Proposed Mortgage Broker Code of Conduct

kenshaz

Martin ,some of these posts are going totally off theme ,this is a very serious thread ,a lot of soul searching has gone on ,and now it appears to be trivialized.

EdInvestor

As I said, MM this is just a general comment, it clearly isn't aimed at DH and his complaint is spurious.

I personally think investors should avoid *all* commissions to advisors - the advisor needs to get paid for the work he has done, so ultimately he will get his money either from trail commission or by upfront payment. It makes no difference either way in the sense that the advisor is not doing anything out of the goodness of his heart - he needs to earn a living. So if commission is not paid, and instead the client pays an explicit fee, not only does it not cost the client any more money (as at the end of the day the advisor always gets paid whether the payment is upfront and visible, or behind-the-scens in the form of commission), but he should get a better service which is not influenced by slimey advisers ripping their clients off by selling them products designed to pay them the most money.

I do hope brokers don't take to reporting this kind of thing to the MSE Abuse team - and that if they do, that such reports are given short shrift.

dunstonh

Of course it's not surprising that DH is a bit irritated as he is being subjected on the thread to a detailed challenge on IFA charges, compared with those by execution only brokers, by the well-informed poster Whambamboo.

The challenge uses incorrect information and is not from a knowledgeable background. The fact he is attacking advisers for taking no initial commission and only 0.1% fund based trail shows this. Plus its clear from other posts he has made that he is anti financial services and appears to be on a bit of a crusade. I have no problem with that at all. Indeed, that is exactly the sort of thing I believe Martin is referring to with the right to have that opinion. However, it is the tone of the responses. "slimy adviser" whilst in discussion with an adviser on the issues is rude, aggressive and ignorant.

I havent reported, I have no intention of reporting. However, this is the sort of comment we often get, sometimes in general, sometimes aimed directly at us. When you spend time adding to the debate and answering questions, that sort of attack is out of order. Just a decent level of courtesy would be nice.

Martin ,some of these posts are going totally off theme ,this is a very serious thread ,I lot of soul searching has gone on ,and now it appears to be trivialized.

Kenshaz, you are the master of the off topic posts. Your sole reason for being here seems to be confined to posting attacks at the few of the mortgage brokers to in the attempt to provoke a reaction and promote L&C at every single opportunity. Even when it has nothing to do with the thread. You are the reason that this issue came to a head and required Martin to deal with it.

It is a shame as you often have some very good posts but you spoil it for others with your abusive behaviour.

The advisers of the board are being asked to be more tolerant of those that have an anti financial services view, which you clearly do. However, that doesnt mean it should be taken as a green light to be abusive towards the brokers and advisers.

AndrewSmith

The code of conduct is, in my humble opinion, long overdue and much needed.

I welcome it and see it as the first step in moving the forums forward and in line with the original intention and ethos of providing an environment for issues to be openly discussed and ideas shared.

Of late there has been a definate 'us and them' situation on the boards. Some caused by possibly mis-understanding by posters, some casued by a perception of elitest attitude by some brokers.

the code of conduct has laid down the guidelines for all to follow and give clear indication of the way forward. It does, however, need to be monitored and tolerance needs to be given on both sides of the argument. One person's opinion is not necessarily right or wrong just because it conflicts with the ideas or views of another. After all what makes us individuals is the ability to draw our own conclusions and apply what we think is best to our own situations.

I think also that a lot of the problems have stemmed from the unwillingnes of some to accept the points of view of others. Maybe that is because those people passionately believe in what they feel is right, nothing wrong with that, just need to take on board and understand other peoples viewpoints and respct them as an opinion to which everyone is entitled whether it is agreed with or not.

All posters should be extended the courtesy of being allowed to freely post their points of view as long as it is relevant to the thread and adds genuine value or assistance.

The 'us and them' environment is so un-necessary as, after all, regardless of one's occupation, we are all consumers and I would suspect have benefitted from other areas of the forums apart from those in which an individual may have professional exprience.

I want to personally thank Payless for his level headed and reasoned viewpoint as he has, far more eloquently than I am able, summed up and put forward exactly the thoughts of myself and I am sure others on the forum.

Payless I also understand haviing read your previous posts how involved you were and still are regarding the mortgage forum and, without any admittance of rule breaking, offer up my apologies if my own behaviour has in any way demeaned the Mortgage forum or detracted from it's value. I now appreciate what the forum means to you and assure you of my future adherance to the new code of conduct, not that i am aware of having broken any of the forum rules anyway.

Let's hope this draws a line under the recent unpleasantness and can now allow us all to get back to what the forum is here for, helping people save money.

Andy

kenshaz

I do not feel that it is appropriate for individual posters to comment on the operations of the moderators or how they function,either on impending decisions or potential.

kenshaz

Andrew Smith I feel that your sentiments are true and accurate,I do not mean to be patronizing but you ticked each box ,and yes Payless also has my respect.

AndrewSmith

kenshaz wrote:

Andrew Smith I feel that your sentiments are true and accurate,I do not mean to be patronizing but you ticked each box ,and yes Payless also has my respect.

Ulness you are intimating, which I don't believe you are as it would be totally inaccurate, that I am guilty of all the above then i don't find your reply patronising at all.

kenshaz

Payless I also understand having read your previous posts how involved you were and still are regarding the mortgage forum and, without any admittance of rule breaking, offer up my apologies if my own behaviour has in any way demeaned the Mortgage forum or detracted from it's value. I now appreciate what the forum means to you and assure you of my future adherence to the new code of conduct, not that i am aware of having broken any of the forum rules anyway.

Andrew I also feel that perhaps I detracted or demeaned the value of the mortgage forum for my own ends,I believe and still do that this forum should be profit free,and I did not recognise the value Payless attributed to the forum.
I feel that others should follow your example and mine.

herbiesjp

kenshaz wrote:

Payless I also understand having read your previous posts how involved you were and still are regarding the mortgage forum and, without any admittance of rule breaking, offer up my apologies if my own behaviour has in any way demeaned the Mortgage forum or detracted from it's value. I now appreciate what the forum means to you and assure you of my future adherence to the new code of conduct, not that i am aware of having broken any of the forum rules anyway.

Andrew I also feel that perhaps I detracted or demeaned the value of the mortgage forum for my own ends,I believe and still do that this forum should be profit free,and I did not recognise the value Payless attributed to the forum.
I feel that others should follow your example and mine.

Can we now have a group hug :j

AndrewSmith

:grouphug: :kisses: @ Herbiesjp