AMI’s warning that minor credit blips could lead to brokers not gaining approval signals one more way the intermediary market is being diminished.
Having just been through the worst recession in my lifetime I have to ask – why should brokers be treated differently from any other industry with regard to their personal finances?
Would we stop a dentist from treating patients because he doesn’t brush his teeth twice a day? Or to bring it back to the case in hand, why should brokers be financially better off in these difficult times than anyone else, especially if they are self-employed?
And how is this ill-considered proposal going to affect those poor network members who have had their commissions withheld by failing firms and as a result have struggled to meet their financial commitments through no fault of their own?