Connect Mortgage Club has launched a new website for intermediaries and non-regulated advisers.
The firm, part of the Connect Group, claims a major draw on the site is the introduction of a new facility for non-regulated advisers to transact buy-to-let, commercial and bridging business by becoming an AR of Connect Mortgage Club’s non-regulated network.
Connect’s team can also deal directly with clients who are referred to them for regulated advice and pay referral fees.
Brokers who wish to become authorised need to formally apply to confirm fit and proper status, with full checks being made.
“We believe that our service will appeal to those brokers who have decided that the financial and administrative burden of regulation, is not worth the aggravation,” said Kevin Ward, head of operations.
“The recent failures of large networks like Honister prove just how vulnerable intermediaries are if their principal is financially compromised and direct authorisation does not suit many adviser firms, because of its cost and high maintenance.
“The added value for our ARs is that they can refer clients, whom they identify as needing regulated advice, to our in house team, who will provide advice directly and pass on a competitive referral fee on completion. This is a business model, which will suit a lot of intermediaries, who are tired of being let down by the polarisation of financial services advice.”