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Making advertising material compliant is hitting smaller brokers hard

From Lee Martin

How is the industry getting on with advertising and marketing, especially small brokers like me who can’t pay design agencies to come up with brilliant, eye catching designs?

I am having to send everything I have to the compliance and financial promotions department at my network so it can review, suggest amendments and eventually approve it.

Everything I have sent it so far needs so many amendments and disclaimers that the message I am trying to promote is lost in regulatory rubbish. So here I am in shop-fronted premises with nice big windows in which to put posters of everything I want to promote but first I have to take all my existing stuff down, spend a fortune commissioning amendments to the designs, resubmit for review, wait a week, hopefully get approval, then spend more money having new posters printed. And all this so the Financial Services Authority can satisfy itself it is policing an industry that assumes every single potential client out there has no brain, cannot think for themselves and does not possess the ability to work out whether a broker is plastering lies all over its advertisements.

The way it’s going there will be no point in advertisements unless you are willing to write essays all over them, with disclaimer after disclaimer.

I wonder if selling ice cream is easier. I’ve seen a van for sale.


I caught Mortgage Trust nicking our cricket ad idea

From Wesley Budd We successfully ran a summer advertising campaign around the amazing game of cricket. This included headlines such as ‘Knocking the competition for six,’ and ‘Howzat for a self-cert mortgage?’ So imagine how delighted I was when I came across an advert in Mortgage Strategy for Mortgage Trust proclaiming: ‘Knock the competition for […]

B2L deals

Coventry is launching three buy-to-let mortgage products and changing its B2L policy to make it easier for introducers to access products.

60% Of brokers see costs jump due to FSA control

A full 60% of intermediaries have seen their costs increase by more than 10% due to regulation, research by the Intermediary Mortgage Lenders Association reveals. The research among the intermediaries that provide IMLA members with most of their mortgage business also shows 72% of intermediaries feel regulation has brought no benefits to customers. These findings […]

Income multiples are totally inappropriate nowadays

From Keith Butler I was stunned to read in Mortgage Strategy (September 12)somebody as respected in the industry as John Wriglesworth suggesting income multiples could be raised to 6 x income. Speaking as somebody who has been in the mortgage industry for nearly 30 years it seems ludicrous that here we are in the 21st […]

Choose life…

Sarah Scott  – Marketing Consultant, Royal London  This month sees the return of Renton, Sickboy, Begbie and Spud in the sequel to the film Trainspotting. Just over 20 years later, we return to see exactly how life treated the characters whose lifestyle was less than ideal back in 1996. Did they choose a job, choose […]


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