12 minute read
Expert Advice
Dear Jacob
Having worked as a mortgage broker in a local company for the last few years, I would now like to set up my own business providing mortgage broking services. Would you recommend starting out as an Appointed Representative or proceeding straight to direct authorisation?
Aaron
Hi Aaron
Many new brokers choose to initially form their business as an Appointed Representative (AR), as this means their Principal Firm will take on the role of providing compliance oversight and support. Whilst your Principal Firm will require you to adhere to strict processes and rules, conversely, this will usually lead to less challenging requirements for you to complete yourself, such as obtaining Professional Indemnity Insurance (PII), submitting FCA reports, undertaking audits, etc. In return for their involvement and oversight however, your Principal Firm will usually charge relatively high ongoing fees.
If you instead choose to immediately pursue becoming Directly Authorised (DA), you will have complete authority over your own activities and compliance oversight, but it will be your own responsibility to ensure you are complying with the FCA regulations. You will therefore find that most DA firms require ongoing compliance support, meaning you need to consider this cost as well as other DA costs such as obtaining your own PII and paying your own FCA Fees, etc.
Finally, it is also important to note, that it is currently taking the FCA up to 12 months to process a mortgage broking DA application, at a cost of £2,500. In contrast it can take as little as 4 weeks with far lower initial fees, to become an AR.
At Richdale we specialise in supporting both new and established brokers on this journey, whether it be as their Principal Firm or by supporting them in becoming directly authorised, and providing all the necessary ongoing support thereafter.
JACOB BERNSTEIN
A member of the APCC, specialising in financial services compliance for: • Mortgage, Protection and General Insurance Intermediaries; • Lenders, Credit Brokers, Debt Counsellors and Debt Managers; • Alternative Investment Fund Managers; • E-Money, Payment Services, PISP, AISP and Grant-making Charities.
Contact:
020 7781 8019 info@www.richdale.co.uk www.richdale.co.uk
CHARITY
JEWISH CARE
Jewish Care is the largest health and social care organisation serving the Jewish community in London and the South East. Our vital services touch the lives of 10,000 people every week. We provide services and offer a wide range of support groups to older people, people with mental health needs, Holocaust survivors, people living with dementia, people with a variety of needs and carers support.
Contact:
020 8922 2222 helpline@jcare.org www.jewishcare.org
SHIPPING
STEPHEN MORRIS SHIPPING
With almost 40 years experience, our company has the ability to move household and personal effects and antiques and fine art with the professionalism and care that comes from that experience coupled with an attention to detail. We construct our own Tri-Wall and wooden packing cases on site and employ full-time art installers and handymen for those ‘extra’ jobs that always need doing on a move or installation. And size is no limitation – we have moved trains, boats and planes across the world and even bridges and a 5,000 seater tent!
Contact:
020 8832 2222 info@shipsms.co.uk www.shipsms.co.uk
BUTCHERS
KOSHER DELI
Kosher Deli was established with the intention of making kosher meat and poultry affordable for all with the convenience of multiple locations and a comprehensive delivery service. All this without compromising on kashrus or quality. Locations in: Golders Green, Hendon, Temple Fortune, Edgware, Borehamwood & Manchester
Contact:
020 8381 4450 info@kosherdeliuk.co.uk www.kosherdeli.co.uk
WEALTH MANAGMENT
MARC OVITS – BA (HONS) APFS CERT PFS (DM)
Over 25 years of successful experience in financial services including 11 years of investment banking experience. Offering expert independent financial advice to individuals, businesses, charities and trusts. Individual services:- Wealth Management, Investment, Retirement, Estate/IHT, protection planning, Tax Mitigation and Cash Management Solutions Business & Charity services:- Investment Planning, Business Succession & Business Exit Planning, Business Protection, Corporate Pensions, Employee Benefits, Cash Management Solutions, Profit extraction strategies
Alpha Wealth Management Contact:
020 8203 6920 info@alphawm.co.uk www.alphawm.co.uk
ESTATE AGENT
MARTIN FRYDENSON - ROUNDTREE REAL ESTATE
Roundtree Real Estate are your local experienced Estate Agent having been established on the High Street since 2009. We are both ARLA and NAEA Propertymark regulated and we are here to offer you expert advice in Property Sales, Lettings, Commercial and Full Management Services, covering Hendon, Golders Green, Finchley, Colindale and surrounding areas. We have built long standing relationships with all our clients and should you have any property related queries please do contact us.
