Network research ‘essential’
A broker has warned the importance of thoroughly researching a network before committing to its proposition.
James Clegg, director of Anvil Financial Solutions Ltd, joined Openwork after setting up his own firm but encountered a number of problems which complicated his business.
Register for 'Adviser Finder' here
He said: “I was somewhat new to the whole process and needed all the support I could get and Openwork seemed like a good choice, given it size and market presence. However, after a long and protracted joining process which involved a week’s residential ‘training’ course in Swindon, the flavour of things to come soon became apparent.
“It was when I began to write business that the real problems emerged. The submission process was weak and time-consuming, and the final straw came in the form of the payment department, which I am still chasing for a print out of my final commission statement so I can claim the money back that it has ‘lost’ in the system. A word of warning to the wise – if you value your sanity, money and business, choose your network carefully.”
Get the daily news delivered to your inbox
Openwork admitted it had problems in the past but had undergone a number of changes to improve its service.
Joe Kessler, marketing manager at Openwork, said: “We accept that 12 months ago our submission process was cumbersome. This is precisely why we have invested in IT over the last year, culminating in the launch of a point-of-sale system in 2006.”
- Packagers anticipate volumes growth
- HIP shelf life plan mooted
- MoneyExpert reveals application fee worries
- Stroud & Swindon launches fixed BTL deal
- A painful process
- Freedom Lending reduces rates
- Viewing to offer ‘takes less time than choosing a holiday’
- GMAC-RFC and L&G launch microsite
- Remember pensions borrowers urged
- Commercial growth set to continue
- A&L enhances specialist range
- Unity launches ‘large loans range’
- Kensington upgrades online service
- Research highlights mortgage woes
- Innovation needed in BTL market
- EPCS ‘to damage BTL market’
- Nationwide scraps 25-year mortgage
- Trustguard adds to panel
- Picture withdraws from broker market
- Estate agent inspection motives questioned





