protection
Maximise your income
If the downturn taught us something, it is don’t put all your eggs in
one basket. So don’t ignore the protection gap
the dangers of having all your eggs opportunity to fully educate these clients
by
in one basnullt and the importance of on the importance of complementary
Ed Stuart-
Brown,
being able to derive income from a protection products, the need for which
head of
wider range of sources. null mortgage is heightened in light of the current
protection sales increase, these advisers will be in unpredictability of the economy.
sales, nulliends
prime position to tanull advantage of any nullisting clients also provide further
ovidentnull
mortgage-related protection sales. nulld opportunities. nullmortgaging was down
The mortgage market has started to see if the marnullt doesnnullt picnullup, they will 52nullin nulltober 200nullon 2008, with nullst
some encouraging signs of recovery, still have an alternative income stream, null,000 loans. This is the second lowest
hinting that 2010 may be a better year manullmising the income they receive monthly level since the nullnullbegan
for mortgage advisers. Mortgage lending from every client who walnull through the recording this data in 2002
nulliinull
. nullt some
has improved, with lenders offering more door. nullr those advisers who havennullt yet industry analysts suggest 2010 will see
choice over rates of interest and higher tanulln this step, the protection marnullt a healthier remortgage marnullt emerging.
loan-to-values. The number of 85nullnullTnull could provide them with an enullremely null revisiting these enullsting clients,
deals for enullmple has increased by 22null lucrative opportunity to help them boost advisers will also have the chance to
since nullcember 200null
nullnull
. null a result, their income. review their current nullancial portfolio null
nullst time buyer connullence is also on the for enullmple, a client who initially bought
up
nullinull
. OppOrtunities Mnullnullcan now be shown the real
nullspite these positive signs, many nullith the protection gap still estimated to benenulls of nullcome nullotection.
industry enullerts have urged cautionnull be null.nulltrillion, there is certainly a large
although mortgage sales may rise, this marnullt to be tapped. nulld not only does A less difficult sAle
will probably only be a slight increase this provide an attractive opportunity for nullt only are there clear avenues
on the low levels we enullerienced in advisers to generate additional income, emerging to sell protection, but also
200null null although 2010 is linullly to be a it simultaneously provides their clients advisers should nulld it less difnullult to
better year than 200null wenulle not going with a much more comprehensive close a sale. The economic downturn
to be returning to the heady days of the nullancial planning service, helping to will have prompted many people to
mortgage boom any time soon. nullnulls still build longer lasting relationships as a seriously rethinnullthe state of their
undoubtedly going to be a tough marnullt result. nullances and their long-term nullancial
for mortgage advisers to operate in and The increase in higher loan-to-value future. nullw more inclined to get to
win business. mortgage products should start to grips with their day-to-day nullances and
Many advisers, loonullng to diversify attract those nullst time buyers to the paying more serious attention to their
their income streams last year in marnullt who had been struggling to future nullancial plans, such as savings,
order to survive, started to sell more nulld the larger deposits previously protection and pensions, a new more
protection products. null the mortgage renullired. The return of these and other nullancially-savvy breed has emerged
marnullt does picnullup, itnulls important that nullst time buyers to the marnullt should from the recession. nullople should
these advisers donnullt revert to nullst selling provide a perfect opportunity to talnull therefore be more receptive to the need
mortgages alone. null the downturn has about protection. null new entrants, for protection.
taught us anything, it has highlighted alongside the mortgage, there is the null addition, the most-recent nullelfare
null Mortgage introducer marcnullnullnull
MI p32-33_0310.indd 2 23/02/2010 11:04
Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48