The Right Mortgage & Protection Network’s latest bi-annual national training event saw a discussion into whether advisers owe their clients a duty of care.
The consensus among both members and lenders and providers is that advisers do owe their clients a duty of care, in particular to protect the client’s mortgage. In a survey of the network’s members, 99% agreed that they owe their clients a duty of care.
Ben Allen, compliance director at The Right Mortgage & Protection Network, said: “It is imperative that our members fully appreciate the duty that they owe to their clients. In doing so, it will help the adviser achieve better consumer outcomes, avoid potential complaints in the future and also give them the opportunity to earn more through the extra services provided.”
The event saw almost 200 advisers attend from across the mortgage, protection and PMI marketplace, where they had the opportunity to speak to over 50 lenders and providers in an interesting and informative day.
Peter Fox, adviser development manager at Royal London and a presenter on the day, added: “It was an excellent day. My role takes me to these type of events all the time and this was easily one of the best planned and run and of the most use to us.”
Terry Humphreys, a member of The Right Mortgage & Protection Network, said: “The event was an enjoyable and informative day with a good selection of lenders and product providers together with an informative Compliance presentation, all of which were relevant to promoting and protecting my business.”
The network hold a number of workshops and training events throughout the year, with the next one being a later life lending workshop being held on 13 June in Knowle, Solihull.