Is my mortgage broker dodgy?

dunstonh

Imagine your Doctor was entirley remunerated as a result of selling potions and lotions. How do you think this would alter the quality of the advice.

Some of their income does come from that.

Your issues conrad seem to be more against salesforces than commission advisers. Something that I was reminded of recently in the investments forum when I was being critical of old model advisers.

Salesforces are responsible for most of the bad things that have occured in financial services for many years. Not the remuneration method.

toonfish

Conrad wrote:

This is very wide of the mark folks.

Look I spent years as regional director at Countrywide Assured. That firm is exactly like all the other life assurance focused mortgage salesforces.

Its all about life commision production, to deny this is deny the grass is green.

Go to any mortgage sales conferance run by any of these organisations and you will see a great deal of time is spent on 'rewarding' those who sell the most insurance. You will see a culture completely focused on this objective.

Note how all the large networks display thier protection commissions as 'unique sale points' to entice more members.

Commision Crows, the lot.

Commision and advice dont mix.

Imagine your Doctor was entirley remunerated as a result of selling potions and lotions. How do you think this would alter the quality of the advice.

Cmon guys get real please

still no signature, you overcharging parasite?

payless

Conrad wrote:

This is very wide of the mark folks.

Look I spent years as regional director at Countrywide Assured. That firm is exactly like all the other life assurance focused mortgage salesforces.

Why did you stay so long ?

Rick62

Yes, Countrywide I suspect might be like that - so the fact that you spent years there says more about you Conrad than your uninformed unsupported ramblings.

payless

That firm is exactly like all the other life assurance focused mortgage salesforces.

although being able to advise on life cover you don't have to be "life assurance focused"

Most of my mortgage clients don't take life cover from me.

dunstonh

Not to be confused with Countrywide Independent Advisers (now part of Sesame) who had an excellent reputation. There were/are too many firms out there with Countrywide in their name.

payless

dunstonh wrote:

Not to be confused with Countrywide Independent Advisers (now part of Sesame) who had an excellent reputation.

would that be the same CIA who were fined £250K by the regulators in 1998

toonfish

Countrywide Assured - aren't they the folk offering protection "exclusives" with Friends Provident?

They're exclusive alright, 25% more expensive than if you arranged them somewhere else!

AndyWallace

MortgageMamma wrote:

Andy I really do not see what your point is when objecting to my earlier comments.

Twinkle wrote:

I told him that he made me feel very intimidated when he came round last friday. He was fully apologetic and said he didn't intend to make me feel like that.

MortgageMamma wrote:

The fact he's tried to intimidate a client speaks volumes about him on a personal level and someone who behaves in such a manner is truly unprofessional.

My point is that we don't know for sure what the full circumstances were. You may be misinterpreting things said.

I'm not having a go at you, I just feel that you are not best placed to make these types of statements.

Now simmer down.

Andy.

dunstonh

payless wrote:

would that be the same CIA who were fined £250K by the regulators in 1998

Tell me a large firm that hasnt been fined by the regulator. At that time, the PIA must have wanted their building decorated or to pay for more staff nights out as they were dishing fines out to loads that year.