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Product 'myopia' affliction cured by diversification

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Australian Broker | 13 Apr 2012, 07:00 AM Agree 0
Yellow Brick Road chief Matt Lawler has warned brokers off a 'product myopic' stance that could leave clients without a full range of service
  • ozboy | 13 Apr 2012, 09:02 AM Agree 0
    Really?! Mr Lawler was the one who came out when at HomeSide saying brokers needed more education and now he is advocating less education spread amongst more diversified products. I believe that my clients are served best by experts in their chosen field so I refer to quality people who concentrate on their particular area of expertise not someone who has been taught to sell a particular product from a limited range supplied by my business partner. Different jobs and different mindsets shows that some people only parrot what they are told and can't follow what they believe.
  • QLD Broker | 13 Apr 2012, 10:19 AM Agree 0
    Mr Lawler is from a financial planning background when he worked at MLC before the NAB take over. NAB then made him move across to NAB Broker. He has little understanding of the brokeing space, but he does spin a good yarn. Don't be fooled by his comments but continue to build that picket fence for your clients and include all the services they might need and let the experts help them. I ensure that I am one of those pickets and help them with their finace needs and then when it comes to planning or insurance, I refer them on. Clients will look at you as a generalist rather than the professional you are if you follow Mr Lawlers thoughts.
  • Paul Davies | 13 Apr 2012, 10:48 AM Agree 0
    I think all these comments are viable. It does depend on the individual though. Not all clients like to be referred, or simply 'given' a product in house. It always comes down to the individual and how you can engage them in a non-threatening way (flogging a product) and meeting that need.
    As a shameless plug, Mortgage Shield offers both options. It comes down to the preference as some prefer a very simple solution (as many clients are well educated in this space), but others may want, and need a broader solution where referring the advice is appropriate.
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