News Article:
Mortgage Brokers Embrace New Software for Debt Management
Mortgage Brokers to embrace cash flow modelling software
With the client’s increasing digital skills, there is an opportunity for Mortgage Brokers to embrace cash flow modelling software to demonstrate their recommended loans. While most Mortgage Brokers are not licensed to give financial advice, they can provide their clients with assistance in choosing the right loan to suit their personal financial situation.
To do this the broker can seek information from their clients about all their financial and social situations such as family dynamics, health, employment and their risk tolerance to debt.
From the information provided by the client, this information can be imported into a financial plan and the the broker can optimize the loan strategy for current and future loans.
The result is the production of an Advice Record. However, Mortgage Brokers may prefer to rename this document a Debt Management Report.
To retain clients, the broker could also have discussions about future loans that may be required to purchase real estate. Australians love investment real estate and for many having a portfolio of investment properties would be a high priority.
Using Advice Online, the broker can set up a long-term plan to demonstrate how the property portfolio may be added to without exposing the client to excessive debt.
With Advice Online, you can now deliver profitable advice to an enlarged client base.
In addition, the broker can use Excel Tools to demonstrate the following:
• Yearly Amortization Schedule
• Debt Reduction Schedules
• Snowballing Debt
• Loan Tracker
Mortgage Brokers should reach out to Advice Online to access their password protected Resources where several Demonstration Videos, including one on Debt Management are included.
– (Designer) Financial Advice Online
It will be those financial advisers who see the opportunity who will benefit most.
New Product
Financial Advice Online
Our new product, Financial Advice Online, has been designed for members of the Financial Services Industry who need a readymade customizable portal to provide digital financial advice.
The software creates a financial plan together with an advice document for your clients.
This product is ready for both the Australian and New Zealand market.