For more information specific to Insurance Professionals, Click Here.

For a list of case studies on how we have assisted our clients, Click here.

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Financial Planning: 

The same principle applies. “I can’t afford it” is no longer an acceptable excuse with your help. 

For more information specific to Financial Planning Professionals, Click Here.

For a list of case studies on how we have assisted our clients, Click here.

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Estate Planning/Wills and Trust:  

PROBATE. What an ugly word.  We try and help avoid this nasty situation by asking every client if a will and or trust is in place.   If not, (80% of them don’t) we refer them to an attorney that can do set this up for them for them. 

In conversations I have had with family planning attorneys, many of them recommend to their client, "If they are thinking of refinancing, do it now and not later. That way any estate maters will be properly noted and reflected.  It could cost you more in the future to accurately reflect the trust.”   

For a list of case studies on how we have assisted our clients, Click here.

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Attorneys: 

David Ward a well-respected marketing consultant for the legal profession recently received numerous emails with a common theme.  What many attorneys wanted to know was “tips on how to accelerate payment for services rendered, politely, while retaining the client and in the process not turning into a bill collector or pushing the client away.” 

His recommendation was to introduce a mortgage professional to the client for a debt restructuring refinance and in the process of the closing having the attorneys bill PAID IN FULL! 

Top professionals use mortgage lenders as a tool for their practice. Check out point number 4 below!  Having this type of relationship is not an option, it's a matter of economic survival!

For more information specific to Legal Professionals, Click Here

For a list of case studies on how we have assisted our clients, Click here.

2. Give your customer value, increase your referral potential.

What good is a database if it’s not being communicated with? 

By networking with another professional and introducing the new professional's products, services or solutions to the client base, the referring professional has created another excuse to market and “stay in the mind of” the client.  Our Preferred Partners find this helps maintains their hard earned client relationships.  Additionally, for those clients referred to us from our Preferred Partners, we help strengthen the Partner-Client relationship through our Client Retention Contact Program, which helps our Partners increase their monthly business & income.  To see how our Client Retention Contact Program helps our Preferred Partners grow their businesses, Click Here. 

An example:  A mortgage professional was introduced to a client from an Estate Planning Professional and the professional recommends that the client refinance and in the process have the loan documents accurately reflect “the new living trust” during the creation of the trust. 

This could save the client time and money from needing to do this once the trust is created.  A financial planner may also want to annually or semi-annually send out a joint marketing piece promoting a “debt evaluation check up.”  During a refinance market this is critical.

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3. Help your clients achieve their financial goals by maximizing their debt reduction potential.

Most financial planning professionals sell stocks, mutual funds, set up IRA’s or other retirement vehicles to assist their clients with planning for their retirement.  Most financial planners also get a  commission for services rendered per fund guidelines. This does vary from professional to professional and fund to fund. 

I don't know of any financial planning professional that wouldn't recommend reducing monthly cash-flow by replacing high car payments and or never ending, high interest credit card debt by refinancing and rolling credit debt into a mortgage.  Thereby converting non-deductible interest into a possible interest deduction. Increased monthly cash-flow should enable clients to to deposit those monies into their retirement account.  

Financial planning professionals need to maximize their client’s retirement planning potential!  

4. Protect your relationships.    

Recently a firm tele-marketed over 100,000 Legal, Financial, Taxation and Financial Planning firms across the country and one question they asked was; “in conversation with your clients does the topic of mortgage lending or refinancing ever come up” or “can refinancing be used as a tool for any of your clients needs?”  Two out of three responded, “YES.” 

They would then follow up with a second question: “Do you have a strong referral relationship with an existing lender or do you let the client select his or her own professional?”  NINE out of TEN respond; “I pretty much let the customer select their own lender.”  

Hopefully, one can understand that by not introducing the client to an associate for their other professional needs, the client has the opportunity to develop a relationship with a non-competing professional that may have a strong referral relationship with your competitor.  The professional that does not provide the referral solution for their client could be left behind or their services challenged by a competitor.  Having a trusted mortgage professional to refer your clients to, and to guard your relationship with them is not an option, it's a matter of economic survival!  

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Small Community Banks

Why are small community banks anxious to establish relationships with local mortgage brokers? 

If the community bank cannot provide a financial solution for their customer due to a limited supply of mortgage lending products, then that customer has to go to a competitor (possible another bank) for their solution.  If the customer goes to a Bank of America or Washington Mutual, those companies will solicit all of their checking and savings accounts to be moved. 

You wouldn't dream of referring your clients to a competitor or would you?  You might well be doing this, by not having a firm relationship with a mortgage broker.

A local mortgage broker is a safe solution because they do not provide checking and savings account services.  From the smaller banks point of view, establishing this referral relationship is not an option, it’s a matter of survival and protecting their existing relationships (deposits).  

I have heard stories of Financial Planners referring their customer to the large nationwide lenders with a presence in their markets.  Do these planners realize what a business risk this is?  Don’t they know that Washington Mutual, Bank of America, Citibank and the other major financial institutions have divisions that provide the same financial services the referring professional provides? 

If you are a non-lending professional reading this outline hopefully you can see the value in creating this type of referral environment and developing a strong professional relationship with a mortgage professional.

How Do You Select the Right Lender?

A common question is “how does one select the right lender?” 

Ask: How does this person conduct their business? Are they knowledgeable? Will my clients benefit from this relationship? How will my clients be treated? Will this person help me market my services? How will this be done?

A good mortgage broker does all of these things!

When we think of a lender, most consumers automatically think of “lowest rate.”  The lowest rate for a lender can probably be found on the Internet.  Just like the lowest rate for a stock trade or direct mutual fund investing can be found on the Internet.  Just like the lowest insurance premium can be found on the Internet.  Just like the family planning “do-it-yourself” solutions can be found on the Internet.  Eliminating the middleman always seems to be the least expensive route, but, be careful what you wish for, don’t eliminate yourself in the process. 

The best loan for a client, believe it or not, many times is not the lowest rate available. 

It’s always about matching the proper loan with the client’s life style or finding a loan that can accomplish a more important goal like retirement planning investment, adequately providing insurance protection for ones family, refinancing to make the IRS go away, providing conclusion to a drawn out nasty divorce, avoiding bankruptcy, etc. A successful mortgage professional doesn’t provide loans, they provide integrated financial solutions. 

The most important elements in selecting a lender are: