MCI Mortgage Club has introduced a new compliance proposition for new and existing mortgage and protection members.
The club has joined forces with the Richdale Compliance Consultancy to provide services for the directly authorised (DA) sector. Richdale Compliance also operates a network for appointed representatives (AR).
The service includes all aspects of compliance support, from ensuring that the correct procedures and governance are established, through to case checking and reviews.
MCI’s compliance proposition also includes an ‘AR to DA’ transition service for those firms currently operating as ARs but wishing to become directly authorised; the transition service is designed to ensure that firms successful transition to being a DA with minimum disruption to their business.
As part of the launch, MCI is offering an initial, free, no-obligation consultation and those members who sign up before October 2020 will receive a 15% discount off their first year of fees.
Melanie Spencer (pictured), head of MCI Mortgage Club, said: “We are building a first-class proposition here at the MCI Mortgage Club and enhancing our compliance proposition was high on our agenda. Partnering with an established and recognised team who hold the same values that we do, is a natural fit for the club and our growing membership.
“Regulation is a necessary reality within the mortgage world, where brokers naturally want to concentrate on advising their clients. Through Richdale, our members will get the comfort and security of a network’s resources and depth of knowledge but will continue to enjoy the flexibility and freedom of being directly authorised.”
Jacob Bernstein, managing director of Richdale, added: “Compliance is a function that forms the core of any financial services business and we are delighted to partner with MCI to enhance the service they provide to their members. Together we are advancing MCI’s vision of an all-encompassing support package.
“We look forward to welcoming and supporting MCI members and becoming an integral part of their business, transforming the burden of compliance into a value-added function of the business.”
