A new poll of mortgage advisors in the UK has found that close to one third of them see new technologies as the most important aspect to invest money in during 2022.
This Mortgage Solutions survey asked advisors what they considered to be the key strategic investment for their businesses, with technology being the choice for the largest percentage of them. The Covid-19 pandemic saw technology become much more central to the working lives of mortgage advisors, as they used it to stay in touch with their clients while following the social distancing rules, and that appears to have had a lasting effect on many of them.
Peter Brodnicki from Mortgage Advice Bureau told Mortgage Solutions that:
“Technology underpins all our plans as a business to enhance the customer and advisor experience, customer capture, nurture and distribution, and quality control.”
More than one quarter of the advisors that Mortgage Solutions spoke to for its survey said that generating new business leads would be the main aspect they would invest money in this year. A further 13% picked recruitment as the strategic investment priority, while for 9% it was staff training.
Improving their business administration was the choice for 4% of survey respondents, and 2% named investing in new office space. In total, 4% of the advisors taking part said they planned to split their investment across all of these areas.
Technology is certainly something younger advisors are very comfortable with, as many even use an online CeMAP training company to get the qualifications they need.