'You can't make a wealth adviser from a mortgage broker': But they did

by Calida Smylie04 Mar 2014

“That’s a bit of intellectual property we’ve built up over a number of years where we will provide various levels of services to the branches, be it a fully outsourced option where we get a specialist to come in to work with clients; a mentoring option where we’ll stick with them and coach them but eventually let them give clients that advice themselves; and if they are competent, we’ll act as a support network for that branch and sit behind them with all that research and infrastructure that is required to give their clients great advice.”
He also said the ‘mum and dad’ suburban clients who come to YBR usually need a lower level of financial advice.

“A lot of the perceived complexity around financial planning and mortgages can be broken down. A lot of our clients have simple, basic needs that we can help them with.
“To become a financial adviser you don’t need to move into the most complex pieces of strategy and advice that financial planning can offer, you can move step by step and our model lets brokers move into advice in a timely way, and also a protected way, because they’ve got all our support behind them.”
Lawler’s advice to mortgage brokers wanting to move into financial planning is to find a good mentor.
“Choose a partner who will help guide and support you make that transition, because it doesn’t happen overnight, it can take month or even years before you are fully competent,” he said.
“But make no doubt about it, the person has to want to make the transition, and if they’ve got the will, we’ve got the resources and support to be able to help them through this process.”

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  • by Dennis Ennis 4/03/2014 2:58:19 PM

    smoke and mirrors. It's all wonderful right?

  • by Allan 4/03/2014 10:19:37 PM

    There are plenty of YBR branches hurting out there. Interview most of them and I think you'll find the truth..

  • by Pinnacle 17/05/2015 11:24:24 PM

    Ybr branches- here one day. Gone the next.