Your November update from AMI Chief Executive Robert Sinclair

AMI Chief Executive Robert Sinclair gives his November update, including AMI’s Protection Viewpoint, market conditions and future challenges for advisers…

Making the most of AMI Protection Viewpoint findings

AMI’s 2023 Protection Viewpoint report ‘The Perception Gap’ is packed full of findings and insight aimed at mortgage intermediaries…

Consumer Duty – an update

Key Consumer Duty developments and recent communications issued by both AMI and the FCA, with commentary on implications for mortgage intermediary firms…

AR regime – updated AMI Q&A and deadline reminder

Having heard back from the FCA, we have updated AMI’s Q&A documenton the AR regime. We also wanted to remind firms of the upcoming 30 November 2023 deadline…

FCA application window open for firms approving promotions for unauthorised persons

Firms that approve financial promotions for unauthorised persons have until 6th February 2024 to apply for approver permission from the FCA…

FSCS levy and compensation figures update

The FSCS has released an update on its levy and compensation figures for 2023/24, as well as anticipated levy figures for 2024/25…

Edit Content

Log in here for full access to all our great content


Please log in below with your username (which is your email address), using all lower-case letters.


Forgotten your password?
No problem, simply tell us you have forgotten your password to receive instructions instantly via email.

Having problems logging in?
If you are a current member but are unable to login, please first make sure you are using all lower-case letters for your username/email address. If you still have difficulties, please contact us via email at so we can rectify your problem.

Not a member?
Learn more about the benefits of becoming a member or apply online and we will be in touch.

The government has recently announced two changes to advice as part of the Financial Advice Market Review. While these will predominantly affect the investments and pensions arena, they should positively impact the conversations that mortgage advisers can have with their customers.

The first change is the narrowing of the definition of investment advice for regulated firms next year. It will instead be based on the MiFID definition of a personal recommendation. The aim is to reduce the risk of firms straying into providing regulated advice without the correct permission. It will mean that mortgage intermediaries should be able to have wider conversations with customers on other financial products and services without needing to hold the permission to advise on investments (as long as personal recommendations are not made).

The second is the introduction of a pensions advice allowance. From April individuals of any age will be able to withdraw a tax-free payment of up to £500 from a pension pot to pay for pensions or retirement advice. The government has clarified that retirement advice includes a consideration of other factors, including other assets, which are relevant to an individual’s retirement planning. It will therefore cover advice on supplementing an individual’s retirement income by releasing equity from their home. It will be helpful for advisers to be aware of this allowance, again as part of any wider discussions with customers.

Aileen Lees
Senior Policy Adviser
March 2017


Forgot Password?

Join Us