Dear All I'm looking for a bit of advice on Independent Mortgage Brokers. Apparently their commission varies depending on the mortgage finance company they deal with. When I took out my first mortgage about 10 yrs ago with an independent financial adviser, the advice I got was somewhat less than impartial ...
I'm currently talking to a local company Ardent Financial Services,
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, who seem pretty good but what should I be looking for and what questions should I ask? Cheers,
In message , snipped-for-privacy@inkerjowe.com writes
Are they truly INDEPENDENT?
That means do they offer advice and provide products from the whole of market? And do they offer their clients the ability to choose between the adviser receiving a commission OR paying a fee and the adviser receiving NO commission or paying it back to you.
The site you quote does not comply with the advertising requirements of the Financial Services Act in so far as they do state their Authorisation (as far as I can see)
They also claim to be 'independent' but part of their site implies that they are part of, or a representative of, 'Openwork Ltd' whose site clearly states, by implication, that they are NOT Independent with the words "We are a stand-alone, multi-tied, directly authorised distribution network" and only "offers insurance and investment advice on products from a limited number of product providers and advice on mortgages representative of the whole market.".
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