Specialist second charge distributor Smart Money has appointed Phillip Bond as compliance director.

This appointment underlines Smart Money’s compliance credentials and its dedication to supporting brokers on all compliance related aspects of second charge borrowing, while maintaining its first class service values.

Bond has around 20 years financial services’ senior compliance experience working within companies such as Bankhall, Swaines Ltd and Towergate.

His role is to ensure that Smart Money is prepared and ready for the process of being granted full permissions by the FCA next year.

The new role will also encompass dedicated support in helping brokers though any regulatory matters concerning second charge business.

Paul Crewe, director of Smart Money said: “The appointment of someone with Phillip’s experience and background of working closely with a variety of regulatory bodies illustrates just how seriously we take our compliance commitments in the new regulatory era.

“The tightening up of permissions and regulatory modifications will only serve to strengthen the rise of the second charge market as a justifiable option to consumers, which can only be a good thing.”

He added: “Brokers need an additional level of support from distributors such as Smart Money to ensure they are compliant in the new FCA environment.

“It is important that we can provide peace of mind that advisers know they are working with partners who are fully committed to working within regulatory boundaries to provide the best possible service standards.”