Property services firm Kinleigh Folkard & Hayward (KFH) is to become an appointed representative (AR) of Legal & General’s (L&G) regulatory proposition early next year.
John Cupis, sales and marketing director at L&G Mortgage Club, said: “I can confirm it will link very closely with L&G’s proposition under regulation – our proposition will become clearer in the next few weeks.”
As a precursor to this KFH has developed a proposition for mortgage advisers to assist with forthcoming regulatory requirements with the launch of Accordia Financial Services. This is a ‘management hub’ designed to offer support in terms of administration, professional indemnity cover, compliance systems and procedures.
Michael Dollery, director of business partners at Accordia, said: “One of the fundamental issues for the mortgage industry is to ensure that the consumer feels they are receiving an honest and professional service. The service will help to reduce the amount of mortgage brokers’ time spent on administration and therefore will provide an improved service to the client.”
Brokers who sign up to the deal will sign a contract which will be subject to one month’s notice on either side and will have to place their life business through Accordia.
l Solicitors, Addleshaw Goddard has also launched a regulatory tool, RegAssist, which offers help with applications for FSA authorisation, advice on rules and practical guidance on compliance.