Marketing Innovation Forum and Orbiter have advocated more optimism in the market, following research findings released this week by both firms highlighting a lack of confidence and poor business levels among the IFA and mortgage broking community.
Orbiter, the free online sourcing system, recently polled its users on the volume of business they were receiving. Of 370 brokers who responded, the majority bring in fewer than 10 new cases a month at present.
Similarly, Marketing Innovation Forum revealed that around 65% of the 350 advisers who voted in their poll believe that mortgages distributed by advisers at the end of 2009 will constitute a maximum of 50% of total mortgage sales. By contrast, only 12% of advisers thought that 70% of mortgages would be distributed by advisers at year end
Derek McGuire, director of Marketing Innovation Forum said: “The pessimism expressed in our poll is understandable, especially alongside the lack of business which Orbiter highlights. But optimism is a more productive starting point; the more successful of our members seem to be those creating opportunities out of the adversity. We’re encouraged by our members who share advice and experiences of developing and reshaping businesses to seize the new opportunities of the changing marketplace.”
Orbiter’s research showed poor rates of new business coming in for most of the advisers polled, with fewer than 10 new cases a month received by 51% of respondents. Only 36% of the advisers polled are ‘one man bands,’ and 87% had been trading for over 3 years.
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