The words to use
Six moments that come up on ordinary mortgage cases, what each looks like on the file, and wording that raises the planning question without stepping outside your permissions.
Six moments that come up on ordinary mortgage cases, what each looks like on the file, and wording that raises the planning question without stepping outside your permissions.
Each moment below is something you will already see in the normal course of a case. The wording describes the situation and offers an introduction. It does not recommend a pension, an investment or a course of action outside mortgages and protection.
Treat the wording as a starting point. Before your firm uses it with clients, agree it with Equity & General so that everyone is working from the same approved version.
The client has just taken on a large commitment and is thinking about money. The moment is easy to miss, because everyone is focused on the keys.
Wording you can use“Now the purchase is done, it is a good point to look at the wider picture: how the mortgage fits with your pension and savings over the next twenty years. That is not something I advise on, but our planner does, and I can set up a conversation whenever suits you.”
A product transfer is often completed quickly and without a wider review. The client is already thinking about the next five years, which makes it a good point to ask what else has changed.
Wording you can use“While we are looking at the next rate, has anything else changed since you took this mortgage: income, family, pensions, savings? If it has, you can have half an hour with our planner as well as sorting the rate.”
The client usually asks whether to pay some of the mortgage off. That question contains an investment question.
Wording you can use“I can show you what overpaying would do to the mortgage. Whether that money is better used there or somewhere else is a different kind of advice, so before you decide, speak to our planner as well.”
A portfolio landlord may hold most of their wealth in property, with a retirement plan that depends on the portfolio.
Wording you can use“Your plan for later life seems to rest mostly on the properties. It would help to have someone look at how that sits alongside pensions and other savings, and what happens to it all for your family. That is outside what I advise on, but I can introduce you to someone who does.”
Retirement interest-only, equity release, or downsizing conversations usually sit alongside decisions about pensions and the estate.
Wording you can use“The borrowing side of this I can advise on. The decisions around your pension and what you leave to the family are closely connected. Our planner can look at them at the same time.”
A new mortgage after a separation often follows a pension sharing order, a change in income and a new estate plan, all at once.
Wording you can use“There is usually a lot changing at once after a separation, including pensions and your will. I will handle the mortgage. Our planner can look at the rest.”
If a client presses for your view on the pension or investment side, tell them it is a question for the planner.
The steps from noticing a client's situation to their first meeting with a planner, with the consent to take and the record to keep.
Read it
Running the protection review you already give, and handing the pension, estate and business questions it raises to a planner.
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Which past clients to contact first, what the data rules allow, how to word the message and what to record.
Read itYour firm keeps the mortgage and protection advice. Equity & General gives the pension, investment and estate planning advice, and a named partnership manager sets the arrangement up with you.