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ISCOVER
Staff Reporter
The introduction of legislation should prompt brokers to change the way they refer to themselves to consumers, Homeloans' Tony Carn has said.
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Speaking to The Adviser, the non-bank’s general manager third party distribution Mr Carn said brokers should stop using the term “broker” and start embracing terms such as “adviser” or “mortgage planner”.
“NCCP has forced brokers to be a lot more than a professional loan shopper. To be successful in this market, brokers need to diversify their core services. As such, they should have a different name to reflect this evolution,” Mr Carn said.
“Mortgage brokers have outgrown the term ‘broker’. They should re-badge themselves to reflect their true and extended abilities.”
Mr Carn said as the broker proposition continues to evolve, the third party distribution channel becomes more important. Brokers can now help their clients meet all of their financial needs.
“With so much competition in the market, it is easy for clients to become confused. Brokers are in the perfect place to clear up the confusion and help clients find more than the best mortgage solution.”
