HOF’s licensee proposition was initially marketed as a Principal firm but it is believed the company will in fact be an appointed representative (AR) of either packager Route2 Solutions or Optoma.
The company has been criticised for sending out mixed signals as to their exact place in the broker market.
Upon the launch Jason Gardner, managing director of HOF, said: “Ultimately we want licensees to be able to concentrate on client service and new business but at the same time be comforted by the fact that, as their Principal, we will provide full marketing and compliance support.”
Gardner confessed that it was HOF’s original plan to be the Principal but decided that the AR route was the best way for it to deal with the FSA compliance issue. He said: “We have chosen the AR route to reduce our workload and give us a stronger financial base in which to concentrate on raising brand awareness. We will be announcing our Principal over the next few weeks.”
Richard Griffiths, managing director of Network Data, said: “HOF needs to provide clarity as to exactly what the firm is providing in the market. Is it a Principal or not? Brokers need to know the truth.”
Peter Brodnicki, chief executive of the Mortgage Advice Bureau, said: “HOF needs to be clear in their stance. Its proposition to brokers needs transparency not confusion.”
