Duncan Crocker, M.D., of Intermediary Distribution at L&G says that, of late, the part played by a network has shifted to provide integrated and calibrated sales training to mortgage businesses. L&G is offering extra measures in times of economic downturn. It provides training to further hone the skills for multiplying sales. Not only it continues his operations with existing partners; but, L&G attracts new distribution channel partners.
According to Duncan Crocker, L&G maintains a very broad gamut of distribution partnerships. Brokers, by aligning with L&G will have direct access to L&G’s Mortgage club, protection, GI and wealth management products.
When mortgage regulation came into effect in 2004, L&G’s mortgage network became operational. The company, by name L&G Partnership Services Ltd. offers compliance services, support system and sales training to mortgage advisors. L&G has one of the biggest mortgage clubs in the country. The number of members, crossing 10,000, the L&G mortgage club has the authority to deal with the lenders. As per Duncan, the club is a strategically critical outlet of the overall L&G package due to its links with the banking sector.
Interactive Financial Advisors, Inc. (IFA) provides advice on a range of financial investment products. Financial Advisors analyse client liabilities, including mortgages, credit cards, auto loans and many more aspects of money lending and suggest an optimal debt structure as trained by IFA-implemented Independent Advisor liability management programme. As per Rick Peterbok, president of IFA, people are hellbent upon owning a house, even if the desire is beyond their normal financial means. That is the exact point where Independent Advisor liability management programme, gives us the tools and resources to recommend a refinance loan.
The Financial Crossing Independent Advisor Programme provides the advisors the capability to decide about the mortgage plans. The advisors can fix the loan amount, fulfill, fund and close the transactions. They can help their clients directly and maintain control of client relations. Advisors can arrange loan for purchase of a new property, consolidation of debt and cash out analysis.
Rising mortgage defaults, foreclosures in addition to stagnation in the credit markets strengthen the case of liability management. According to the Federal Reserve Board, mortgage failures have increased by 92% - from $41 billion to $79 billion - almost doubled. Jacques Cureton, an advisor with IFA says that he has an effective method to attend to his client’s finances with an integrated process, thanks to Independent Advisor Programme.
IFA is based in Oakbrook, Illinois. It is a SEC-registered, fee-based advisor firm. The basic principle of “Someone who cares” philosophy guides this organization. It provides objective and comprehensive advisory services.
The company is headquartered in Palo Alto, California. It is the leading provider of liability management solutions. It presents objective and practical suggestions to optimize liabilities such as mortgages, home equity loans, car loans and credit cards. In 2008, Financial Crossing was rated among the nation’s top 50 service providers.
Some Financial planners are more interested in avoiding messy situations than finding out practical solutions to problems of the clients. They are not prepared to make a holistic appraisal of the financial needs of their clients. If they spend time and energy to analyse the client’s whole financial structure, they may be able to provide more practicable, and easy-to-operate solutions. Some Financial planners just ignore their client’s wishes. Of course, this is a very negligible percentage.