m2i provides the complete support package for intermediaries who wish to remain independent, and be directly authorised through the FSA.
Sean Hornsby, Managing Director, said "More and more of the recent research is showing a swing away from the AR route, with an increase in firms opting for direct authorisation. Unfortunately far too many firms will still make the wrong decision thinking Appointed Representative status is cheaper and easier. We have put together a comprehensive package which supports those firms choosing direct authorisation, and at present it simply cannot be matched. A number of features are totally unique to m2i, so even if other traditional networks wanted to offer the same benefits, they simply couldn't."
Intermediaries joining the m2i network can save over £600 as both the MCCB registration fee for the sixth month renewal period from May 1st - October 31st 2004, and the initial application fee for direct authorisation with the FSA, is included within the m2i membership fee.
Key features of m2i include:
Intermediaries will have access to the compliance support and advice of the team, headed by compliance director, David Payne, former operations director of the Mortgage Code Compliance Board (MCCB). Benefits include managing intermediaries FSA application for authorisation, routine compliance checks and visits, helping with the Approved Persons Regime, plus ongoing training and competence.
m2i utilises the Mortgage 2000 "Encore" sourcing system, which incorporates the Mortgage Trading Exchange (MTE), as well as "Adviser Office" from 1st Software. The two systems have been combined to provide a complete client database management system, a compliant sales process, audit trails, and pre-population of data, which means information is keyed only once. Both systems are provided within the membership package.
While directly authorised firms automatically have freedom of choice within the market, m2i members will also be able to utilise the m2-mortgage club, one of the largest lender panels in the country with over 50 lenders, providing exclusive products, enhanced procuration fees, and electronic trading facilities. In addition 20 lenders are accessible through Mortgage 2000 Design and Processing (m2-d&p), one of the top packagers within the country, and applications can be submitted electronically from the "Encore System"
This recently launched state of the art technology is exclusively available to m2i members. This online system guides you through lender specific criteria, enabling intermediaries to 'process' client cases up to offer stage and on average will produce additional revenue in excess of £250 per case, for intermediaries who use the system
Each m2i firm can receive a white labelled version of the UK's top personal finance website, moneysupermarket.com, which has over 20 finance channels including secured and unsecured loans, credit cards, various forms of insurance, and even utilities. The members' version of the site will be fully branded with individual company logo's and contact details, and commission will be paid on transactions placed through the site.
m2i members will also be entitled to receive free leads from the Professional Adviser Alliance. These leads are generated from the leading internet sites in the UK and research has shown that over a 2-3 month period, 44% of the leads result in an application.
Also included within the m2i package, is access to a range of general insurance partners, marketing and promotional support, ongoing training facilities, a loans panel,
conveyancing, life insurance providers, and commercial loans
Sean Hornsby added: "To date, this is the most comprehensive support services network in the market. m2i offers one complete package with unique services such as white labelled websites, soft packaging and free mortgage leads, plus it gives intermediaries the opportunity to remain independent. Already we have seen a positive demand from those who want to fiercely protect their independence. m2i is the ideal solution for these intermediaries, offering them a complete support package including compliance, but allowing them whole of market access and freedom of choice.."
The m2i membership fee is dependent on the number of advisers within a firm, but starts at just £199 per month.
To sign up, or to find out more information:
Email: [email protected] or call 01244 665 700.
