Compliance support firm Simply Lifetime has unveiled an IFA-targeted information guide looking at the rules for soon-to-be-regulated home reversion schemes.
Called ‘Enlightenment’, the Simply Lifetime guide explains how the sales process will differ under the new FSA rules, says the firm, and looks specifically at how suitable advice must be given.
Although the guide is primarily targeted at financial intermediaries, James Mayne, now compliance partner at Simply Lifetime, says data should also be of interest to lenders and distribution networks looking at how the new rules will impact on their business.
“Our research has shown that many IFAs are having problems navigating the FSA regulations and they would clearly benefit from a no-nonsense guide that throws light on the subject.”
This is the first publicised project from Simply Lifetime, a new company established by Inca Practical Intelligence and Smart Compliance Solutions to help financial intermediaries and lenders understand the key aspects of new mortgage and sales compliance once FSA rules come into force on October 31st.
Simply Lifetime has been designed to help firms set up, manage and consult on mortgage compliance solutions to:
- training and competence
- complaints procedures>li>FSA sales process and documentation
- advertising sign off and procedures
- site inspections and audits,a nd
- communication and education including the development of guides and due diligence
- Market entry evaluation and implementation including market evaluation, entry strategy, funding solutions, infrastructure development.
- Distribution development including identification of quality distributors, development of distribution strategies and solutions, sales process development and training, and
- Marketing including research, product development, proposition development, distributor support, customer acquisition and customer development.
Mayne is known for his previous work at Britannic Money, e-loan and Compentent Adviser while Alastair Waldron and John Stoughton previously owned consultancies before forming Inca Practical Intelligence.IFAonline
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