As the FSA tightens it’s grip around an increasingly turbulent market, the cost of living in the post-regulatory environment has become much greater. With regulatory requirements continuing to push up the financial cost of compliance, the burden on time can prove much less manageable. The UK-wide network, Mortgage Support Network, exists primarily to take ownership of that burden by minimising the cost, risk and time associated with running your own business in today’s marketplace.
Since 1996 MSN has evolved with one goal in mind; to ensure their member firms have more time to do what they do best. The infrastructure is built around real support, combined with a carefully picked team of industry experts that ensure things are done compliantly and in a way condusive to business growth. Above all, Mortgage Support Network values a strong sense of partnership. Its proposition is based not only on transparent charges and strong commissions, but also on the creation of business opportunity for its members.
With one flat, all-inclusive fee ensuring against any unpleasant surprises in the future, members are free to take advantage of the support structures in place. MSN’s knowledgeable and approachable compliance team help to minimise the risk in your business – and do so in a hassle-free way. Award-winning software helps to streamline processes and ensure best practice and newly implemented marketing support ensures member firms have access to a number of bespoke marketing resources, including white-label websites and product marketing tools, all designed to help your business grow.
Over the coming months, Mortgage Support Network is poised not only to increase the number of AR firms within the network, but to further evolve its product offering and the level of service provided to members. Commenting on the recent re-brand of the group, new marketing manager, Tom Holt explained:
“The test of a brand is not what it says, but what it means. The new look at MSN is the visible element of real development within the group. Our goal is to ensure our communication is as simple and transparent as our product offering. MSN’s strength has long been the personal way we deal with our members and this remains core to our philosophy. The recent development has centred around increasing the number of tools we can offer our members to help them grow their business, while maintaining the levels of service quality for which we have become renowned. Both staff and member firms have played a significant role in development of systems to further improve service flow and we are certain our members will derive huge benefit from this effort, at no additional cost”.
With the continued contraction of the appointed representative marketplace, a large number of ARs have been cast adrift, many being ‘crow-barred’ into decisions which may be less than prudent in the long run. No business likes being told what to do, but tie-in’s such as share options and renewal buyouts, as well as ensuring renewal commission protection, mean that many ARs feel they have little room to manoeuvre. The risk is, that those being forced into a decision now, may well find themselves in a similar situation in the near future.
Having watched this situation unfold, Mortgage Support Network have put together a transitional package for those businesses cast adrift by their Principals.
We understand AR frustration and realised that a short term solution was needed to help businesses overcome cash flow pressure, to speed authorisation and help new members hit the ground running. We also acknowledge the need for long term security, basing our proposition upon a model which is both profitable and sustainable in the long term’.
MSN have therefore implemented short and long-term transitional solutions;
• No AR charge for first 6 months
• AR application Fast-Track process
• Access to every UK lender
• Access to wide choice of life offices, offering IFA premium rates
• Provision of market-leading software solutions
• Compliance based on business protection, not business prevention
