One-to-one with Simon Broadley, MD, Tenet Lime

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  • 31/05/2018
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One-to-one with Simon Broadley, MD, Tenet Lime
Hotfoot from Yorkshire Building Society, Simon Broadley, Tenet Lime’s new managing director talks to Mortgage Solutions about his member strategies and the industry just a few months after joining in January to head up the network.

 

Simon Broadley, the new managing director at Tenet Lime agrees it’s good to talk. But he’s also a listener when it comes to his network members.
One of the first things Broadley did when he was appointed managing director at Tent Lime was to replicate the bi-monthly adviser forum on the mortgage side it already had on the investment and pension sides at Tenet Group.

It’s a full day of talk, simply bringing together adviser representatives who speak to their peers on the challenges they face, to share ideas or test out strategies, which ultimately feeds the strategic direction of the network, says Broadley.
“You’ve got to afford yourself that time. It feels like a luxury but from those calm moments of conversation, that’s where the nuggets come from. It’ll prove invaluable over the next two to three years.”

Broadley was head of insurance and investments at Yorkshire Building Society Group for four years, but at the mutual for eleven and a half years all in and is still a non-executive director at Leeds Credit Union. This is where Broadley can bring his lender experience to bear on what he calls Tenet Lime’s strong track record of delivery.

Tenet Group offers both appointed representative and directly authorised support to advisers, across investment, retirement, mortgage, protection and insurance services.

It also offers support through the whole ‘lifecycle’ with apprenticeships, traineeships, on to appointed representative status, setting up a firm or buying another with a professional business loan, to becoming a directly authorised broker.

So what are the brokers telling Broadley they want in the coming year?

“Members want to be supported on social media,” said Broadley, which led to the group launching a centralised social media policy and initiative with 80 or 90 pre-approved tweets, which can be selected at a time critical moment like a base rate change.

Brokers can work with the compliance team to validate any individual more tailored messages, he added.

“I had an email last week from a broker who tweeted and attracted two appointments. That’s two which weren’t there before for five minutes of effort. And that was all borne out of member feedback,” he said.

 

The digital age

With the rise of digital adviser challengers and the technology-driven race to make service ever more customer-centric, anticipating change has become more important, says Broadley.

“We need to listen, provoke conversation and debate and be quick to recognise an emerging route of servicing a customer,” he says.

“Whenever I speak to a principal I am always really taken aback by the sheer breadth of what they contend with – premises issues, people issues, thinking about cashflow, so anything we can do to be one step ahead of them and anticipating change, we will.”

Broadly says whatever the future holds, there will always be a B2B lead market, whether the majority of those emerge from estate agency or not. Recommendations from customers will be equally as important, he adds.

“As a network we have to build that agility to anticipate where broker firms can build opportunity.”

 

Challenging the lenders

On the mortgage lending community, Broadley says: “I want to instil some positive tension into our relationships with our product providers. I want to know how they’re evolving their propositions to the benefit of our members and the end customer.”
He wants to really challenge lenders on what they’re bringing to market, he says.

On intergenerational lending, Broadley adds that he is keen to see lenders transition while keeping security intact and helping grandchildren get on the ladder.
“This issue feels like a moral conundrum for the industry because they want to support the 20 somethings who know how easy it was for their older relatives…any mortgage provider that can look to bridge that will be doing everyone a service,” he says.

“That’s where Tenet Lime and Tenet are in a strong position. We have that rich seam of insight from those approaching retirement and also from, those looking to get on the housing ladder.”

Broadley says the group is very proud of the groundwork it has done in the last three to five years but is looking to build on that essence and spirit that got the group to this position in the first place.

“There’s always a danger when you can dictate your own strategic direction without a major shareholder, a danger that you can spread yourself too thinly. We want to pick two or three things we do really well so the member experience is even better than it was last year.”

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