Summary terms and conditions
- Network fees will be simply £15.00 per case
- No charge will be made for joining
- No percentage of commission is deducted
- No sliding scales dependent on volume
- No charge per adviser is made
- No lengthy or onerous tie ins: commitment is only to three months’ notice
Targeting a membership initially from CMLS’s existing key introducers, the Complete Network has been designed to be flexible enough to accommodate appointed representatives (AR), directly authorised (DA) and introducer-only members.
The network fees will be simply £15.00 per case. Based on a three adviser firm completing 10 cases a month, the monthly charge will be £150.00, which compares vary favourably with charges already announced by other mortgage networks. No charge will be made at all for joining; no percentage of commission is deducted; there are no sliding scales dependent on volume; and no charge per adviser is made. In particular, in line with its policy of maximum flexibility, the Complete Network has no lengthy or onerous tie ins: members are committed to only three months’ notice before they are free to leave.
Members will be provided free of charge with fully compliant mortgage sourcing software from The Home Buyer System, together with on-line training and competency support software. Compliance support will also include the Complete compliance team carrying out the required regulatory compliance reviews, such as approving members’ advertising under FSA rules. For potential members that are opting for DA status, the Complete Network offers a full gap analysis to help in reaching informed decisions, with any necessary compliance support being made available for an agreed budget.
The regulated sale of general insurance products by the Complete Network’s members can be undertaken using the Complete Network’s partnership with Lifelink Services Ltd, offering direct access to buildings and contents, life, critical illness and mortgage payment protection insurance. Use of this partnership is not, however, complulsory for members.
Network Director, Bill Warren, commented: “The Complete Network’s terms have been designed to be as simple and transparent as possible, as well as being highly competitive, to appeal to our target membership. We recognise that potential network members are wary of tying into long-term commitments. Trading under regulation is still an unknown quantity for adviser firms, and many may want to remain flexible. That’s why our notice period is minimal, as our aim is to create loyalty and retain membership through excellent, cost effective service – rather than onerous contractual obligations.”
Contact point for further information is: [email protected]
