Brokers have an even bigger part to play now than usual in looking after their existing customers. New Year is the time that most people start thinking about their finances so it is the perfect time to get in touch with clients to see how they are managing and remind them to come to you rather than a competitor.
Worrying about finances, especially making mortgage payments, can be stressful and have an implication on people’s health, so it may be the time to help with the mortgage and make sure a client has got an income protection policy in place.
As the broker who sold someone their mortgage and protection policies in the first place, you will know what products the client has got probably better than they do themselves; the client may not know that they can take a payment holiday for example, which may prove a real life saver for some people at this time.
Other clients might want to consolidate debt, or need to discuss their buildings and contents policies – especially if they have been affected by the recent severe weather.
January is also a time when most brokers are reviewing their business plans for the year ahead, or implementing the plans they wrote in December. In fact you are likely to be pulled in many different directions in January, the impact of which you may not always see on your bottom line.
If you are part of a network for example, it is likely that your network will also be pulling you off the road for a ‘kick-off’ style meetings to update you on current opportunities as well as prepare you for the impending Mortgage Market Review – the biggest regulatory change we have seen in a decade – but you reap what sow and the time you invest now either in looking after your customers, in additional learning or restructuring, will have positive benefits later in the year.
Toni Smith is sales operations director at First Complete
