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For the majority of people, their home
investment is larger than their investment portfolio. The monthly
cost of home ownership is probably their major expense. The
Financial Advisor can minimize this expense by working with an
accredited Mortgage Broker. The monthly savings can then be invested
in a regular dollar cost averaging savings investment.
10 Good
reasons for using a Mortgage Broker
- Ensures that the cost of your
Client's home ownership is at the lowest possible price. A saving
of .5% in interest rate, over the life of a mortgage can save
$14,000 on a typical $150,000 mortgage. (after tax saving)
- The saving will provide dollar
cost averaging investment funds.
- Provides a valuable Client
service for full service Financial Advisors.
- Provides an urgent need to
review a Client's insurance needs.
- The more demanding "Know Your
Client" requirements provide an opportunity to record a Client's
mortgage renewal date and subsequently provide a valuable service.
(61% of consumers simply accept the interest rate offered by their
current Lender, a rate which is usually 1% higher than what a
Mortgage Broker can provide)
- A major bank will use the
mortgage renewal opportunity to promote other services, mortgage
insurance, investment services etc. in return for a better
interest rate ("tied selling" is not allowed - in theory).
- This service does not have to
encroach on the Financial Advisor's time and facilities :- With
the Client's permission, just pass on the contact telephone number
and the Broker will complete the transaction and provide the
feedback. Or b) The Client can complete the web site application.
- The more valuable the services
that a Financial Advisor can provide to the Client, the more
valuable the Financial Advisor becomes to the Client.
- The more valuable that a
Financial Advisor becomes to a Client and the more contact with
the Client, the more referable he/she becomes.
- You will be kept up to date on
the progress of the application & we are advisor friendly.
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