Brokersmust come to terms with the new environment
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Our industry is changing and as practitioners we must change our business models along with what we offer clients.
Many intermediaries have manipulated fast-track, and its abolition along with self-cert will help reduce risk in our industry.
There has also been a significant amount of irresponsible lending and sadly many advisers have supported this, using the excuse of helping clients.
Although some will feel the pain of lost revenues there needs to be a return to stricter risk-based lending.
If you rely solely on earning proc fees it’s time to review your business model. With more than 90% of the best rates now available direct, how can you provide impartial advice if you rely only on this source of revenue?
If you need help evolving your business model there are plenty of
resources available.
STUART WHITE
ZONE FINANCIAL
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