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Brokers fail to capture TCF data

Data management firm iiCon has warned that a large number of brokers still don’t have systems capable of meeting the regulator’s Treating Customers Fairly initiative. Even brokers who submit applications online will only store 50% of their client communications, with the rest being provided verballyor in email correspondence.

Ross McAdam, director of iiCon, says: “An average face-to-face consultation lasting two hours would typically require over 16 pages of typed text to record verbatim, and any subsequent phone queries would also need to be recorded.” The firm says systems that can offer 100% data capture at a minimal cost are now available.


Former Stroud & Swindon commercial director joins M2 Financial

Former Stroud & Swindon commercial director Paul Chafer is to join M2 Financial in May.Chafer will take up the position of commercial director at the financial advice firm just after the May bank holiday weekend of May 24 and May 25.The headquarters of M2 Financial are based in Nottingham and the firm provides independent advice […]

Recruitment to financial services down 22%, says CII

Results from a recent survey by the CII Group have found that recruitment levels are down in the financial services sector with 22% of employers saying UK candidates lacked the right qualifications.A further 16% could not find UK candidates with the right skills.CII is warning that the industry needs to take apprenticeships and graduate recruitment […]

Showing the value of home reversions

An important requirement of the Financial Services Authority’s MCOB rules is that brokers should consider with their clients the effects releasing equity may have on their estates when they die.

Teachers enters equity release sector

Teachers has entered the equity release market via a partnership with Key Retirement Solutions.The building society, which provides mortgages to people who work in the education sector, says the partnership works through client introduction.The arrangement will see all Teacher’s equity release business introduced to the specialist intermediary. Teachers says the agreement ensures members benefit from […]


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