Advisers need a guide: TMA

Improved sales guides from insurers would be greatly appreciated by mortgage intermediaries, a survey by The Mortgage Alliance revealed.

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Responding to the survey in conjunction with insurer Cardif Pinnacle, 51 per cent of intermediaries said they were looking for better sales guides and handouts.

In addition to those requesting better sales guides, 45 per cent said they required more general insurance sales support through additional email updates incorporating hints, tips and sales ideas.

TMA also found advisers would welcome more regulatory support as well as contact from a business development manager to maximise general insurance selling opportunities.

Almost two in 10 (19 per cent) looked for increased face-to-face training with 12 per cent seeking better management information.

However a further 12 per cent said they did not require any additional support or assistance.

Phil Whitehouse, head of The Mortgage Alliance, said: "The results of this survey illustrate that advisers are looking for more support in a variety of areas and most are certainly areas that a good mortgage club can provide assistance and support in.

"The general insurance market offers an important extra revenue stream for advisers and understanding the full range of benefits offered by insurance products is an important aspect in reaping the full benefits offered in the sector."

Emma Tyler, senior consultant for Southend-based adviser OFM Group, said the group had always offered mortgage-related insurance such as term assurance, buildings and contents and mortgage payment protection insurance but was now looking at others areas including general insurance.

She said: "Advisers are definitely looking at all forms of diversification at the moment and that includes general insurance. It makes sense to look at the complete picture when assessing your clients' needs, as it benefits them and can provide additional revenue."

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