lighthouse mortgage presentation
TRANSCRIPT
Making your money work harder
Opportunities for Professional Mortgage and Protection Advisers 2015
About us
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Lighthouse Mortgage and Protection Solutions is a national
advisory division of Lighthouse Group, an AIM-listed company
which provides mortgage, protection and financial advice to
personal and corporate clients via around 500 specialist advisers
located throughout the UK.
Lighthouse Group Set Up
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National
• Lighthouse Mortgage and Protection Solutions (LMPS)
• Lighthouse Financial Advice(LFA)
Specialist
• Lighthouse Carrwood IFA
• Lighthouse Group Employee Benefits
• Lighthouse +• Lighthouse Wealth
Network
• Lighthouse Advisory Services
Built to address common industry issues
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Not all client propositions are designed for the benefit of the client
Many advisers need more clients Some advisers want some support Technology and systems in Mortgage and Protection advice not
consistent or efficient Successful cross selling not evident Adviser skills and knowledge limited in some areas outside
lending
Building the LMPS Client Proposition
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Remove the headaches service – no High St or Internet required
Mortgage Loan Independent (choice F2F or remote)
Full Protection assessment and formal advice Category 1, Category 2, ASU/MPPI, PMI
Buildings and Contents Awarded a 5 star rating from Defaqto We chose to work with Uinsure
Why Uinsure?
Created a high quality B&C policy Defaqto 5 star – as good as is available Household named providers quote to ensure competitive
premiums Adviser can advise of refer Outcome is a product of the highest quality with a competitive
price.
Click to edit Master title style
How does our product compare?
Uinsure
John Lewis
More Than
Swinton
Easy to compare against ANY other policy on the market
Building the LMPS Client Proposition
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Remove the headaches service – no High St or Internet required
Mortgage Loan Independent (choice F2F or remote)
Full Protection assessment and formal advice Category 1, Category 2, ASU/MPPI, PMI
Buildings and Contents 5 star Defaqto product
Legal requirements referral Nearest, highest rated or cheapest
Why eConveyancer?
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Client can select nearest, best rated or cheapest solicitor
Real customer feedback and reviews
Helpful regular updates on progress
Building the LMPS Client Proposition
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Remove the headaches service – no High St or Internet required
Mortgage Loan Independent (choice F2F or remote)
Full Protection assessment and formal advice Category 1, Category 2, ASU/MPPI, PMI
Buildings and Contents 5 star Defaqto product
Legal requirements referral Nearest, highest rated or cheapest
Wills and LPA referral
Wills – Red Apple Law
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Cost to customer You will earnOnline Will (single) £72 £15Online Will (mirror) £120 £25Telephone Will (single) £138 £28.75Telephone Will (mirror) £264 £55Face 2 Face Will (single) £150 £31.25Face 2 Face Will (mirror) £300 £62.50
LPA – Red Apple Law
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Cost to customer You will earnOnline LPA (single) £210 £43.75Online LPA (mirror) £420 £87.50Telephone LPA (single) £325 £67.71Telephone LPA (mirror) £650 £135.42Face 2 Face LPA (single) £325 £67.71Face 2 Face LPA (mirror) £650 £135.42
Explaining the client proposition
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Delivering true holistic mortgage service
Starting point
Values
Lighthouse Mortgage and Protection Solutions – Our values
We firmly believe in responsible lending and ensure that any mortgage loan we arrange is suitable for our clients needs and is affordable both now and for the foreseeable future
We firmly believe that our clients should be protected against the devastating implications that could result from the loss of an income due to accident, redundancy, ill health or death
We firmly believe that insurance products such as Buildings & Contents insurance should be high quality products, provided by reputable companies that protect the things that are most important to our clients and represent good value for money. Not just be the cheapest product available
We firmly believe that our clients should hold an up to date Will to ensure that in the event of their death their estate is distributed in accordance with their wishes and not the rules of intestacy
We firmly believe that our advisers should be highly knowledgeable and skilful enabling them to deliver clear and helpful advice, support and service to their clients. Our minimum standards of adviser qualifications is higher than that required by the Financial Conduct Authority
We understand that the mortgage process can be complicated and detailed. Our advisers will do all they can to help you fully understand the process from end to end. If however at any time you feel that you need further explanation please do ask and we will be happy to help
Lighthouse Mortgage and Protection Solutions…… taking care of you!
