Mortgage broking represents a major opportunity for financial planners looking to improve their profit margin, and incorporating this service is not as difficult as first thought.
Every business owner wants to understand the value of their business. But what does a great business look like with real enduring value? Here are five simple steps to manage and track how your accounting firm is creating future value.
Automation is no longer a far out concept best left to science fiction, it’s here and it will dramatically change the way you do business. So how can you make automation work for you and your clients?
If there is an oversupply of businesses for sale and uncertainty around the revenue there will be downward pressure on the price being paid. So how do you get the best price for your business if you are planning on exiting in the near future?
Considering venturing out on your own? Here’s everything you need to know to start and grow your own business…
Convergence, what a buzzword! ‘The Convergence Debate’ is the latest neologism in the mix, with various industry figures disputing whether brokers should also offer financial planning, and vice-versa. It’s a topic that has been getting a lot air time recently and I find it interesting to see how our industry is evolving. However, I think the ‘Convergence Debate’ is overlooking one very important element – and that’s your end client.
The debate raging around industry convergence is pointless. Will the territory of accountants and financial advisers begin to converge? That ship has sailed.
The reality is accounting and wealth management should never have been separate in the first place. They are one and the same.
Given that a cookie jar usually has a variety of flavours and options, when looking at your business the cookie jar analogy is not that different.
Future-proofing is often defined as ‘the process of anticipating the future and developing methods of minimising the effects of shocks and stresses of future events.’
Generally, Australians talk to a mortgage broker at the beginning, or at key stages of their financial life cycle.
So, as a mortgage broker, if you were in a position to offer your clients more than just finance at the beginning of their financial journey, you have a big opportunity to build a relationship based on trust, encourage client loyalty and, diversify and increase your revenue stream.
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