He added: "Those that specialise in a certain product area may well leave themselves vulnerable in uncertain times, whereas those that have supporting products are able to generate revenue through these as well as mortgages."
Mr White went on to say that technology had changed adviser businesses as a whole and would play a huge part in profit margins.
According to him, firms that have adapted to technology and used it wisely within their businesses — without having a detrimental impact on their client relationships — would see their profit margins prosper the most.
Mr White added: "The obvious difference between mortgage advisers and IFAs is that an IFA industry is completely fee driven, whereas the mortgage industry is still a mixture of commission plus fee based.
"A fee based model for mortgages would just add to the costs of a borrower, which would become unaffordable in an environment suffering from high property values."
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