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Mortgage Broker News | 22 Sep 2016, 08:15 AM Agree 0
A recent study crunched the numbers on Canadian home buyer habits and the prevailing trend is that many aren’t dedicating enough time to that search
  • Ken | 22 Sep 2016, 12:35 PM Agree 0
    Speaking from experience as a manager with a Big 5 Bank, retired and now brokering the trust in going to their bank is misplaced. The one I worked with placed limited emphasis on actually training their sales staff (read advisors/financial service reps) in basic product knowledge, underwriting skills and why things are done the way they are in not only mortgages but all financial products they sold and put it on what scripts to use on which screen. If something didn't work within the prescribed script and response the staff are left hanging and the client is the one that suffers. As the experienced staff have enough and move on to other endeavours it leaves clients who are making one of the largest financial decisions in their lives to inexperienced staff who can't anticipate issues and are focused on selling whatever the flavour of the month is or what they are told to push, not necessarily whats best for the client.
    Average tenure is dropping fast and as a result so is the quality of the advice.

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