Networks 'must evolve' to meet adviser needs

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Mortgage networks will have to evolve their business models to help members through the economic downturn, according to Legal & General (L&G).

Brokers increasingly require additional training support, along with enhanced protection and general insurance offerings, to weather the credit crunch, according to the firm. It says network members also require training support to generate additional sales by revisiting old clients whose needs may have changed, and to actively pursue new clients. The boom in mortgage lending, seen over the past decade, enabled many firms to tap a ready supply of customers, but the impact of the credit crunch means brokers will have to work harder to secure custom. Duncan Crocker, managing director of in...

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