Technology was at the forefront of discussion at the MAB conference in Leicester today, as advisers learned how innovation and new developments would impact their businesses.
In his keynote speech at the annual Mortgage Advice Bureau (MAB) conference, CEO Peter Brodnicki outlined his strategy for technology and innovation by saying: It’s not about out with the old and in with the new, it’s about the very best of the old and the very best of the new.
He added that the firm has been hiring extra expertise in the best individuals, as Mortgage Solutions exclusively reported yesterday, with Emma Hollingworth recruited as mortgage proposition director and Andy Walton as protection proposition director.
The firm’s CEO said advisers will see some downward pressure on fees from digital and telephone competitors, with customers paying a lower fee for less or more arms-length engagement. Firms were advised to consider offering their services across all channels: face to face, telephony and even execution-only. Telephony will grow fastest, added Brodnicki.
The programme’s technology theme continued as Brodnicki listed a series of changes likely to have the most impact on intermediary working practices.
On lead technology, Brodnicki said brokers will be able to engage with customers sooner and establish a deeper long-term relationship. In the overall application and fact finding process, brokers will see less and less paperwork, he added.
