Dev Malle, director of mortgage distribution for Personal Touch Financial Services, confirmed the move, due in the next few months, was part of the company’s growth strategy.
He said: “Most of our business from the mortgage side comes from our appointed representative model. We are trying to find a way to open the door to DAs and add value to their business. There are a few critical aspects that won’t be included, such as personal indemnity (PI) insurance or liability, which are part of the AR contract. But why shouldn’t DAs have access to free sourcing and client management systems, good rates and basic compliance, which will save them money?”
However, Thomas Reeh, chief executive of blackandwhite.co.uk, felt the move would only appeal to a minority of DAs. “To have a successful relationship with a broker you have to have a partnership with them. You can’t do business with them at arms’ length, as they need people they can call and discuss cases with. Plus, I don’t know how it could get away with not having PI cover. That is an important aspect, which is usually a given.”
Mark Allison, managing director for Personal Touch, also added it was ‘aggressively’ pursuing an acquisition strategy and was in talks with several firms.
