Mortgage News
What you should expect from your network
There is barely a day when regulation in some form or other is not in the headlines.
The fact that compliance and regulation can now be so onerous is the reason that networks are still in so much demand, in order to help relieve the compliance burden.
However, after the fall out of the last few years, what you get from your network can vary dramatically. So, what should advisers expect from their network in 2011?
Financial security is the number one concern for any adviser.
Far too many networks have disappeared owing their advisers many thousands of pounds in unpaid commission, so the way forward has to be larger networks that offer financial stability and growth.
However, advisers should now expect much more than just a healthy proc fee; with the need for mortgage advisers to diversify to stay alive, networks can add real value by offering proactive packages of training and support.
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For many advisers, life sales are a considerable departure from selling mortgages and, if a network can help an adviser sell life and protection as capably as they can sell mortgages, then it adds real value to the adviser and helps advisers deliver the protection cover that their customers really need.
Yet, where things have changed the most in some networks is realising that not every adviser business is the same.
As so many advisers have adapted and grown in order to stay alive and prosper in the new market conditions that we find ourselves in, a one-size-fits-all package from a network just doesn’t work any more.
To find a network that really adds value, I think you need to find one that recognises that every individual adviser business has different needs and then takes the time to get to know each business and offer help that is specific to the needs of that business.
If you’re thinking of joining a network or changing the one that you’re in, identify what your business’ individual needs are and then find a network that will do something different to the norm to help your business prosper.
Jon Round is chief executive of First Complete