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Brokers undermining themselves: Bouris

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Australian Broker | 05 Jul 2011, 06:30 AM Agree 0
Brokers are undermining themselves unless they evolve to fill a holistic advisory role, YBR chairman Mark Bouris has said
  • Chris | 05 Jul 2011, 12:51 PM Agree 0
    Now you know. Selling insurance and selling superannuation is not product flogging. Only selling a mortgage is product flogging.
  • Garry | 05 Jul 2011, 12:56 PM Agree 0
    Fo once I totally agree with Mark. The modern broker must be much more than just a broker. We must evolve or perish. If the brokers cant evolve and gain further qualifications then they must align themselves with planners and accountants.
    I have aligned myself with a sound planning and accounting practice and I havent looked back.
  • Terry | 05 Jul 2011, 01:36 PM Agree 0
    So Mark,
    Australian mortgage brokers are at the root of the GFC because they provided a service, that being choice of various lenders compared to bank staff that flog of one brand. Interesting, this comment wouldn't be aimed at trying to recruit mortgage brokers for your own endeavours like YBR. I remind you of your last effort in finance re Wizard. hmm.
  • BaaBaa | 05 Jul 2011, 01:50 PM Agree 0
    completely agree with this. diversification of broker mortgage businesses through the development of alternative/complementary revenue streams is the only way forward in ensuring their survival in this tight mortgage market.
  • Mary | 05 Jul 2011, 04:18 PM Agree 0
    Too many brokers are complaining instead of taking the advise, its all good.
  • Diomedes | 05 Jul 2011, 05:39 PM Agree 0
    I dont agree with Mark, the only people that believe the client wants a one stop shop are the mortgage brokers and the finacial planners.
    It does not work, financial planners are being pushed/encourgae/recommended to become insurance brokers and accredited mortgage consultants because they dont have enought work. They are no longer being good finalcial planners. They are becoming bad finacial planners, bad insurance brokers and bad mortgage brokers because one person can not do any two or any three jobs well. I feel sorry for the mortgage brokers taht have spent money to become financial planners, how many of your clients actually want to pay you for finacial advice? This is a very grey and dangerouse area for mortgage brokers to be in.
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