With the Financial Services Authority (FSA) stepping up its guidance and enforcement action over recent months, and this trend likely to continue into the foreseeable future, it is clear that adviser’s priorities will change.
Get the daily news delivered to your inbox
While some have already left the market following mortgage regulation in 2004, most have sought to comply with the guidance set by the regulator. However in an ever-changing market environment, keeping to all of the rules is, in some cases, proving harder to achieve and detracting from the aim of completing business – the adviser’s main job.
Because of this, it is expected that network membership levels will increase in the coming months, with most of the major networks expecting to recruit new appointed representatives within the next six to 12 months.
Because of this influx, networks are currently gearing themselves up, during the relatively quiet Summer period, for increased activity during the Autumn, increasing their incentives and product offerings to appeal to brokers looking at the network route. Guidance and Financial Promotions aids will be essential for advisers looking to cement their place within the market and brokers will be looking at networks who can deliver on these elements.
