Market instability and constant negativity around Brexit in the consumer media means brokers have a real chance to provide balanced and sensible advice to reassure clients, Private Finance’s Shaun Church has claimed.
Talking as part of the latest Accord Growth Series podcast [23.54], Church, the director at Private Finance, said that although the wider media can be sometimes guilty of talking us into a recession, brokers should use the opportunity to provide practical and impartial guidance in such uncertain times.
Church (pictured) elaborated: “When people see something negative they seek comfort. And when they look online and realise they can’t find the information as readily as they would want to, they need their mortgage broker to advise them.”
Although he’s quick to admit that the insecurity surrounding Brexit “is certainly keeping us on our toes,” Church recognises that, for brokers, the underlying basics of providing solid advice to clients remain the same.
It’s always important to maintain consistent and useful communication with your clients, but it’s particularly important in times of uncertainty.
He notes that as the shift towards longer-term fixed rates increases in velocity, and perhaps replaces opportunities for more traditional repeat business, it’s important to continue to stay in touch with clients who you may begin to see less frequently.
Be prepared for challenges
The comments feature in the ‘Volatility in the market and the implications’ podcast from Accord, which is available to download from the link above.
This is the first anniversary of Accord’s Growth Series, which is providing access to content, guidance and support to brokers to drive their businesses. Over 3,500 brokers have signed up to the series.
Jeremy Duncombe, director of intermediary distribution at Accord Mortgages said: “While we can’t predict what will happen over the coming months, it always helps to be prepared by discussing the potential challenges facing the industry.
“Brokers are busy people and our podcasts, which share the insight of key industry figures such as Shaun, are easy to listen to while on the road. We’re thrilled with the response to the series so far and have developed our 2019 content plan based on broker feedback to ensure we’re addressing the topics they want to know about.
“The Growth Series was launched to offer brokers materials to expand their businesses. In its first 12 months, content has included how to generate more leads online, using LinkedIn successfully, an online lead generator and a buy-to-let guide to understanding tax changes which brokers can download, brand as their own and send to clients if they wish.”
A video discussion, sponsored by Accord, touches on the Growth Series and a raft of other industry topics from technology advances to mortgage commission fees and will be coming shortly.