Advise firms are people-centric businesses at their heart – so what are the qualities that will enable them to thrive in today’s increasingly complex and competitive marketplace?
Communication is key
An outstanding mortgage adviser needs to be a strong communicator. It’s not just that they can strike up conversations with their customers, but that they actively enjoy it.
And communication doesn’t end when the application process does. A skilled mortgage adviser will stay in contact with their clients after completion and keep them informed of any deals that may be of benefit to them.
This will include getting in touch with them in advance of their current mortgage deal ending as well as reminding them to adapt their protection products to any change in their circumstances.
Looking out for a client’s financial interest is the best way to keep that customer and generate repeat and referral business.
Similarly, communication doesn’t stop with clients. Successful brokers create strong relationships with lenders, protection partners and other advisers.
Networking expands brokers’ industry knowledge, and they can use this expertise to better serve their clients. Successful brokers are two-way communicators willing to listen and learn about any given topic.
Ability to adapt
The mortgage market is constantly changing and evolving, and a good broker changes with it.
Technology will continue to enhance the mortgage application process. The most successful brokers are already investing in technology to improve the quality of service their customers receive.
These advisers use digital tools to provide the highest quality service to their customers.
Technology also helps advisers work smarter. The less time brokers can spend on administrative tasks, the more they can spend focusing on helping their clients.
As the market continues to evolve advisers need to ensure their advice remains tailored to a customer’s specific needs.
Being part of a reputable mortgage network or club allows advisers to access the latest products – including those that are not available to the wider market.
Events can also expand their knowledge and training in line with the latest market developments, thus ensuring their customers always receive the latest and most accurate solutions and advice.
Maintaining a strong reputation
Successful brokers are trusted by their clients and are clear about their specific areas of expertise.
Many do not attempt to be a jack of all trades, but instead build a specific offering, focusing on serving a niche (often regionally-focused) client base.
The most successful advisers give their customers peace of mind that they have secured the best deal for their circumstances.