MI_10-11_support.qxd 27/2/09 11:06 Page 2
10 | Support
Friend or foe?
You be the
judge
Prosperity makes friends; adversity tries
them. Alan Dring looks at the support
brokers are getting – or not getting…
W
hen the stakes are high are being supported by their networks, trade Criticism of AMI
and things go wrong we associations and software providers. All this I have heard criticism of AMI by its members
instinctively look to negative activity keeps their eye off the ball who believe that they are aligned too closely
someone to blame. I do and helps little in the fight for survival with the lenders and do not appear to be
not think that too many In this article I will attempt to put into per- working for the benefit of its members. I see
of us were totally con- spective some of the positive things that the little substance in this argument and have to
vinced by the ‘mea brokers friends are doing to help, like the ini- say that such a view may highlight the igno-
culpa’ statements of the HBOS and RBS ex tiatives taken by lead generation companies to rance that may be out there regarding the pur-
bosses in front of the Treasury Committee in help brokers diversify into new markets and pose of AMI and other support groups. In
February but their statements will have been the views held by some that such as AMI are times of plenty it is easy for everybody to join
seen by many involved in giving financial working closer with lenders than they are with groups that look to give them kudos or status
advice and support as exonerating their own their fee paying members. as the fee is modest but when in difficult times
actions. I have often asked myself if the broker the purse strings are tightened brokers will
We do live in a blame society and over the industry is getting the support it desperately question their value and if you are ignorant of
weeks since Christmas, not surprisingly, I have needs from their networks and trade bodies what the trade body is about there is a tenden-
heard many brokers blaming the government and I have to say that if the brokers have cy to blame them for everything and that
and lenders for the situation they are in. I done their homework and addressed their often translates into loss of business.
have heard few blaming their own lack of business needs in the form of business plan- Nick Baxter of Mortgage Promotions had
activity when it was evident that serious mar- ning then there is every reason to believe that this to say about what AMI is about: “It is
ket changes were upon them as early as the excellent support is out there. It has to be said often difficult when the product being bought
summer of 2007. however that if you do not have a business is not something that is a physical thing. AMI
plan and do not really know what help you falls into this camp and I can, therefore
Support want it is not surprising that you consequ- understand why some brokers might perceive
As the recession bites the blame spreads and ently have a tendency to blame others for that they do not provide value for money.
brokers have now started to look at how they your own failings. However, this could not be further from the
March 2009 Mortgage Introducer
www.mortgageintroducer.com
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