Mortgage brokers should consider becoming financial planners
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.
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