Contact:
020 8203 2111 mail@theroundtree.com www.theroundtree.com
TELECOMMUNICATIONS
MARTIN HEIMAN – SMARTINET
We’ve been providing businesses with all of their communication needs since 2010. We specialise in supplying businesses with VoIP Packages, Mobile Plans, Broadband, Card Merchant Services, Leased Lines, On-Hold Marketing, and Call Centre Services. Smartinet, your reliable and efficient business communications provider.
Contact:
0333 613 0000 connect@smartinet.co.uk smartinet.co.uk
SOCIAL MEDIA EXPERT
SITEAWE
Social media is POWERFUL for businesses. But a community around your business with followers to do more than just follow is even MORE powerful. Our partners include The Jewish Weekly and Badatz Igud Rabbonim. Comments have included “They boosted, and are continuing to boost, our online presence to far beyond what I could have imagined.” So what are you waiting for? Get in touch today
Contact:
07707 220 445 eli@siteawe.com www. siteawe.com
ENERGY PERFORMANCE
EPC NATIONAL
EPC NATIONAL are leading experts in providing EPC certificates for domestic & non-domestic properties nationwide. Especially with the new regulations coming, we provide guidance to all of our clients. Call the team to discuss any requirements.
Contact:
03300 881141 info@epcnational.co.uk www.epcnational.co.uk
FINANCIAL SOLUTIONS
STEPHEN COLMAN – INDEPENDENT FINANCIAL SOLUTIONS
An independent mortgage broker directly authorised by FCA specialising – for over 25 years - in the more ‘challenging’ situations. We take care of the whole mortgage process on your behalf, handling all aspects of buying your residential or investment property. In addition over the past 5 years we have been at the forefront in arranging Equity Release mortgages for the over 55’s
Contact:
07956 234 524 020 8458 9137 stephencolman2@aol.com
• Finest quality suits all now ½ price • Raincoats from £49.50 • Overcoats huge selection all ½ price • Knitwear Bargains £15 each 2 for £25 • Shirts £25 any 2 for £45 • Trousers up to 58 waist £29.50 2 pairs for £55 • Warm winter casual jackets from £29.50 • Sports Jackets and Blazers all 50% off marked prices • Big sizes no problem up to 60 inch chest and 21 inch shirts.
10 Golders Green Road London, NW11 8LL
Open weekdays until 6pm & Sundays til 5pm
FAUDA MAN PUTS IN A SHIFT FOR MDA
Fauda hard-man and Israel TV superstar Lior Raz joined Magen David Adom UK this week for a series of events in London.
Over 300 people joined the charity across a reception, dinner and then breakfast to hear about the adventures of Israel’s most famous army commander and to fi nd if the real life of Lior Raz bears any resemblance to the onscreen persona.
The guests were not disappointed as Raz, together with journalist and series co-writer Avi Issacharoff spoke about their own experiences in comparison with that of their star character, Doron Kabilio.
Speaking at the event, Lior Raz said, “Every Guests Jennyfer Abergel and Eric Murciano with Lior Raz
time you need someone, Magen David Adom is there for you and I think the spirit of the people who volunteer for Magen David Adom is very much the spirit of Israel.”
Magen David Adom UK Chief Executive
MAGEN DAVID ADOM TECH STEALS THE SHOW AT NEC
In September, in a fi rst for Magen David Adom, the organisation exhibited at the Emergency Services Show at the NEC in Birmingham.
MDA’s paramedics presented the latest in life-saving technology from Israel to buyers and industry professionals from the UK and around the world. The software, named MDANET, was well received as MDA’s stall was inundated with interest and enquiries.
MDANET is an end-to-end software that tracks the full process from the bystander or witness contacting Magen David Adom to the patient transfer at the hospital. It was designed by fi rst responders themselves through a user-focused process. The software takes on board the bureaucracy and on-the-ground issues that act as a barrier to provide emergency care. From discussions at the show it was found that other companies struggle integrating this form of software, making MDANET a viable option for many service providers.
Where other companies provide a solution to each individual aspect in a time-consuming manner, MDA incorporates it all at once. Cutting time and saving more lives.
OUR DONOR DEDICATIONS
We finished the year with a raft of dedications and look forward to even more in 2023.
Andrew Waterman and family – Medicycle The Iriving Carter MDA Station in Tel Aviv
Rahat Station supported by MDA UK Trekkers
Daniel Burger said, “Lior Raz is one of the celebrity stars of Israel and to hear him support our medics, paramedics and volunteers - genuine stars of Israel - shows just how important they are to Israeli society. Everyone depends on them to save lives - even the stars of Fauda!.
