Which? last week revealed that in its new brokerage operation proc fees will not be taken by advisers but instead donated to campaigning work for Which?
But it seems to be insinuating that advisers who do not work for Which? make recommendations based on the amount of potential commission earned. That is certainly not the case and never has been for the majority of advisers.
Which? needs to step down from its ivory tower and apologise for making such sweeping remarks.
Even for advisers who would potentially arrange business based on commission earned, as lenders pay almost the same amount of commission, I cannot see where this argument is coming from.
This is a new venture for Which? and it is already saying that it can offer customers access to someone they can trust, which insinuates that all advisers who have been doing this job for years do not know what they are doing, or can’t be trusted.
For Which? to provide mortgage advice goes against what it stands for and creates a conflict of interest between the consumer group business and making enough money to pay advisers.
I used to be a great supporter of Which? but my feelings have changed now.
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