MORTGAGE & INSURANCE LINK by Josh Bronkhorst
Choice and efficiency underpins group’s FAP strategy Mortgage and Insurance Link re-affirms its licensing model and adds an in-house administration and compliance support service to its adviser services. Responding to what advisers need
“We made the decision to establish a Mortgage and Insurance Link FAP and also provide for advisers who chose to set-up their own FAP when the concept of licensing was announced some two years ago,” says managing director of the group, Josh Bronkhorst. “Right from the start, we wanted to be able to provide robust and comprehensive support, but also flexibility and choice for advisers of various business models.” Over 80% of the 120 plus adviser partners the group currently supports have signed up to operate under the Link FAP in the new regulatory regime.
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“Initially we encouraged advisers to set up their own FAP. But, with what we know about the additional compliance and administration requirements of the new regulatory regime, we believe that many advisers will look to stay with or join a group that offers them: reliable systems; processes and support; keeps them safe; helps them find and keep new clients; maximises the time they spend advising; and helps them grow their businesses. We’re taking the necessary steps to support this need in the adviser community – we've always opted for quality as a group and the time is right now to gear up for growth.”
“These past few weeks have been extremely challenging for everyone, but they have also highlighted how vital it is for advisers to have the right structures in place – for business growth and success, regulatory requirements, and the age-old pursuit of freeing up or maximising time for providing quality advice,” says Bronkhorst. “Our model provides options for advisers to work under our FAP or their own FAP; to join our brand or to aggregate through our group under their own brand. We’ve also ensured we can provide options in the CRM space: In addition to Advice Link, our bespoke mortgage and insurance CRM developed over the past three years, advisers under our group can also choose to use Trail (for mortgage and insurance) or Xplan (for insurance).” Bronkhorst noted that many of the group’s larger adviser businesses had their own administration staff. However, to help smaller adviser businesses, single advisers who do not have administration resources, or those who will need more support in the new regulatory environment, the group has developed a new Administration and Compliance Support Service. “With regulatory change, and of course the impact of Covid-19, a lot of advisers will be reviewing what’s
