C2-financial is calling on the Financial Services Authority to look into why some networks restrict their appointed representatives to the packagers on their panels.The mortgage packager and branded lender has raised questions over the ability of the ARs of many networks to treat their customers fairly when they are forced to deal with only a limited number of packagers or, in some cases, to use a single appointed packager. Following his attendance at the Expo event in London, David Wylie, managing director at c2, says despite having the opportunity to discuss his company’s product offering with dozens of intermediaries and ARs of several major networks, he found many were unable to use them. He says: “I was extremely concerned to learn that despite the availability of products, many networks with whom we do not have a panel arrangement are forcing their ARs to use those packagers appointed to their network panels, thus prohibiting them gaining access to the c2 range.” Wylie says he has called on the FSA to look closely into the policies of networks with restrictive packaging panels. Robyn Gordon-Walker, spokesman for the FSA, says it is not up to the regulator to determine which packagers are on a network’s panel, and that it is up to the AR to decide which network is best for them and offers them the best service. The FSA will be publishing the results of its research into the relationship between networks and their ARs next month. Gordon-Walker says this has produced some interesting insights into how principals check their ARs are offering suitable advice.
- Top trends
- Top trends
Golds has been shortlisted for law firm of the year in the UK Legal Technology Awards.The competition, open to all UK law firms and the leading competition of its kind, is organised by Legal Business, publishers of The Legal 500, the independent guide to the UK profession.The shortlist is a group of heavyweight UK and […]
The Bradford & Bingley savings report reveals there is still no sign that the well documented 27bn per annum savings gap is closing. B&B say many are simply not saving at all and those that are saving are not saving enough. This, combined with the current deficiencies in state pension provision, means millions will be […]
First-time buyers are returning to the mortgage market after a period of enforced exile caused by the deadlock of high property values and lack of accessible mortgage products.Paul Hearnden, managing director of My Mortgage Direct, says: Over the past three months we have seen a 15% increase in enquiries from first time buyers. The stability […]
Sovereign Reversion has released its half-year results and highlighted that financial advisers need learn about home reversions.Sovereign says once regulation is introduced, financial advisers will need to have a full understanding of the benefits of home reversions in order to fulfil their obligation to give impartial advice.The results have shown that its rate of sales […]
After a flat year for European equities, in which the Artemis European Growth Fund outperformed, manager Philip Wolstencroft is (cautiously) optimistic about 2016.
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