Searching for new clients and replacing lost income topped an RBS poll assessing mortgage brokers' most pressing concerns.
The survey conducted by Royal Bank of Scotland Intermediary Partners (RBS IP) found that finding new customers was the top issue for brokers, with 29% citing it their biggest concern.
Replacing lost income was the main worry for 26% of respondents.
Despite the ongoing debate over the potential ramifications of the Retail Distribution Review (RDR), only 13% said that dealing with further regulation was a worry.
Less than a fifth (18%) said their main concern was managing a move to a fee-based model. Learning about new markets and managing technology proved minor concerns, with just 1% of brokers singling out either issue.
Martin Reynolds, development director at PMS, says brokers should concentrate on retaining and servicing their existing clients rather than finding new ones.
"It would be better for brokers to maximise the potential from their existing database rather than finding new clients through referrals and through selling protection," he says.
"They need to understand and fulfill the needs of all their clients before looking elsewhere."
Grenville Turner, group chief executive at Countrywide, says existing clients were more likely to provide sources of income than new clients.
"I believe far too much time and effort is placed on trying to search for new customers who tend to be less loyal," he says.
"More business is done through clients who have transacted with the broker previously. It is always surprising how little support and retention is concentrated on servicing existing clients."
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