DMC promotes best practice by becoming founder member of APDSI

Wednesday 18th January 2012

A leading debt management organisation has become a founder member of the Association of Professional Debt Solutions Intermediaries (APDSI) – an association dedicated to professionals within the debt solutions industry.

The organisation, Release Money Group, offers bespoke advice on a range of financial solutions and services and includes debt companies Varden Nuttall and Debt Release Direct.

Alasdair Warwood, Secretary General of APDSI, commented on the new membership. He said: “We are pleased to welcome Release Money Group as a founder member of the Association.

“The directors of the business have extensive experience of the market and understand the difficulties that consumers are facing in the current economic downturn. Their membership will strengthen APDSI’s ability to meet the needs of the market in a compliant way.”

APDSI was established in November 2010, and was set up with the aim of helping intermediaries and brokers offer a range of debt solutions to financially disadvantaged clients, whilst complying with regulations on consumer credit and debt advice.

The association wants to ensure intermediaries can offer all forms of debt solutions, including Debt Management Plans (DMPs), Individual Voluntary Arrangements (IVAs), Protected Trust Deeds (PTDs) and bankruptcy.

Stephen Slater, CEO at Release Money Group, said: “Release Money Group is proud to be a founder member of APDSI. In an industry that is striving to drive compliance and best practice, we want to make sure that any potential intermediary or broker has access to as comprehensive a range of services as possible. Following our recent DRO-approved intermediary status, we truly believe that we can offer the full spectrum of debt solutions.

“All people should be able to call on companies that they can trust to offer truly ethical and best advice. We believe that APDSI is a forum that will allow like-minded individuals the medium to be able to share these wants, along with ongoing best practices.

He continued, “As a DMC we want to see a level playing field when it comes to client acquisition and we believe that joining APDSI will allow us to try and drive this objective.

“We have to remember that TCF is not just an acronym to be banded around ad infinitum but a way of behaving that is driven through our company by everyone, from the chairman to the office junior. APDSI reflected the same ethos.”

Alasdair added: “The emerging regulatory environment, bringing as it does greater clarity as to what constitutes debt advice and greater focus on the increasing compliance requirements placed on all practitioners, requires that the intermediary market has a strong representative voice both amongst regulators and amongst debt solution providers.

“An important element in achieving that, given the myriad of small intermediaries, is an association like APDSI which can help in the education and the vetting of such intermediaries. For it to achieve those objectives, APDSI aims to achiever amongst its members the broadest coverage of debt solution providers to help spread the message. Release Group’s membership is therefore a welcome extension of APDSI’s ability to influence and persuade.”