Lending background not so important, says Mortgage Choice
|
|
Only 32 per cent of new Mortgage Choice franchisees in 2009 had a lending background.
“There is no particular skill set needed to own a financial services franchise,” said senior corporate affairs manager, Kristy Sheppard, adding that Mortgage Choice considered that having sales and customer services experience was more important than having a lending background.
Mortgage Choice’s Franchise Recruitment Index revealed that of the franchise owners who started up in 2009, 47 per cent moved directly across from a role that was unrelated to banking or finance. Previous statistics show that 91 per cent of franchisees who joined in 2005 and 2006 were not from banking or finance.
Sheppard said a lack of financial services experience was not a disincentive for new franchisees, because Mortgage Choice was confident in the relevant skills taught during the induction course and the ongoing professional development program.
Franchisees have varied career backgrounds and include lawyers, pharmacists, real estate agents, nurses, a Civil Aviation Safety Authority employee, a financial planner, an owner of a landscaping business and a music industry employee.
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
