Describe your firm in a few sentences
B-advised is a financial advice firm with offices in Newcastle and Bolton. It was established in 2007 by David Thompson and me.
We provide advice at all key financial stages through our resolute team of 10 qualified advisers and two support staff.
Our whole-market exposure means we can help clients buy their first home, remortgage their current property or move to a new one.
Attitude is everything in this industry. Manage your time, maintain your knowledge and practise your skills
In addition, we guide them in investing their savings, be that for retirement/university funding, a deposit for a home, or by securing their income and family from the unwelcome blows that life can bring.
We strive to get our clients to reach their financial goals by recommending and using the best products and services. We build long-term client relationships by checking in and reviewing their situations regularly, providing advice that adapts to their changing circumstances.
What led you to become a broker?
I entered financial services in 1987, seeking a career change and a new challenge.
I began the journey by working with a home service company that offered a limited range of products to a diverse range of clients. I stayed with the same company in different capacities, growing and learning until 2004.
I then moved to a directly authorised firm along with David and, after a while, we decided to have a go at it ourselves.
The industry needs to reassure starters that the opportunities are there and that it is an industry of diverse longevity
In 2007, b-advised Ltd was formed.
What plans do you have for the future of your firm?
The future at b-advised is exciting, and growth is the focus. We are aiming to expand our team to accommodate the increasing demands of our new and existing clients. We want to continue to be able to provide them with the elevated level of service they expect and deserve.
We are keen to invest in technological support systems, providing clients with more control over their finances and making our administrative processes easier.
The regulator needs to promote the value of advice and give the public confidence in the fact it’s a regulated profession
What single thing could lenders do to improve brokers’ lives the most?
Communication is always key. Providers/lenders making themselves available, and having a good relationship with them and their business development managers, are a significant help.
It’s the firms with these strong communication skills that brokers value most.
Do not be shy to tell people what you can do. Stay positive and work at it
Providers/lenders supplying up-to-date, comprehensive sourcing systems and interfaces are also essential in timesaving for advisers and achieving outcomes for clients.
What advice do you have for a broker just starting out?
I believe that attitude is everything in this industry. Be professional, manage your time effectively, maintain your knowledge and practise your skills. Take the time to get to know your clients. I would also consider collaborating with a mentor.
Finally, do not be shy to tell people what you can do. Stay positive and work at it.
How can the industry encourage a new intake of brokers?
Demonstrate that it’s a career path with a future and try to improve the industry’s image as we are often tarred with the past, such as misselling scandals.
It’s the firms with strong communication skills that brokers value most
The regulator needs to promote the value of advice and give the public confidence in the fact it’s a regulated profession. The industry is so diverse in advice options and is often overlooked. It provides new challenges with regularity, so you will never get bored.
There are various routes, whether you start with a firm or jump in at the deep end and go it alone. You could start as a protection specialist and then branch into investments and pensions.
We build long-term client relationships by checking in and reviewing their situations regularly
Another great industry change has arisen since Covid. Clients are more inclined to conduct meetings using online platforms, widening the net and opening the door to opportunities further afield.
Overall, the industry needs to reassure starters that the opportunities are there and that it is an industry of diverse longevity.
If you would like your firm to be featured in Broker Focus, please email Mortgage Strategy reporter Becky Bellamy at: [email protected]
This article featured in the December 2022/January 2023 edition of MS.
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