"Advisers can run down some ‘Safer Tracks’ of their own, setting themselves up for not just the immediate short-term but in key areas, establishing a very strong advisory foundation which can provide and deliver month after month. "
I think we might all agree the Olympics and Paralympics represent if not the, then certainly close to, the pinnacle of sporting excellence, and over the past month or so in Paris we have seen some incredible feats of dedication, skill, and determination from many thousands of athletes.
Such global events of course highlight the importance of reaching new heights and setting exceptional standards in a competitive arena, but while there are a small number fortunate enough to reach the podium and claim the medals on offer, we should also acknowledge those many more who have simply ‘taken part’ at these Games, although there is nothing simple about what it no doubt took to get there.
And while, in the world of later life lending, advisers might not be securing any ‘gold medals’ in the course of their work, they too are actively participating in order to secure positive outcomes for their clients primarily, but also their own businesses.
So, how best to do this? In a Consumer Duty era, how best to ensure you are firstly putting yourself in the best position to service clients, and then ensuring you have everything at your disposal in order to deliver and achieve in your professional setting?
We believe that, over the course of these summer/early Autumn weeks, advisers can run down some ‘Safer Tracks’ of their own, setting themselves up for not just the immediate short-term but in key areas, establishing a very strong advisory foundation which can provide and deliver month after month.
These ‘Safer Tracks’ focus on three key areas to either sprint or stroll down; they are lead generation, elevated learning, and enhanced sourcing, and advisers can elevate their practice, achieve outstanding results, and provide unparalleled service to their clients, by looking at what they currently do in these areas and what might be achievable.
First up, effective lead generation is crucial for expanding your client base and offering tailored solutions. Here’s how you can enhance your approach:
1. Utilise Advanced Tools: Leverage sophisticated tools like Air’s Navigator Tool to explore a wide range of mortgage products, including retirement interest-only (RIO) mortgages, mainstream options, and lifetime mortgages. This tool helps in assessing client eligibility and identifying suitable products based on client’s financial priorities and needs.
2. Foster Deeper Client Conversations: Use the insights gained from advanced tools to engage in more comprehensive discussions with both existing and potential clients. By understanding their specific needs, you can offer more personalised advice and uncover additional opportunities for assistance.
3. Ensure Alignment with Regulations: Incorporate compliance with Consumer Duty into your lead generation strategy. This means using tools that help you align with regulatory requirements, ensuring your recommendations are both appropriate and in the best interest of your clients.
Secondly, continuous learning is essential for staying competitive and offering the highest quality advice. To elevate your knowledge and skills:
1. Engage with Educational Resources: Take advantage of educational resources and training programs on offer from Air Academy. Whether through free CPD materials or more in-depth paid courses, these resources offer valuable insights into product knowledge, technical skills, and industry developments.
2. Explore Accredited Programs: Consider participating in accredited training programs that provide structured CPD and certifications. These programs offer comprehensive learning paths and ensure you stay updated with the latest industry standards and best practices.
3. Utilise Blended Learning: Incorporate blended learning approaches that combine online modules with practical applications. This method not only improves your knowledge but also helps you apply new skills in real-world scenarios, enhancing your ability to serve clients effectively.
Finally, optimising your sourcing process is key to finding the best solutions for your clients and advisers can do this seamlessly via Air Sourcing. Here’s how to enhance your sourcing capabilities:
1. Apply Affordability Filters: Use advanced affordability filters to uncover a broader range of lending options. These filters help identify products that accommodate various repayment capacities, ensuring you can offer solutions that meet your clients' financial situations.
2. Consider Health and Lifestyle Factors: Integrate health and lifestyle considerations into your sourcing process. Understanding how these factors impact lifetime mortgage terms allows you to tailor recommendations more precisely, potentially unlocking better terms and rates for your clients.
3. Enhance Product Comparisons: Utilise sourcing tools that compare multiple products based on your clients' unique profiles. This ensures that you can provide well-informed recommendations that align with their financial goals and preferences.
By focusing on securing better lead generation, elevating your learning, and accessing enhanced sourcing, you can significantly improve your practice and outcomes in the later life lending market. And, up until the 13th September, by accessing these resources within Air, you can earn up to £2,500 in reward points.
Utilising advanced tools and resources helps in offering tailored solutions and staying compliant with industry standards. Engaging in continuous professional development ensures you are well-equipped to meet the evolving needs of your clients. Hopefully, with these strategies and our support, advisers can match the exploits of those athletes we have all witnessed this summer, and deliver exceptional outcomes for your clients.
