16th June '08 - Debt Management Plans to be Discussed
The GHL Group have announced that they are to convene a number of meetings between some of the major players in the mortgage, exchange bond, insurance and debt management plan industries.
For all who attend, including those from the debt management plan sector, much of the focus will be on how to manage the impact of the “credit crunch”.
One notable name that has confirmed it will be turning up is AXA. A spokesperson for the group, who will also deliver a presentation while it is in attendance, commented, “We will be covering off various initiatives including lead generation, maximising sales, and effective linking to protection. These areas are all intended to help brokers both survive and thrive by developing the skills and competencies to sell more Protection business in the future. The Learning & Development Modules developed by AXA Protection are intended to demonstrate commitment to the broker community by providing an added value service aimed at growing their business through increased protection sales.”
John Smith, marketing director with GHL, outlined some of the motivations behind the planned meetings. He said, “The credit crisis continues to carve its way across our industry and maximising any sale with the right advice is a must. The round tables are designed to help illustrate to our distribution that diversification along with clever marketing of additional services is key for survival in today’s turbulent environment.”
He added that debt management plans would be given strong focus in the discussions, saying, “By exploring additional revenue streams such as debt management solutions, brokers are able to maximise their profit potential while the mortgage market continues to correct itself. Expanding the scope of a broker’s skills and knowledge of new and existing products will help business to retain clients who may have gone elsewhere for these products.”