Your June ’25 update from AMI Chief Executive Stephanie Charman

The recent AMI annual dinner was my first as AMI’s Chief Executive, and I must admit—I was truly overwhelmed, and deeply honoured, to be part of such a meaningful and memorable evening.

From heartfelt speeches to lively conversations, and a brilliant performance by Flo & Joan (yes, including a bespoke song about the mortgage intermediary community!), the atmosphere was a fantastic reminder of the strength and spirit within our sector. Together, we also raised an incredible £2,525.62 for our chosen charity partner, Making the Leap, whose mission to empower less advantaged young people was brought to life by the moving words of Sarah Biria and Trustee Dom Scott. You can donate to the charity at any time

In my speech, I shared reflections on my first four months in the role and raised AMI’s concerns around the FCA’s Mortgage Rule Review, particularly the risk that a move toward execution-only sales could erode essential consumer protection and diminish the role of advisers, at a time when their expertise is more critical than ever. AMI Chair Andrew Montlake echoed this sentiment, reinforcing the collective industry voice.

The evening also paid tribute to two individuals whose contributions to AMI and the wider industry have been truly exceptional. Congratulations to Ray Boulger and Martin Reynolds, both awarded Fellowship of AMI for their years of service and leadership.

AMI has formally submitted its response to the FCA’s Mortgage Rule Review Consultation Paper CP25/11. In our response, we have raised key concerns about the potential shift towards execution-only mortgage sales, highlighting the risk of diminishing consumer protection and the vital role that advisers play in helping people navigate increasingly complex financial decisions. We will continue to advocate for a regulatory framework that balances innovation with the need for accessible, high-quality advice – and ensures that the value of mortgage advice is both protected and recognised.

Turning focus to the Pure Protection Market Study, the FCA has now issued a Request for Information (RFI) to a select number of firms operating in the pure protection space. We are actively engaging with the regulator on the timeline and next steps for this work and will keep firms informed as the process progresses.

We’re excited to confirm that AMI’s Protection Viewpoint report will return for its sixth year, launching on Wednesday the 5th of November 2025. This consumer and adviser research will once again provide deep insight into the protection landscape.

This year, we are pleased to welcome The Exeter as a new sponsor, joining L&G and Royal London.

Protection Viewpoint 2025 will focus on consumer behaviour across three key areas:

The Past – celebrating progress while identifying areas for continued improvement.
The Present – exploring how the current economic climate is shaping consumer attitudes toward protection.
The Future – examining the influence of social media, AI, and emerging technologies on the market.

Adviser insights will also be gathered via a dedicated survey going live later this summer – your views will be crucial in shaping the narrative, so watch out for further information in due course.

Lastly, the team is currently reviewing the FCA’s latest discussion paper on the future of the mortgage market. This marks the next phase in the FCA’s broader work and explores whether changes to the market framework could better support sustainable home ownership and drive economic growth.

We are concerned that this discussion paper appears to be progressing on a separate timeline from the FCA’s recent Mortgage Rule Review consultation, the outcome of which is not expected until Q3. In our view, it is essential that the proposals are aligned to avoid unintended consequences and to deliver meaningful change.

AMI will continue to champion the vital role of intermediaries in delivering good consumer outcomes and supporting the broader objectives of both the FCA and the government.

Over the coming weeks, we will be working closely with key stakeholders and engaging with our members to gather feedback and help shape our formal response. Your insight is invaluable — keep an eye out for opportunities to contribute and for further updates.