Magnificent sober SPF seven commit to dry quarter for cancer and children’s charities
Led by CEO Mark Harris, the other advisers who have been sober since the 1 January for charity include Marcus Hodges, Cristian Hintzpeter, Wendy Docherty, Nancy Maher-Brill, Holly Budd and Simon Dexter.
The two charities include Macmillan cancer support and the Princess Alexandra children’s hospital in Harlow.
The seven participants have signed up to a significant penalty scheme of £1,000 to each charity, or £5,000 for Mark Harris, if anyone tumbles off the wagon before 1 April.
Mark Harris, CEO at SPF Private Clients said: “If you’re ever going to do it, it’s now or never isn’t it?”
adding that he had total faith in the team’s honesty over lapses.
“Non-alcoholic gin and tonic and 0 pe rcent lager have been keeping the teams going so far although it’s been mint tea for me. But if you can’t trust a mortgage broker, who can you trust?”
To show support and boost the fundraising drive please donate to either of the charities via JustGiving.com here for Macmillan Cancer Support or here for the Princess Alexandra children’s hospital.
Network JLM introduces online consumer fact find and web chat
The Virtual Adviser service – offered on the homepage of its website at www.jlmmortgages.co.uk – can be marketed as a ‘robo-advice’ proposition to consumers ready to engage with an online adviser.
With no registration page, consumers looking for residential or buy-to-let mortgage advice input fact find details in a web chat style format and after a few questions are shown some products they are eligible for. Customers are encouraged to continue by web chat or speak to an adviser at this point.
Users can have a mortgage illustration in their inbox in five minutes by completing the simple, three-stage process that filters down to more specific details to refine the product list.
At the end of this part of the process, the client can then either choose to stay online with the Virtual Adviser, providing further details in order to secure a more specific quotation, or they can choose to speak to a JLM adviser directly through live chat or by phone.
JLM has 45 advisers across mortgage, protection and wealth specialisms in seven Appointed Representative (AR) firms.
Rory Joseph, director of JLM Mortgage Services, (pictured right) said: “We believe the launch of Virtual Adviser is a first in the mortgage network market and sets the bar incredibly high for robo advice propositions. The team at JLM have been working on this launch for some time as part of enhancing our customer-facing proposition, and it’s thrilling to be able to present this to market.
He added the service is another string to its bow in providing an all-encompassing service to customers and is about ‘helping advisers access clients in a variety of ways.’
“We’ve developed Virtual Adviser as a simple, easy to use proposition that allows customers to begin the mortgage process on their terms at their own convenience, be that simply comparing initial mortgage product details or producing a full mortgage illustration.”
Sebastian Murphy, head of mortgage finance at JLM Mortgage Services, (pictured left) said: “We believe established advisers have a competitive advantage in terms of their experience and their understanding of client’s often complex wants and needs. However, thinking of our own ‘purchasing’ experience, we know that the convenience of (at the very least) starting the process online can be very appealing to large numbers of clients.”
This is a non-negotiable part of the complete adviser package, added Murphy.
“This launch is not the end of our work in this area; JLM will be enhancing the system and will continue to develop the proposition to ensure it is fit for purpose and can work for both our advisers and their customers,” he said.
This follows London and Country’s automated online advice service launch before Christmas.
Hargreaves Lansdown clone firm targeting customers
The regulator said the rogue firm is contacting clients with fake email and telephone contact details, but citing the firm’s genuine Bristol address.
It said Hargreaves Lansdown would never call clients out of the blue to try and convince [them] to invest or buy a product.
“If you are in any doubt, please hang up on the caller and call Hargreaves Lansdown back on 0117 900 9000,” it added.
The telephone numbers the firm is using are: 0117 318 2655, 0117 205 0132 with these email addresses also being used email@example.com, firstname.lastname@example.org, email@example.com.
Anyone can search the Register for information on a firm, individual or financial services product by entering its name, reference number (FRN) or postcode. The regulator also lists known scam firms with a prominent warning here.
This FCA authorised firm that fraudsters are claiming to work for has no association with the ‘clone firm’. It is authorised to offer, promote or sell services or product in the UK and its correct details are:
Hargreaves Lansdown Asset Management Limited (FRN: 115248)
Hargreaves Lansdown Advisory Services Limited (FRN: 189627)
Hargreaves Lansdown Stockbrokers Limited (FRN: 149970)
Hargreaves Lansdown Fund Managers Limited (FRN: 166016)
College Square South, Anchor Road, Bristol, BS1 5HL
Telephone: 0117 900 9000
If a firm does not appear on the Register but claims it does, contact the FCA consumer helpline on 0800 111 6768.
If you think your authorised firm has been cloned or scammers are fraudulently using your name or other details, contact the FCA’s firm helpline on 0300 500 0597.
14% of Britain’s wealth is inside our homes
The findings that Brits are keeping ‘significant amounts of wealth’ in the contents their family home is an opportunity for brokers to help clients understand the importance of insuring their most valued contents and possessions, Legal & General said.
While over half (56%) of people aged 18 to 59 had both building and home contents insurance, 13% did not have either of these cover options, with a further 12% having contents insurance only and 3% solely using buildings insurance.
Compared to the amount of wealth stored at home, Brits also keep 60% of household wealth locked in their property’s equity and 22% stored as financial wealth.
Older households were more likely to have more assets stored in their home, with 10% of people aged 60 to 74 holding contents worth more than £75,000. In contrast, those aged 17 to 29 had the lowest-value home contents on average, with 73% of the demographic with household contents worth less than £20,000.
The value of home contents was lowest among individuals who rented a property. Some 20% of people renting have home contents worth less than £5,000, compared to 37% of homeowners who had home contents valued at between £40,000 and £74,999.
Kevin Roberts, broker director at Legal & General, said: “Brits are keeping significant amounts of wealth within the home and this trend looks set to continue in future. There are opportunities for brokers to help clients understand the precise value of their contents and possessions and indeed to protect those assets.
“With older people increasingly comfortable and engaged with the internet, brokers can’t assume that the role of face-to-face advice is sacrosanct among this group of people. However, it’s likely that brokers will be able to add significant value to this marketplace and should focus their efforts accordingly,” he added.