MortgageStream has called on all brokers to “ruthlessly cross-examine” their database of customers to help them generate new business opportunities.
It is advocating the use of case management systems in order to achieve this.
It says that technology exists for brokers to be far more aggressive in looking for income opportunities from their existing client bank. Sophisticated case management systems can offer a variety of tools that enable brokers to identity clients who have not been sold supporting products.
Paul Holden, sales director at MortgageStream, said: “A mortgage firm’s own database presents myriad opportunities for brokers to generate new business. Many brokers are sitting on an absolute goldmine of sales leads from clients they have helped in the past. In the current climate of gloom about the housing market I’m in no doubt that customers will be impressed and grateful if their mortgage adviser is proactively looking to conduct a review of their financial situation.
“Giving advice on mortgages is just one string in the bow and any brokers overlooking the provision of ancillary insurance products risk potential income being poached by the lender or other advisers. Under TCF rules, brokers should be advising clients on all aspects of securing finance on a house and that also includes added insurance products.
“There are golden opportunities to be had if brokers look closely enough at their files.”