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BUSINESS OPP Industry debate www.opp.org.uk
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JULY 2009
THE PANEL
Y
INDUSTR
Kevin Maddison, Michael Axelrod, Shameem Golamy, Nick Leach, Head of Hazel Barr, Training Lee Smith, Director, Stuart Law,
Chief Executive, Commercial Director, Head of Overseas the UK & Irish office, & Compliance Intelligent Chief Executive,
ROPUK Conti Financial Sales, Rightmove Pierre & Vacances Manager, Harlequin Partnership Assetz
Services Overseas Property
With over 20 years Currently reviewing Shameem’s role is Having worked With a background Formerly involved An active property
in financial services, Conti’s business to train, manage with a range of in mortgage in building and investor, Stuart
Kevin heads up one strategy to offer and motivate the introducers, Nick is insurance, Hazel’s managing over founded the Assetz
PEOPLE
of the most active a broader range overseas sales currently working role is to train 18,000 worldwide Group which
networks of IFAs of products and team at Rightmove with a third party Harlequin’s introducers for has worked with
specialising in the services, Michael Overseas as provider to build a introducer network DAMAC, Lee is IFA networks,
sale of overseas recently signed well as building network of IFAs and in compliance and now working with promoters, and
property. ROPUK an alliance to and developing referral partners is currently putting global introducers international agents
has won the OPP’s help 25,000 UK relationships across Europe for together a web on projects in to distribute its
Best Introducer intermediaries with a range of tourism developer training programme the Caribbean, S. own and selected
Award twice - in source international overseas property P&V’s property and a detailed America, N. Africa third party
TION
2007 and 2008. mortgages. companies. investment division. compliance manual. and Central Europe. developments.
DESTINA
The full package
Introducers of all types help developers to source qualified leads, but how do they add value and justify their
commissions? OPP asked some developers and introducers for their views
As developers review their Kevin Maddison said: “Some IFAs are we are working with a third party to of the Harlequin brand.”
sales distribution strategies, credible, and some are not, but they build our network. Usually, the best Often only referring because they
many are focusing on the are all part of the same regime and ones come to us and our biggest don’t have the time, knowledge
BUSINESS
value added by introducers and have the same badge of credibility. seller is a French IFA network. They or experience to offer a full sales
referral partners. Closely reviewing Reputation is the only way to sort sell pure investment to people who service, financial advisers already
those who are pro-active and adding the wheat from the chaff so research buy without emotion. All they need have a lot on their plate said Michael
the most value in their networks, must come before recruitment – not to know is that the numbers stack up Axelrod, Commercial Director of Conti
developers are asking whether lead the scatter-gun advertising approach. and we are solid, have integrity and Financial Services. “In the financial
generators are doing enough to It took us 22 months to sign up one are reputable.” services world, introducers have a
justify fees or commissions. of our best IFA partners, and another “Harlequin is only keen to work day job offering wealth management
To define the expectations of services, and tend to have a database
OPER
developers, and their introducers, Big distribution networks are the future but it’s some way off. of what are usually one off clients.
VEL
OPP gathered together a mixed panel Agents going direct to developers will be hard and rare. They The 80/20 rule applies again in that
of companies with specific insights need to be educated. The industry needs people who can qualify 20% are likely to come back for more
DE
into this relationship. Chaired by developers and agents. or to update their portfolio. Unless
Neil Mackwood of Wriglesworth Stuart Law, Assetz they are actively buying or selling
PR, the debate began by asking there’s not much business. This
how developers should source was 9 months. We want to work with those open to compliance means they are even more protective
introducers. with them because they don’t focus and promoting the right message,” of their clients and disinclined to
“It’s easy to find lots of people to solely on the rewards, they are more said the developer’s Training & cross-sell.”
sell but not to sell correctly ie looking interested in whether it’s good for Compliance Manager Hazel Barr, who
TING
beyond commission,” said Stuart their clients.” signs off all promotional material, Specialist services
Law, CEO of Assetz. “Short-term sales “In the process of weeding out monitors blogs, and gives feedback However, IFAs can offer specialist
ARKE
create long-term problems and this poor introducers, the 80/20 rule on web sites and even agent advice that developers need, said
M
usually means damage to your brand.” applies,” said Nick Leach, Head of seminars. “Training and education is Lee Smith, a director of Intelligent
Pointing out that IFAs may be UK & Ireland for Pierre & Vacances. key for us because our introducers Partnership. “IFAs are still the hot
regulated but they don’t all work in “When we initially began recruiting need to understand our hotel resort introducers of the moment because
the same way, ROPUK chief executive IFAs, it was like shooting fish, but now model, thus maintaining the integrity of SIPPs, but we also work with other
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