Former Paymentshield boss takes role at 3XD

Rick Riding has joined fellow ex-Paymentshield directors at 3XD, where he has been appointed non-executive chairman.

Riding, who was founder, director and chairman of Paymentshield, left the company in 2004 following a management buyout.

Since then, a number of brokers have voiced concern about Payment-shield’s adjustment to its trail commission proposition.

3XD was established by David Full-uck and Riding’s sons, Michael and Gareth.

It claims to guarantee brokers trail commission regardless of whether they retire or change career.

Brian Melling, mortgage broker at Mortgage2Move, says: “This appointment will attract brokers. We’ve been having problems with commission from Paymentshield for years.”