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‘Highest level of choice’ for consumers will include execution-only, says mortgage broker MAB

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  • 21/05/2019
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‘Highest level of choice’ for consumers will include execution-only, says mortgage broker MAB
Mortgage Advice Bureau said the regulator’s determination to lower barriers to execution-only mortgage sales means it will offer this route through its adviser channel despite its continuing commitment to advice.

 

It added in its Annual General Meeting statement out today that it believes in the ‘appropriateness of advice’ for the vast majority of customers but that given the Financial Conduct Authority’s (FCA’s) clear intent on execution-only supported by digital innovation it becomes an obvious choice.

The statement to be delivered by MAB non-executive chairman, Katherine Innes Ker this afternoon said: “Our plans have always been to offer all the choices that customers would ever want, including execution-only, and our technology solutions are being developed to facilitate the highest level of choice.”

It added: “Our commitment to customer advice is to simplify the process significantly and deliver advice however customers choose, to ensure advice is the natural and obvious choice for all customers, and for all transaction types regardless of the level of complexity.”

 

Growth figures

The first adviser firm to float on the stock market reported adviser numbers grew to 1,272 to mid-May, a five per cent annual increase, with more in the pipeline.

It cautioned however that appointed representatives (ARs) with direct links to the estate agency sector ‘continue to pause expansion plans and delay filling vacancies as a result of reduced confidence’ largely due to political uncertainty.

However, it said the majority of its ARs have strong growth plans for 2019 and 2020.

“But against the backdrop of continuing uncertainty we have seen housing transactions taking longer to complete in this financial year to date, impacting the timing of our banked revenue,” it said.

“We believe MAB is ideally positioned to continue increasing its market share, and to focus on wider group success and profitability through new opportunities and broadening our addressable market.”

Mortgage Advice Bureau holds it annual adviser conference tomorrow at The Curve, a theatre in Leicester city centre.

 

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