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‘Robo-advice is what brokers should be doing anyway’ – Jeremy Duncombe

by: Mortgage Solutions
  • 14/09/2016
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‘Robo-advice is what brokers should be doing anyway’ – Jeremy Duncombe
Committing to the onward march of technology and working more efficiently is something mortgage advisers should be doing whether they call themselves robo advisers or not, said a mortgage club boss.

Speaking on a video panel, sponsored by NatWest Intermediary Solutions, Jeremy Duncombe, director at Legal & General Mortgage Club said brokers should already be using technology to make the whole advice experience more customer-centric.

Group editor of Mortgage Solutions and chair Victoria Hartley broadly outlined the service online mortgage adviser Trussle has been offering its clients since December and Duncombe said: “What you’re describing is what brokers should be doing anyway. Gathering information upfront, digitally or otherwise, saving time and being as efficient as possible. This is more about allowing the adviser to free up time, to work with the customer and provide them with a better service and set themselves apart from what a robot can do.”

He added: “A robot cannot give the same level of service and personal care that a broker can and that’s where advisers need to concentrate.”

This week, Habito, which hit the market in April, launched what it called an ‘artificially intelligent mortgage advice service’ which it suggested, was digital-only. However, Trussle’s CEO and founder continues to reaffirm the importance of a mortgage adviser monitoring the advice process at the centre of the technology.

Habito launches ‘human-free’ mortgage advice service

Graham Felstead, head of NatWest Intermediary Solutions, said technology can help the industry put the customer at the centre of the process.

“So, if it’s a time saving for the customer to discuss the mortgage when they want to do it, rather than say you can come in in the next three weeks which is often happening in branch, whether its a direct -to-lender proposition or a broker one, you can almost say you’re 24/7.”

Our panellists are:

Graham Felstead, head of NatWest Intermediary Solutions

Mark Graves, sales director, Sesame Bankhall Group

Jeremy Duncombe, director, Legal & General Mortgage Club

Sally Laker, managing director, Mortgage Intelligence

Click on the video below to watch the debate. [09:18]

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