Partners can make it easy to diversify

JASON BERRY SALES AND DIRECTOR SAFE&SECURE
JASON BERRY SALES AND DIRECTOR SAFE&SECURE

Always optimistic, I remain encouraged by opportunities still evident for brokers in our financial services marketplace.

While conditions remain difficult there are exciting solutions for brokers that can reduce costs and increase incomes.

Diversifying normally requires effort and money but becoming an introducer can reduce compliance responsibility and remove Financial Services Authority fees as well as professional indemnity costs.

When selecting a specialist partner it is crucial checks are made to ensure they are regulated, have traded profitably for some years, have experienced management and endorsements from either people you know or who are recognised in the industry but have no links with them.

This partner should undertake all aspects of the sales process including customer needs analysis, issuing of Initial Disclosure Documents and statement of needs, plus completing administration and commission payments.

As the customer experience will reflect on your recommendation it is also worth mystery shopping in advance to ensure the service mirrors your own values.

It is a massive leap of faith entrusting customer relationships to a third party. But taking an opportunity to get free sales support and administration back-up in areas where either effort is not commensurate to return or the activity is in a new business area makes perfect sense.