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.