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Jessica Darnbrough
Brokers who want to generate new business opportunities in the current market, should contemplate operating under a branded business, one stakeholder has claimed.
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Speaking to The Adviser, MoneyQuest’s joint managing director Gill McLean said while there are plenty of very successful independent brokerages operating in the third party distribution space, some brokers need help from a national brand.
“Often, independent brokerages cannot generate the leads that a national brand can. They don’t have the same connection with borrowers,” she said.
“We have a national brand and a very strong online presence that brokers can use to their advantage.”
But while Ms McLean espoused the advantages of operating under a branded model, she was quick to dismiss any suggestions that there isn't a space for independent brokerages.
“There are plenty of very successful businesses out there that don’t operate under a brand and they don’t need to,” she said.
“We are not suggesting for one moment that everyone should be under a brand. What we are saying is that gradually as the industry evolves, we will see more brokers working under branded business models.
“I think the mortgage industry will head in the same direction as the real estate industry. A few years ago, there were a lot of boutique agencies. Now, there are just a few big brands. And while there is nothing wrong with being independent, often these businesses don’t have the same client cut-through that a large national brand does.”
