In our previous article, we discussed the profit potential for financial planners looking to add mortgage-broking to their list of services. But what’s the best way to go about it? What can be done to overcome road-blocks such as compliance, business management and marketing?
Adding mortgage-broking to your list of services is a big step, and not a decision to be taken lightly. You need to ensure you minimise transition costs and maximise profit opportunities as soon as possible. So what are your options?
At Connective, we encourage financial planners to expand using a choice of four different models:
1. Hire a qualified mortgage broker to join your business
Connective can put you in touch with and help you select the right professional to join your existing business
2. Qualify a staff member to write loans
Connective has an established list of reputable mentors to deliver training and can provide the education you need through our award winning Connective Learning Program
3. Locate a reliable referral partner
Connective has access to over 2,500 of the industry’s most reputable brokers to choose from, who are already equipped to deal with the finance broking needs of your clients
4. Join Connective’s new retail aggregation brand iConnect Financial
This is a turn-key solution offering best-practice digital marketing support, the provision of leads, support infrastructure, ownership of your clients and database, training, mentoring, industry education and exemplary levels of support
Overcoming the road blocks
No matter what model you choose, the right choice of aggregator can eliminate the road blocks associated with adding mortgage and finance broking to a financial planning business. One of the biggest pain points for financial planning businesses is the prospect of dealing with two sets of compliance rules. Connective makes it simple with One-Click-Compliance built into our Mercury software, plus the Compliance Support Team will provide the necessary assistance and support moving forward.
Our Mercury software platform also eliminates the pain point of business management, simplifying the back end of processing loans and maintaining your database. It gives you complete control over your business, keeping everything in one easy to manage platform.
This includes your marketing functions. With Connective’s cost-effective My Marketing services, you can promote your new finance broking services to your existing clients and establish an online and social media presence to generate new leads for all areas of your business.
Joining Connective could be a wise move. With your own dedicated Broker Support Manager to make the transition easy, you’ll find it’s the fastest way to get your business up and running quickly and profitably. To find out more with no obligation to proceed, contact us to learn more at www.connective.com.au/explorefinancebroking.
Connective Broker Services Pty Ltd ACN 161 731 111 | Credit Representative Number 437202 is authorised under Australian Credit Licence Number 389328
