition is not working and Money Marketing understands that RBS will mimic Halifax Bank of Scotland’s multi-brand strategy, with separate business development managers for each brand.

The multi-brand strategy will see Natwest focus on specialist lending, One Account focusing on offset and First Active selling mainstream mortgages. MM has also learnt that RBS’s Intermediary Partners arm will look to push its One Account brand in the broker market as a rival to HBOS’s Intelligent Finance brand.

One broker says RBSIP will create a “mini-me” version of HBOS in an attempt to recreate its rival’s success.

Pearson, who started in his new position on May 1 after joining from BM Solutions, says: “I was brought in to look at the proposition and make changes. We do need to do something to make our brands more understandable and make them much more transparent.”

The structural changes are expected to be announced next week but RBS was not able to comment further.

John Charcol senior tech-nical director Ray Boulger says changes to RBSIP are needed.

He says: “Their last restructure did not go down very well with brokers. Through Natwest, they offered direct products more cheaply than the products they offered through the broker channel and they were able to do this without being open about it.”

In June last year, former Hampton International Mortgages managing director Kevin Duffy said RBS needed to raise its game to catch its competitors despite its four-pronged intermediary relaunch in February.


What next for BTL?

Buy to let has surged in the last decade but rising interest rates and inflation could be putting the squeeze on landlords. Samantha Downes gauges opinion on whether the market’s success will continue.

Rowanmoor in SSAS move on property

SSAS provider Rowanmoor will retain in-specie contributions for its SSAS and family pension trust for property where a recent independent valuation has been obtained.

Directors, limited liability partners and auto-enrolment

By Jim Grant, Senior Product Insight & Technical Support Analyst 6 April 2016 brought in changes to employer duties for directors and partners in limited liability partnerships. Here we explain exactly what’s changed. Before 6 April 2016… Directors of limited liability companies where there were no other directors or employees were exempt from the employer […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm