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MIp21_0110:MI 12 Jan 15/12/2009 14:13 Page 21
Lead generation | 21
Feel good
Leadbay’s MD, Grant Stevens,
believes the World Cup could
create a feel-good buzz in 2010
010 I think will be a positive one for number of people using the internet to compare forthcoming year, some sectors of the economy
people in Financial Services. We are financial products and look for advice, and this may continue to experience redundancies and
already starting to see the first signs of will continue throughout 2010, so lead genera- closing businesses and this, along with the
recovery, ahead of many other indus- tors will continue to have a ready supply of con- inevitable overspending that always happens at
tries, and I think this will continue sumers needing advice. Christmas, will find a larger number of people
throughout 2010. It won’t be a ‘v’ shaped tram- The full result of the FSA’s Mortgage Market with debts that they need help with.
poline recovery as predicted by the Government Review is hard to predict although I do think A major event of the upcoming year, will, of
earlier in the year, but a slow steady one. non-advised sales will be restricted which would course, be the general election. Whatever the
The mortgage industry is already buoyed by a be good for advisers in two ways. Obviously it outcome, public spending will need to be cut
little more positive activity to finish off 2009 encourages consumers to seek proper advice but significantly to pay for the money pumped into
with more competitive products and five con- I think it will also bring the regulatory spotlight the banks and the economy as a whole this year.
secutive months’ increase in house prices. onto the internet and especially sites that have We think this will have two effects: it will
I think we will see an increasing number of the potential to support a non-advised sale propel some people to look at their mortgage
mortgage products come back to the market, whilst inadvertently giving advice. This could and other finances more closely so we will have
and LTVs gradually creep upwards. The real mean many more people are referred for profes- an increase in the number of people looking for
trigger to this will be more competition. sional financial advice rather than making a advice either side of the general election.
Kensington’s welcome return to providing decision based on a comparison site. Beforehand this is likely to happen after the
mortgages again, may be the start of several Some former mortgage brokers have moved budget, and then in the month following the
other lenders returning to the market. Also, the into pension and annuity advice. Once people election as people consider what implications it
FSA has reputedly had ten firms apply for bank- tire of the recession and credit crunch, the pen- will have for them.
ing licenses this year, and they can take six to sions crisis will become headline news. As As public spending cuts start to bite later in
twelve months to grant, so expect a few more unemployment rises and more people are the year, it could again increase the number of
tentative returns by lenders in the first half of forced into premature retirement with inade- redundancies, people struggling with money
the year. quate provision and little understanding of and the number of people in debt may rise
I don’t expect criteria to ease up immediately “Open Market Options” and “Impaired Health again. By the latter half of the year, with the new
though, so mortgages still won’t be easy to Annuities”, more people will be looking for lenders in place however, we expect slightly
place, but as most people left in the market have advice online so expect lead generators to help more creative mortgages to return, with more
proved this year, advisers can earn more money you tap into this market. flexible underwriting.
on ancillary sales than they will on mortgages Also expect to see the types of lead change: The other significant event of the year will
alone. The mortgage is still a good way in to advisers increasingly want lead generators to be the world cup. Not something that will
talk to the customer, but cross sales such as life provide them with added value rather than just directly affect Financial Services although one
assurance, general insurance, income protection a set of data, and many advisers are prepared to can expect some distractions from business
and even wills add up to make overall cases pay more for a more bespoke lead where they during June and July. A good run by England
sizes more profitable. know the client requires exactly what they can will create a feel good buzz but also expect to
The supply of new customers will also offer. In a continual striving to provide exactly see clients increasing their debt as the appetite
increase. In January and February there is usu- what advisers need, lead generators such as for watching Beckham and co. on a big HD
ally a surge of new customers as people resolve Leadbay will adapt in line with your needs. screen proves too much to resist.
over Christmas to get their finances sorted, We expect to see a big upswing in the num- So, challenges ahead for us all. But neverthe-
move house or remortgage. Over the last few ber of people looking for debt advice. While we less a year in which we stop looking at what has
years we have seen an inexorable rise in the don’t expect interest rates to rise much over the been and start to focus on the future. January 2010 Mortgage Introducer
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