Mortgage brokers set sights on advice upskill

The Financial Services Convergence survey, conducted by ifa and sister publication The Adviser, has found that a majority of mortgage broking professionals (55 per cent) believe it is practical for brokers to provide financial planning services, while 32.4 per cent do not.

Of the 149 responses, 71.6 per cent of respondents believe it is a genuinely valuable proposition to be able to offer solutions that meet all of a client’s financial needs.

“We know their financial position and it would be a simple step to discuss their financial goals and provide solutions,” commented one anonymous survey respondent.

“[A] majority of info for both can be collected at the same time, plus [the National Consumer Credit Protection Act regulations] should ensure we collect the info to determine suitability,” said another.

Mortgage brokers set sights on advice upskill

Reporter

Last Updated: 28 January 2014 Published: 28 January 2014