It’s certainly no secret that there is a real shortage of brokers in the mortgage market. Not only are numbers reducing as the broker population gets older, but the market lacks a concerted effort to backfill the talent pool and bring new blood into the industry. Add in those that change career and leave entirely and it means competition for the good quality brokersthat remain grows ever more fierce.
I’ve been around the mortgage market long enough to know that comings and goings are a regular occurrence, especially for brokerages. Whether it’s a personal decision to chase a new adventure or a fresh start, or perhaps a financial decision, it’s not uncommon to see brokers or managers change networks or move to another company.
IT’S THE WAY OF THE WORLD
I won’t pretend that Just Mortgages is any different – we too have seen brokers and managers leave to pursue new opportunities. We’ve also been on the receiving end too and welcomed some fantastic talent who have applied. It’s part and parcel of being a large firm in an ever-changing market and fast-paced industry. I have no problem with colleagues going elsewhere if that’s the right decision for them. If we do say goodbye to someone, they leave with my gratitude and my best wishes for their future – after all, we’re all colleagues no matter which team’s jersey they may wear.
Where I do take exception though is when a manager leaves us and on the way out, they say to us they won’t ‘tap up’ any of our advisers. However, they very quickly do the exact opposite. Not only is it hugely disappointing, it leads me to question what has happened to loyalty in some cases.
we all need to pull together to go out of our way to bring in bright new people into the industry
Perhaps, we should be flattered that brokers from across Just Mortgages are so desirable. We should also clearly celebrate the success of our tremendous academy programme, which continues to bring fantastic talent into the industry and sets them on a path to a successful career in advice. After all, a key industry hot potato is a lack of new advisers. As a result we all need to pull together to go out of our way to bring in bright new people into the industry.
Even though our academy is highly successful and brings in a healthy cohort of qualified mortgage brokers, the industry needs more. There needs to be an industry shift with people across the mortgage industry running similar initiatives. That way, we are all playing our part to bring in new talent to ensure the wellbeing of our industry – not only today but well into the future.
A successful academy programme can then lead into a comprehensive learning and development strategy, helping colleagues to maximise every opportunity and fulfil their full potential. There is a variety of routes available, such as going self-employed or moving into management. Through these routes, we can really unlock the talent we have and create outstanding advisers, as well as tremendous mentors, managers and business principals for future recruits.
While a former manager may reach out to offer what looks like a good deal, it’s so important for brokers to actually look at the bigger picture and the wider proposition on offer – making sure these opportunities for growth are available. We have welcomed back brokers who left because of a financial decision, only to discover that promises of support and both personal and professional development did not materialise.
My disappointment comes from managers trying to make moves on colleagues, despite choosing to tell us they definitely wouldn’t
Let me be clear – I’ll never begrudge somebody for making a decision they feel is right for them and their family, nor do I expect everyone to be a Just Mortgages ‘lifer’. Sometimes things change, life changes or it’s just the right time to take on a new challenge. My disappointment comes from managers trying to make moves on colleagues, despite choosing to tell us they definitely wouldn’t. Maybe it would just be better if they didn’t say anything at all!
Most of all though, it does absolutely nothing to help fix the wider issue of bringing new talent into the industry. We all need to pull together and put forward proactive measures to ensure we have a healthy pipeline of future stars joining the mortgage market. Not only is this vital to overall health and prosperity of the industry, but increasing competition is a tremendous way to ensure we are always offering the best service we possibly can to our customers.
