While there's been much dialogue about the need for diversification in the mortgage broking industry, Ballast CEO Frank Paratore has said no one has sufficiently explained the nuts and bolts of diversification to brokers.
"There's been a lot of talk with regards to diversification and integration and what it means to brokers without the explanation of how it physically works," Paratore said.
In light of this, Paratore said Ballast has created a calculator that will show brokers the potential of a diversified financial services offering.
"Via our referral calculator, we can show you what you can potentially add to your business and to your bottom line," he said.
Paratore said the tool can also show brokers the practical aspect of how to work this offering into their business.
"[It] will take you through not only the referral perspective on different financial services aspects, but also how to integrate ownership of financial planning and ownership of sub-aggregation within the Ballast model," Paratore said.
For more on this, check out the full interview on Australian BrokerTV: http://www.brokernews.com.au/tv/the-big-story/