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Therefore, 12 months of chasing new business is generally the only option.
One rule we will and always stand by is the ownership of clients.
Clients will forever and always belong to the broker, not TEn’s, not ever.
As an Appointed Representative, you become an approved person/company, running regulated activities and acting as an agent exclusively for a Principal company (like TEn Insurance Services or any other insurance network).
The Principal company effectively sub-regulates you and ensures that you comply with FCA rules.
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There are many different options to consider how you become an approved insurance broker and we are putting together a comprehensive comparison between the Appointed Representative Route and the Directly Regulated one.
For now, we shall expand on how to become an Appointed Representative (AR) insurance broker.
So, we can accommodate a whole range of client sizes. A number of ARs use TEn and the AR model as a springboard to direct regulation when they have outgrown a network or have reached a suitable size to employ enough people to do all those things the network does for them.
In many ways, we regard this scenario as excellent marketing and a recommendation of our services.