My Vitality
I have been working as a Mortgage Broker within Financial Advice businesses for over 10 years and as such I have been very focused on supporting the client relationship by providing ongoing lending advice.
One important point of difference here at Lydian Finance is that we really are a one-stop shop. We have financial advisors and brokers who work together to ensure that the best outcome is achieved for our clients. We report ‘in house’ on each one of our clients’ individual needs.
In the early days, a simple review of interest rate, update of the property value and cleanse of the data in our CRM was done for each client. Fast forward to today, we have evolved the review service to add in servicing calculations, loan to value ratio and credit score and we have given it the name "My Vitality”.
Capturing and collecting current loan and property information is paramount to preparing this document. Its "at a glance" advantage makes it easy for clients to receive a snapshot of their credit health.
The "My Vitality" focuses on the 4 key drivers of credit:
- Loan to Value Ratio/Equity
- Affordability/Servicing
- A comparison of interest rate v the best rates available today
- Credit Score
An interest rate review is also part of the process.
The overall process allows the client, Financial Planner and Mortgage Broker to have a goals-based conversation and implement simple strategies to optimise their financial position.
The ultimate goals of these discussions are:
- Repay loans as quickly as possible
- Borrow to invest
- Have cashflow certainty
- Upgrade the family home
- Clean up credit cards and personal loans
- Get a better interest rate
The My Vitality report gives the partnerships within this network an appropriate advice document with which to work. Working in partnership with the Financial Planning Community we value the advice process and your client relationships.
If you are looking at adding lending into your advice process and wish to work in Partnership, Lydian might be a good fit for your business. The process will allow you to seamlessly plug in the whole debt advice/review piece into your business. Working in partnership with the Financial Planning Community, we value the advice process and your client relationship.
Cheers,
Chris Booth
CEO, Lydian Financial Services