Your October ’24 update from AMI Chief Executive Robert Sinclair

AMI Chief Executive Robert Sinclair gives his September update with his views on the recent Budget and gives a preview of upcoming AMI events…

1 week to go until the launch of the 2024 AMI Protection Viewpoint!

There’s now only one week to go until the launch of the 2024 AMI Protection Viewpoint: Making Protection Personal. Register now to find out the full results…

Protection Viewpoint 2024: Making Protection Personal – what can we expect?

With only two weeks to go until the launch of this year’s AMI Protection Viewpoint, we share some of the insights gained from this year’s surveys…

AMI’s Protection Viewpoint 2024 – only 4 weeks to go!

It’s only 4 weeks until the launch of the 5th Protection Viewpoint – Making Protection Personal – on 5th November. Register now for virtal live launch event…

Registration is now open for the Later Life Lending Summit

Registrations are open for the Later Life Lending Summit, which takes place on 19th November in Sheffield – brought to you by AMI and the Equity Release Council…

AMI’s Protection Viewpoint 2024 Live Launch – register now!

With just over a month to go until the live launch of this year’s Protection Viewpoint, we would like to say a big thank you – register for your place now…

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The FCA post-MMR thematic sets out a number of areas of concern.  All firms will need to read the full text and consider what changes they need to make to their sales processes, quality checking and also the training and procedures for their advisers.

In summary, some adviser struggled to understand how much information on options they can provide to consumers before they move into an advice conversation.  When in an advice conversation, specific product recommendations were provided without first establishing the customer’s needs and circumstances, including too much focus on the cost of the mortgage.

Not sufficient balance was given between the amount the customer has available (budget) versus the monthly payment options, versus the term of the loan.  There is no absolute – more a mix of consumer objectives.  Also concerns were expressed on how some advisers looked at likely future interest rates, and the impact of rises, particularly where they had shortened the term to use the full budget available

The FCA has indicated that firms need improved governance and oversight, particularly in networks, with a new focus required on the quality of advice, with gaps between what was seen on files and the actual conversations that had occurred.

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