We are reclassifying the Commercial Expert designation as Commercial Specialist. Please note, there are no changes to the current benefits for ARs who have consistently demonstrated the quality of their commercial business.
ARs who qualify will continue to deal directly with lenders where a direct-to-lender distribution route is available. I can also confirm that commission calculations remain unchanged.
Becoming a Commercial Specialist
To qualify as a Commercial Specialist, the following steps are required:
- Attend the Commercial Training Day
- Pass the relevant assessments
- Submit three quality cases via the Packaging Team to our Commercial Lenders
A quality case must include all necessary documentation and calculations, enabling the lender to issue formal indicative terms at the outset.
Introducing: Commercial Expert
A new Commercial Expert category is being introduced. ARs in this category will receive their network deduction from the gross procuration fee, subject to the following criteria:
- Must have achieved Commercial Specialist status
- Must complete six cases in a calendar year, with a combined minimum value of £6 million in Commercial lending
This new structure mirrors the recently launched Development Finance Specialist and Expert framework.
Important Notes
Both Specialist and Expert statuses apply at the firm level
It is the responsibility of the Firm’s Controller to ensure that all advisers maintain the required quality of submissions
Expert status will be reviewed quarterly
Should you have any questions or require support, please don’t hesitate to get in touch with you Business Relationship Manager.
Regards
Kevin Thomson
Corporate Director
If you have any questions, chat to the Member Support Team