Goldman Group to stop offering insurance and mortgage advice
Tue, 10 Nov 2009
Brokerage Goldman Group has decided to stop offering insurance and mortgage advice due to the tough market conditions.

It referred to a decline in mortgage lending, lack of competition between lenders and "their desire to cut out mortgage brokers " as reasons for its closure, along with the rising cost and burden of regularity compliance.

Michael Goldman said: "Over recent months, due to our desire to provide clients with what we believe to be 'best advice' we have regularly advised on options which to do not pay any commission. We have always believed in providing a high quality, low-cost service to our clients, a fact recognised by several national awards for this service. Unfortunately in the current economic climate we feel it is not viable for us to continue with this business model."

He added that the firm have ensured that all existing clients will continue to receive mortgage and insurance advice.
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