View more on these topics

Opportunity knocks for the canny brokers

Market forces are giving brokers access to a wider variety of distribution channels, confirming that opportunity can be found in adversity.

For example, training is now available for brokers in the fields of debt management, secured lending, utility services and equity release.

Optimistic brokers should be bringing themselves up-to-speed with potential business openings.

But while there are plenty of new customer service propositions available that afford significant income opportunities, they will only prove fruitful if brokers understand their customers and markets.

Brokers should be asking themselves whether they have the right foundations in place to tackle fresh product streams.

For example, do you have the detailed client information that will allow you to tackle these markets?

Also, are you looking into what support is available via networks and trade bodies?

These organisations must stand up and be counted on the basis of what they offer their members.

So while fresh opportunities exist, brokers will only benefit if they apply prudent business practices, plan ahead and seek support in making the most of them.

Recommended

January sees 15% decline in number of mortgage products

Trigold’s February Product Index shows the number of live mortgage products available to mortgage brokers dropped to 3,707 in January, a loss of 650 individual products compared with December 2008.

When Murray met Huggy

US actor and TV star Antonio Fargas, pictured here with Lending Strategy editor John Murray, recently took a break from appearing in a pantomime near London to film a snipp- et for the magazine’s slot at the Building Societies Association’s conference in May.

Thumbnail

Case study: administration — implementing a management log

Our client is a leading video game and publishing company best known for its console role-playing game franchises. The client provides a number of benefits, at varying levels and cost that attract a P11d liability. With the absence of a management log to track data for benefit movements, enormous administrative and therefore cost implications were occurring each year just to comply with P11d reporting requirements.

Newsletter

News and expert analysis straight to your inbox

Sign up