Research shows lockdown boosted business for advisors

April 2, 2021 by Alan

Surveys and Statistics

A survey of mortgage advisors has revealed that the lockdown has brought business benefits to many, including improved efficiency levels and a rise in client numbers.

This survey was carried out by intelliflo and saw it ask advisors what changes to their business they have experienced in the year since the start of the pandemic and the first nationwide lockdown. In response, almost half of the mortgage advisors who took part – 48% – stated that this period had seen them attract more clients than they were before.

Over one third indicated that one reason why they have been able to win clients despite the restrictions is the adoption of technology. 38% told intelliflo that using tech had allowed them to help people needing advice about mortgage loans across the UK, showing how tech can widen the options for advisors.

Deploying tech to make their businesses more efficient was cited by many as the main improvement they have made during the past year. 65% said that this had helped their connection with staff, while 60% said it had enhanced their working relationships with clients.

Speaking to Financial Advisor, intelliflo CEO Nick Eatock said:

“When we spoke to advisors last year, they were understandably cautious and nervous of what lay ahead but, a year on, advisors have proved themselves to be resilient and quick at adapting to fit their customers’ needs.”

More of the mortgage advice sector appears to be moving online, with even CeMAP training courses now frequently studied in this way.