I have been out and about a lot recently and one of the overriding themes of conversations with brokers is the trouble many are having recruiting good advisers.
Those that understand a client’s needs and are willing to go the extra mile to find solutions, not just for the sale but because they really care.
Of course, with the economy the way it is and everyone having to watch every penny while trying to earn a decent wage, it is perhaps understandable that there are some who may have been motivated purely by money. Nonetheless, for a broker’s business to succeed in the long term, it is those that have the client relationships, built on trust, that will ride out the storm and prosper.
So this got me to thinking. Are these brokers who are having trouble recruiting looking in the right place? Do they need to recruit or could there be other solutions?Why not look at streamlining business processes, recruiting good administrators or even outsourcing some on the work in order that you get the best out of good advisers? Or even look at building strategic alliances with similar firms to pool resources and cut costs.
If brokers are able to cut running costs in other areas they may find they have more time and money to spend on training the advisers they do have.
Investing in staff that have remained loyal to them so that they are achieving more makes sense but when you consider the customer loyalty that comes with this continuity, the reasoning is clear.
This approach is one that we encourage – an ongoing training programme supported by their mortgage club is something brokers should be using to their advantage, and that of their staff and clients.
When everyone is trying to keep their heads above water having the right support is essential. So whether it is a case of outsourcing, referring or pooling resources to invest in training I would think that finding the right support should be at the top of the list. Maybe then these brokers will find that their next top adviser is right under their nose.