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In The Spotlight
- Family debt advice business scoops Franchisee of the Year award
- Dundee-based brokerage wins Business of the Year award for debt solutions
- One advisor, two debt management referrals and over £600 commission
- Former mortgage packager tells of transition to award winning debt advisor
- EuroDebt and mortgageforce partnership goes from strength to strength
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Dundee-based brokerage wins Business of the Year award for debt solutions
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The Mortgage Finance Store has announced that it has just picked up an award for their diversification into the debt solutions market.
The Scottish brokerage was named Business of the Year (North) at the recent 2010 Debt Management Today Awards, held in association with leading debt management provider, EuroDebt.
The Mortgage Finance Store joined the EuroDebt Introducer Scheme last September and since then the firm has referred 41 debt solution cases to their regional debt advisor, Ross Walker.
Ross Walker, who has been a franchise owner for EuroDebt for over two years now, described The Mortgage Finance Store as a company open to exploring all types of revenue streams, embracing the opportunity to refer clients who they couldn’t help through remortgaging.
Mr Walker said: “As a former IFA, I already knew the managing director of The Mortgage Finance Store; in fact he helped me when I first started off selling insurance many years ago, and so it was simply a case of getting back in touch with a few old contacts.
According to the debt advisor, people struggling with their finances often cancel their life insurance policies to save a bit of money each month. This is the first red flag to brokers that their clients may be experiencing debt problems and might benefit from a face-to-face meeting with a debt advisor.
“After this meeting I can organise a debt solution suited to their circumstances, negotiate with their creditors, and reinstate their life insurance policies, which The Mortgage Finance Store takes care of,” Mr Walker continued.
“As introducers, they could put their clients on the right path with their finances and still earn a commission. It’s a money saver, as well as a money earner.”
Mike Connelly, managing director of The Mortgage Finance Store, said: “Winning this award is fantastic, and I suppose the reason behind our success with debt referrals is having a compatible model with EuroDebt – we offer our clients face-to-face solutions, which is exactly what is needed in debt advice. It’s a specialist area and needs specialist guidance from professionals, rather than people muddling through it on their own.
“We work closely with Ross and EuroDebt and I think maintaining that good communication and commitment is a key factor in us being awarded Business of the Year 2010.
“Generally, introducers need to open up in order to have a better understanding of debt management solutions. By managing the process well and helping clients through bad times, you’ll retain them through the good times as well.”
