This latest decision underlines AToM’s growth plans. AToM’s launch into lifetime mortgages is expected to offer opportunities for brokers who are not currently in that market.
Vic Jannels, managing director of the AToM Group, said: “We are well on our way with preparations for regulation, as most others should be. It is important to understand the fundamental changes that regulation will bring - both in terms of its opportunities and its threats.”
AToM distinguishes itself from others who have announced their intentions for Principal Status by reinforcing that potentially signing to a principal is not a decision that needs to be taken lightly. Despite comment to the contrary there is no need to be railroaded into a contract with a principal company just yet.
Jannels says: “The full terms of FSA regulation are not yet known and so I would recommend that whilst there is a need to understand the implications of regulation, there is no need to enter into potentially extreme contracts at this stage. You should understand your options and the likely business impact or benefits at this point. Organisations who take the route of Appointed Representatives will have a more informed choice of the principal organisations and their offering early next year.”
