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Mortgage Broker News | 21 May 2013, 12:00 AM Agree 0
More and more industry professionals are becoming informal investment advisers in addition to brokering, helping clients better balance their lifestyles and finances.
  • Christopher | 21 May 2013, 09:28 AM Agree 0
    I'm just as uncomfortable with mortgage agents in general being money managers as I am with the kids in the banks providing mortgage advice.

    It takes years of experience and a good deal of study; informal or otherwise to properly advise a client of how they should manage their money.
  • Ron Butler | 21 May 2013, 10:29 AM Agree 0
    I am also very dubious of mortgage agents and brokers giving investment advise or predicting the future of rates.

    What Scott is suggesting is neither of those things. He is wisely illustrating the lost concepts of budgeting and thrift. Paying down your mortgage faster makes a lot more sense than $7.00 dollar latte purchases twice a day.
  • Paolo Di Petta | | 21 May 2013, 11:14 AM Agree 0
    @Christopher - Mortgages are just part of the bigger picture - all of the components of money management overlap and it's important to give them good financial advice if we expect them to be able to pay their mortgages.

    Scott's Starbucks example hits the nail on the head - be aware of your expenses and prioritize. I'd say paying down your home is substantially important than a daily latte.
  • Eric Putnam | 22 May 2013, 04:41 PM Agree 0
    In Australia many professionals are doing both the roles of traditional mortgage brokerage and financial planning. At Debt Coach Canada our team believes mortgage professionals can truly differentiate from their competition and generate more referrals by assisting their clients beyond just arranging a mortgage. For that reason we have scheduled an upcoming workshop in Toronto. You can learn more at
  • Christopher | 22 May 2013, 06:27 PM Agree 0
    I've been in financial services for 37 years and have held both a securities and insurance license. I've also been in tax planning for the past seven years in addition to having been a mortgage agent for over 15 years.

    It's the ones with little or no training that can unwittingly steer their clients in the wrong direction.
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