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‘The client saves money, has advice, gets a policy, but the broker gets nothing’ – Star Letter 29/03/2018

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  • 29/03/2018
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‘The client saves money, has advice, gets a policy, but the broker gets nothing’ – Star Letter 29/03/2018
Mortgage Solutions and its sister title Specialist Lending Solutions select the most thoughtful or thought-provoking comment as Star Letter.

This week the accolade goes to Corby MacDonald, for the response to the post: Robo-advice may offer a good mortgage deal, but what about protection? – Phillips.

He said: “What this fails to take note of is the number of brokers that spend time and effort with clients to ensure they get the right protection.

“But, once they have given them all the necessary advice, the client goes home, uses various comparison sites and puts in the information the broker has spent time and effort to get for them to meet their needs.

“They will then get a quote which will be like-for-like, but the comparison site will invariably have the same policy at a few pounds per month less, because the third-party broker and network has been removed.

“The end result is the client has saved money, has had advice, got the same policy and the broker walks away with nothing.

“It’s not about being a dinosaur, it’s about observing how people behave these days and meeting the customer of today’s needs as well as those that are happy to take advice.”

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