Advisors urged to use social media to tackle frauds

September 22, 2024 by Heidi

Mortgage Advisors

Mortgage advisors may be sacrificing a lot of business by failing to set up profiles on social media, according to a woman who works as an advisor alongside a public relations specialist.

Serena Smith is an advisor who also owns the Brand That Broker PR firm. At the launch of this company, she stated that a presence on social media was invaluable for mortgage advisors. She pointed out that it provided them with a platform to expose people who are trading in bogus advice – so called ‘finfluencers’. In doing so, they could reveal their own genuine expertise and qualifications, winning new clients in the process.

It is with this idea in mind that she has set up Brand That Broker. She will run the company alongside co-founder Rachel Bayley, who comes from a PR background. The aim of the business is to teach mortgage advisors how to build their own unique digital brands.

In an interview with Mortgage Solutions, Smith stated that their experience of the industry had led them to create the company. Then she went on by saying:

“It is clear, not just from statistics but also personal experience, that many UK mortgage brokers and their wider firms do not utilise social media or their personal brands effectively to boost their network, sales and future client pipeline.”

There is certainly room for mortgage advisors to emphasise their CeMAP training on social media. Doing this can help to separate themselves from people who offer financial advice without the necessary qualifications.