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TMPE2014: Client banks key to selling protection

by: Samantha Partington
  • 19/11/2014
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Advisers need passion and motivation to increase the protection they sell using existing client banks, said Gareth Herbert, national sales director at the Mortgage Advice Bureau.

Herbert (pictured)  said there are plenty of opportunities to pick up the phone and speak to clients but it can prove daunting for advisers if they have not had any contact with them since putting the mortgage in place.

“We know from setting up service centres from around the country over the last two years, it was really hard to get people to pick up the phone even when they were trained and have that all important conversation.”

Herbert told advisers it took passion to make what he said was the ‘hardest call’ and recommended that they put in place a strategy to help them achieve their goals.

– Look at the client bank for ideas on why you can pick up the phone – birthdays, university graduations, updating them on your contact details, updating their contact details.

– Hold call-out campaigns. Set yourself a call out target for the day.

– Opportunities from the Mortgage Market Review – send clients a budget planner for them to prepare ahead of their mortgage appointment and ask them to fill in a protection budget as well as a mortgage budget.

– Use the upcoming pension reforms as a reason to speak to your clients. Clients choosing to cash in pension savings may lose death in service benefits.

– Courtesy calls. Remind your clients you are still on hand to help.

– Review their policies and circumstances, they may have some cover they did not know about which could help them with some life circumstances such as a critical illness which they may have suffered.

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