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Jessica Darnbrough
Brokers that diversify their core offering needn't worry about the state of the property market, one stakeholder has claimed.
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Speaking to The Adviser at the official opening of Yellow Brick Road's Alexandria branch last week, the company's chief executive officer Matt Lawler said brokers that diversify put themselves in a strong financial position and need not worry when the property market slumps.
"At Yellow Brick Road, we have concentrated on diversification. Brokers that can meet all of their clients financial needs not only retain those clients for longer, but they can also rest easy when the property market swings up or down," he said.
"By concentrating on meeting a client's holistic needs, the broker and borrower benefits."
Highlighting its commitment to diversification, Yellow Brick Road last week celebrated its first milestone with ALI Group.
Since the two companies formed an alliance in November 2011, 100 borrowers have selected YBR's loan protection policy.
The white labelled product is distributed by ALI Group and underwritten by MetLife.
ALI Group chief executive Ray Hair said he was pleased to achieve such early success with Yellow Brick Road.
"YBR chose to work exclusively with ALI with respect to loan protection as our products are an ideal fit with time poor, budget conscious borrowers who choose not to seek personal advice on their insurance needs at the time of their loan application," he said.
"Importantly, the message from our success with YBR is that the integration of loan protection products into a broker's business is complementary with the evolution of brokers becoming trusted professionals who provide a wider range of products and services to meet their clients' needs."