Your home may be repossessed if you do not keep up repayments on a mortgage or other loans secured on it. Think carefully before securing other debts against your home.
Values
We firmly believe in responsible lending and ensure that any mortgage loan we arrange is suitable for our clients needs and is affordable both now and for the foreseeable future
We firmly believe that our clients should be protected against the devastating implications that could result from the loss of an income due to accident, redundancy, ill health or death
Values
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We firmly believe that insurance products such as Buildings & Contents insurance should be high quality products, provided by reputable companies that protect the things that are most important to our clients and represent good value for money. Not just be the cheapest product available
We firmly believe that our clients should hold an up to date Will to ensure that in the event of their death their estate is distributed in accordance with their wishes and not the rules of intestacy
Values
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We firmly believe that our advisers should be highly knowledgeable and skilful enabling them to deliver clear and helpful advice, support and service to their clients. Our minimum standards of adviser qualifications is higher than that required by the Financial Conduct Authority
We understand that the mortgage process can be complicated and detailed. Our advisers will do all they can to help you fully understand the process from end to end. If however at any time you feel that you need further explanation please do ask and we will be happy to help
With every Mortgage sale there are:
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9 further opportunities to help your client 9 further opportunities to generate income
Basic life protection IP CIC B&C ASU/MPPI Legal requirements PMI Will LPA
How to be the best you can be
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Specialise in Loan and Protection advice Protection advice masterclass
Opportunity and availability of a full range of ancillary products and services to help client
Refer where necessary B&C (advise or refer) Conveyancing Wills and LPAs PMI
The Intelliflo Mortgage system technology solution
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Technology solution – Not integrated
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B&C advise or refer ASU/MPPI advise Wills and LPAs refer Conveyancing and legal refer PMI refer
Adviser Proposition
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Independent for loan supported by NI broker desk Real lead generation Multiple earnings opportunities Self marketing support Supported environment (ADM and Coach) High quality ongoing training Remote education via CA Modern and fully integrated IT system Self employed flexibility Formal 2 way referral processes
Adviser Proposition
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Protection Independent with Quality Assured panels Local team meetings Competitive income share Career development for those who want it Positive and progressive environment Values led business
Significant new business opportunities
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Lighthouse Mortgage and Protection Solutions is the approved mortgage adviser for members of a number of employee organisations and affinity groups. We feature in the member benefits section of their website and regularly get editorial space and email opportunities.
We run more than 1200 client facing events every year meeting more than 12,000 affinity group members. We obtain their mortgage review dates and actively make contact at the right time.
Our Affinity Relations Managers and Business Development Director work with each organisation, at both a local and national level, to generate leads.
Preferred Mortgage advisers to members of:
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The Civil Service Motoring Association has 300,000 members
The Royal College of Nursing has 400,000 members
Parliament Hill has 900,000 members
The Association of School and College Leaders has 16,000 members
Lead generation
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It is our aim to generate 5 leads per adviser per month This is not a guarantee You will need to generate business from other sources Will depend on where the adviser lives and how far prepared to travel Some clients want remote advice (telephone/skype/email) so advisers who
can do this are likely to get more leads than those who don’t.
Training & support
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We understand that moving organisation can be daunting, which is why we try and make it as smooth and effective as possible.
Following your initial meeting with Lighthouse and assuming that you decide to proceed with your application, you will be introduced to your Adviser Development Manager (ADM) who will support you through the latter stages of the application process and the assessments that are necessary for us to demonstrate to the regulator that you are fit and proper and have the required skills and knowledge to deliver high quality advice
At the same time we will complete our regulated referencing obligations and, if successful, invite you to attend a fully-expensed, two day residential protection advice skills course at our Brighton head office
Training & support
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The LMPS protection advice skills course covers all core areas you need to understand in order to succeed as a Lighthouse mortgage and protection adviser.
