The Power of Protection Advisors in 2024

It's that time again...

Welcome back to another edition of my NRG Insights newsletter.?

This month, I’m zeroing in on a topic that's become crucial to forward-thinking mortgage brokerages – the value of hiring a protection-only advisor.

In a world where client needs are varied and complex, providing tailored, expert advice on protection products is becoming a necessity…more on this in a moment, but first…

In this issue, I’ve included:

• 7 Key Benefits of Hiring a ‘Protection Only’ Advisor for your Mortgage Brokerage: This piece is a must-read for any leader aiming to enhance their brokerage’s offerings.
• A podcast featuring Marcus Nanson and Dave Corbett.?
• A spotlight on Steph Phillips-James, celebrating her recent promotion and giving you a peek behind the scenes at NRG.?
• Links for those on the lookout for new roles

Whether you're exploring opportunities or eager to expand your team, April’s edition has got you covered.

So, let's get started…

Have you got yours yet…?

Are you on track with your earnings as a mortgage broker? Or are you curious about the right compensation for your team?

"The UK Mortgage Broker Salary Guide 2024" is the essential guide that provides detailed insights into the earning potential of mortgage brokers across the UK, from entry-level to top-tier positions.

?? Get Your Copy of The UK Mortgage Broker Salary Guide now

Before reading...

Don’t forget to subscribe, and if you’re seeking a new role, or are searching for new talent, please click on the appropriate link to book a call with me today.?

7 Benefits of Hiring a ‘Protection Only’ Advisor for your Mortgage Brokerage

Diversifying your service offerings is important for any forward-thinking mortgage brokerage.

Bringing a protection-only advisor into the mix is a smart, strategic enhancement, that can do exactly that.?

Protection only advisors are specialists that focus on essential protection products within mortgage brokerage and specialist lending companies.?

In this post, we'll highlight 7 undeniable benefits of integrating a protection-only advisor into your team.

Ready? Let's get started...

1. In-Depth Product Knowledge

Protection-only advisors live and breathe protection products.

They have a deep understanding of life insurance, critical illness cover, income protection, and more.

This expertise means they can offer your clients tailored, informed advice, and this translates into better protection for clients and peace of mind for everyone involved.

2. Keeping the Service In-House

Having a protection-only advisor means you keep more services under your roof.

This not only simplifies the process for your clients but also ensures that they receive expert advice tailored to their needs, directly from someone within your team.

It strengthens your offering and your relationship with clients, making your brokerage a comprehensive source for all their mortgage and protection needs.

3. Tailored Client Solutions

Each client's needs are unique.

A protection-only advisor excels in crafting bespoke solutions that match individual circumstances.

This personal touch enhances client satisfaction and strengthens their trust in your services.

Clients feel valued, knowing their protection is in expert hands.

4. Higher Sales Conversion Rates

Specialists in protection often see higher conversion rates.

This is because they are experts in identifying the right protection products for clients’ specific situations, leading to higher premiums and, ultimately, more revenue for your brokerage.

Their expertise and tailored advice result in more satisfied clients who are likely to invest in the recommended protection policies.

5. Competitive Edge

Offering specialised protection advice sets your brokerage apart.

In a crowded market, this can be a game-changer.

Clients seeking comprehensive financial advice will be drawn to your one-stop solution.

Your business becomes more attractive to potential clients, giving you an advantage.

6. Doing the Right Thing by the Customer

This is at the heart of what protection-only advisors bring to your team.

Their specialised knowledge allows them to offer the best possible advice, ensuring that clients are adequately protected.

This ethical approach not only benefits the client but also enhances your brokerage's reputation as a trustworthy and client-focused business.

7. More Revenue Opportunities

Specialisation often leads to success.

By successfully matching clients with the right protection policies, advisors can unlock new revenue streams through commissions.

This not only benefits the advisor but also contributes to the brokerage's overall financial health.

Conclusion

Integrating a protection-only advisor into your team is more than just an expansion of services. It's a strategic move that can enhance client relationships, streamline your operations, and open up new avenues for revenue.

Masters of the Craft - Dave Corbett - Specialist Protection Selling

In line with this edition's spotlight on protection advisors, our podcast segment features Dave Corbett , Head of Protection at Mortgage 1st , and his discussion with Marcus Nanson CeMAP on the 'Master of the Craft' podcast.

Known as "Uncle Albert" to those in the know, Dave's reputation in finance is built on a foundation of deep care for his clients.

Dave's in the business of "selling peace of mind" to individuals, families, and businesses throughout the UK, preparing them for any eventuality. This episode with Marcus Nanson offers insights, from nurturing client relations and engaging disinterested parties to the vital role of mentorship and going the extra mile for clients.

Get To Know - Steph Phillips-James

April marked the one year anniversary of Stephanie Phillips-James at NRG Resourcing and she was rewarded with a promotion to Senior Talent Manager.

Anybody who works with Steph, will know just how much she deserves it, but just in case you’re one of those who don’t, here’s a fun ‘get to you know’ feature with her:

• If you could have one superpower, what would it be?

Get candidates to answer the phone and just be honest with us PLEASE

• What would your warning label say if every person came with one?

Loud laugh - and I think this is what I could be famous for actually - it has got me in trouble many times during my life oops!?

• If you had to survive a zombie apocalypse, which three people would you choose to team up with, and why?

- Craig David so he can sing for me (he's my favourite)

- Joe Wicks so we can do daily workouts like the lockdown days

- Kev (my other half) so he can still cook my meals for me so I don't go hangry!

Last chance…

?? Get Your Copy of The UK Mortgage Broker Salary Guide Here!

What Next?

Thank you for reading! I’ll be back soon with the next edition.?

Don’t forget to subscribe, and if you’re seeking a new role, or are searching for new talent, please click on the appropriate link to book a call with me today.?