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Do more to attract new talent, mortgage brokers say

  • 01/07/2022
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Do more to attract new talent, mortgage brokers say
In a survey of 170 mortgage brokers, commissioned by Accord Mortgages, just 15 per cent said they thought enough was being done to encourage entrants into the field.

But more than three times that, 47 per cent, said not enough was being done to attract new talent, while another  38 percent said they were unsure either way. 

Among those who said they didn’t believe recruiting was sufficient, 88 per cent said they thought the shortfall constituted a risk to future homeowner support.

When asked how to resolve this, suggestions offered included providing more work experience or shadowing for people still in school; using government support, job centres and career advisers to expand apprenticeships; and getting trade groups to take the lead in encouraging more applicants. 

When it came to diversity and inclusion, nearly 70 per cent of respondents said they felt there was already enough gender diversity among brokers but only 25 percent saw disabled people as being adequately represented. More than a quarter, 26 percent, said they felt that the industry lacked ethnic diversity.

Jeremy Duncombe (pictured), managing director at Accord Mortgages, said: “Attracting new broker talent is key, so that the market can thrive and grow, benefitting from increased diversity and fresh ideas.”

“What’s also clear is that advisers need to be mindful of changing customer expectations”, he said, “particularly in terms of inclusion and diversity. Thoughtful recruitment is vital to attract new talent who will represent an increasingly diverse customer base, and maintain relevance with your clients.”

Some of the respondents to the survey conducted by Opinium Research may have been thinking about their own career paths. When asked why they became brokers, 43 percent cited satisfaction from securing a property. A quarter said the job offered good work/life balance while 36 percent of those surveyed said they had just fallen into a career as a broker.

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