MCI partners with Richdale to launch compliance proposition

The MCI Mortgage Club has partnered with Richdale Compliance Consultancy to launch a new compliance proposition for new and existing mortgage and protection members.

Richdale operates a network for appointed representatives (AR) and the partnership will see MCI provide a range of services for the directly authorised (DA) sector.

The new services include all aspects of compliance support, from ensuring that correct procedures and governance are established, through to case checking and reviews.

MCI’s proposition also includes an “AR to DA” transition service for firms currently operating as ARs but wishing to become directly authorised. The Club suggested this can ensure that firms get to establish the full control and flexibility of being a DA, with minimum disruption to their business.

MCI head, Melanie Spencer, commented: “We are building a first-class proposition here at MCI 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.”

Richdale managing director, Jacob Bernstein, 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.”

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