Yoni Yagadovsky, Director of International Relations at MDA Israel, provided an update from Israel at the events before going on to speak to audiences in Sheffi eld and Maidenhead.
The events raised £350,000 with the funds raised by the 180 guests at the Impromptu Committee Breakfast going specifi cally towards a new Kia Picanto First Response Vehicle in memory of MDA UK committee member Denise Israel who sadly passed away in 2019.
AWARDS FOR PROJECT LIGHT
PR agency Ready10 recently won the Not-For-Profi t & Charity award at the PRCA UK Awards and the Issues and Reputation Management at the PR Week Awards for the work they did on ‘Project Light’, our rescue of 57 orphans from Ukraine.
In a fundraising fi rst, Magen David Adom UK and Magen David Adom France co-hosted a gala dinner in November. The event was held at The Carlton Tower Jumeirah in Knightsbridge and saw over 250 members of London’s French-Jewish community in attendance.
The event was hosted by Eric Murciano and Jennyfer Abergel and sponsored by Goldman Sachs. Director General of Magen David Adom in Israel, Eli Bin addressed the audience before musical entertainment from Enrico Macias & Amir and comedian Samuel Bambi. After an appeal by Ilan Klein, Director of the International Department at MDA Israel, in excess of £450,000 was donated to help save lives in Israel.
Speaking after the event, Victor Wintz, Director General of MDA France said, “It was incredible to collaborate with our British colleagues to reach a new audience and bring the lifesaving work of Magen David Adom to the French Jewish community in London. I am sure this entente cordiale will result in many more partnerships in the future.”
Daniel Burger, Chief Executive of Magen David Adom UK said, “We were delighted to work with Jennyfer & Eric and thank MDA France for all their assistance. It was fantastic to reach a crowd of mainly new donors for Magen David Adom here in London. The response from the local French Jewish community has been outstanding and I hope we can repeat it again soon.”
Photographer Jonathan Straight and award-winning artist Muhammad Saadi
BLOOMBERG HOSTS MDA CELEBRATION
On Thursday 29th September Bloomberg hosted a celebration of the work of Magen David Adom at its European headquarters in London.
The event was the latest in the long-standing relationship and collaboration between the global media company and Israel’s only national medical emergency and blood service. Most prominently, the Bloomberg name can be seen on the exterior of the Jerusalem MDA station, named after Michael Bloomberg’s late father, William.
The reception also saw the launch of photographer Jonathan Straight’s latest work, ‘DOORPOSTS’. The book showcases the work of the Bezalel Art College students who were shortlisted to have their mezuzah displayed on the recently opened MDA Marcus National Blood Services Centre in Ramla, Israel.
The competition gave up-and-coming artists, from diverse backgrounds, a platform to showcase their work and for 3 of them, their designs used as mezuzot on MDA’s landmark building. One of the winning mezuzot was designed by an Israel-Arab, Muhammad Saadi, who was able to attend the launch and speak to those present about what it meant to him to have his work displayed.
Straight’s book, DOORPOSTS, shows photographs of the artists and their mezuzot as well as providing an insight into their personal backgrounds. Speaking after the event, Magen David Adom UK Chief Executive Daniel Burger, said, “The connection between Bloomberg and MDA is so important to our organisation. When Michael Bloomberg opened the Jerusalem station in his father’s memory he praised MDA’s ‘spirit of volunteerism and its unwavering commitment to treat all people equally regardless of race or religion’ – now, a decade later, that is being evidenced through the work of Muhammad Saadi. MDA is an organisation run by all Israelis,
TREKKING BACK TO ISRAEL
Our trekkers returned to Israel for the first time since 2019 and it was great to be back.
En route the group spent a few days in Jordan, walking through the picturesque terrain and seeing the sights. Whilst there they also took the opportunity to see the medicines donated to the Jordanian Red Crescent in continuation with our collaboration with IHP and Anera. serving all Israelis and, most importantly, saving more lives.” To view DOORPOSTS online visit
www.mdauk.org/doorposts
LIMITED EDITION MEZUZAH
by Osnat Reichman from Bezalel Academy of Arts & Design, Jerusalem
The mezuzah will be a xed to a wing and dedicated to you at the Marcus National Blood Services Centre in Ramla, Israel.
The cost of one of these unique mezuzot is £18,000. If you would like further information please contact Joshua Diamond on joshuadiamond@mdauk.org
FOLLOW US ON SOCIAL MEDIA:
@Magen David Adom UK @mda_uk @MDAUK_
