Mortgage brokers should consider becoming financial planners

image
image
expand image

Mortgage brokers should start thinking about integrating qualified financial planning into their business strategies if they want to keep expanding their client base and reaching out to time poor consumers, according to Australian Capital Home Loans.

Australian Capital practice development manager, Michael Burgess, said a surge in junior brokers completing a simultaneous financial planning qualification was demonstrative of a clear convergence between broking and planning.

Burgess said planning skills were vital for brokers as mortgages were a major financial plan and most often the most significant purchase an individual would commit to over a lifetime.

Burgess said the modern consumer was time poor and would find a combination broker/planner the most attractive option when house-hunting.

With protection and expansion of client base a factor of significant importance to brokers and planners, Burgess was confident a combination of the disciplines would help brokers to build more stable client relationships.

The level of trust would also have the potential to be higher, with customers more confident to disclose personal information to a service provider that offered multiple services.

 

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

GG

So shareholders lose a dividend plus have seen the erosion of value. Qantas decides to clawback remuneration from Alan ...

2 months 1 week ago
Denise Baker

This is why I left my last position. There was no interest in giving the client quality time, it was all about bumping ...

2 months 1 week ago
gonski

So the Hayne Royal Commission has left us with this. What a sad day for the financial planning industry. Clearly most ...

2 months 1 week ago

A Sydney-based financial adviser has been banned from providing financial services in the interest of consumer protection after failing to act on conduct concerns. ...

3 weeks 5 days ago

Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand....

17 hours 59 minutes ago

ASIC has cancelled the AFSL of a $250 million Sydney fund manager, one of two AFSL cancellations announced by the corporate regulator....

3 weeks 3 days ago