We are passionate about protecting families , particularly when we have helped them to take on a mortgage, which is likely to be the largest debt that they will ever have.
This is a responsibility that we take very seriously indeed.
Training & support
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Adviser Development Managers (ADMs)
On joining Lighthouse Mortgage and Protection Solutions, you will be assigned a ADM who will guide you through the latter stages of your application and provide you with the support you need to become a successful adviser.
Once through your training your ADM will continue to provide you with advice and guidance on:
achieving sign off to Level 2 for the products areas for which you are authorised ensuring your CPD is up-to-date and meets regulatory requirements a training plan to meet your on-going need for knowledge and skills processing business efficiently using Lighthouse Fairway.
Training & support
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Compliance Support Team
Based in Stockport, this team will check all your cases for you when you start, ensuring that we can demonstrate to the FCA that your work is of a high standard in terms of the information you obtain about a client and how that supports the recommendations you make (Level 1). Once you have mastered these regulatory skills and requirements, (Level 2), then you will continue with remote file checking. You can of course still contact the team to discuss any specific case you may have or simply seek technical help and guidance from them.
Adviser T&Cs – first 12 months - supported by Coach
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70% share self generated 50% Lead generated £149 per month recharge
Regulatory fees PI cover PI excess protection
Provided free* Intelliflo licence Mortgage Brain licence
• *without charge first 12 months further is subject to turnover
LMPS will cover these costs for first 3 months
Adviser T&Cs – month 13 onward unsupported or Team Coach
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80% share self generated 60% Lead generated £149 per month recharge
Regulatory fees PI cover PI excess protection
Provided free* Intelliflo licence Mortgage Brain licence
• *without charge first 12 months further is subject to turnover
LMPS financials
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Monthly fees
P.I. insurance, FCA fees & FSCS levies heavily discounted to £149 per month.
3 month waiver for all new entrants to LMPS
4.3% gross commission held back on indemnity commission for clawback pot
Clawback pot released following cessation of contract and no further potential for liability
LMPS financials
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Comprehensive P.I.
Cover includes P.I. excess protection for £9k – only pay first £1k.
Protected excess on P.I. provided gross negligence, fraud and failure to follow company procedures is not evidenced.
P.I. cover continues into retirement, paid by Lighthouse i.e. nil run-off cover required.
LMPS financials
Usually:IO costs = £55 + VAT (£66.00 per month)Mortgage Brain £20 + VAT (£24.00)
However, the Lighthouse Fairway/Intelligent Office (IO) system integrated with Mortgage Brain, Mortgage Trading Exchange application functionality, Assureweb (quote and apply) software is currently paid for by LMPS for Advisers for their first 12 months. This continues to be paid for providing the adviser generates over £50,000 gross revenue per annum.
Basic items of stationery provided without charge:client proposition brochure, client agreements, letter headed paper, continuation paper, envelopes, business cards, presentation folders, report covers etc.
Reasons why advisers are joining Lighthouse Mortgage and Protection Solutions
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Excellent holistic client propositionMultiple earnings opportunities Independent for both Mortgages and ProtectionModern remote support that provides the technical and business development
training you need to get up and running quickly.Team Coach appointed (if needed) to give you a helping hand whenever you need it
and the practical support you need to develop your business locally.Adviser Development Manager to help demonstrate your competence and work with
you to create a personal development planSkills training to help you be the best you can be Market-leading, integrated business processing system ensures you spend less time on
administration and more time with clients.LMPS affinity group marketing programme generates real qualified client leads and the
self marketing pack gives you the tools you need for marketing in your local area.Pre-vetted “Quality Assured” panel for more complex protection contractsConsiderably less personal risk than being an Appointed Representative
What happens next?
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If we believe that you are right for Lighthouse and you believe that Lighthouse are right for you we will send you an application pack – We take great care to select high quality advisers so our application requirements are very detailed.
You should complete and return your application pack as a priority so we can complete our regulatory requirements in a timely manner.
Your ADM will arrange training material and any necessary assessment training/role plays.
HR complete referencing procedures. Sign-off from LMPS Board requested. Attend 4 day remote (dial in from home twice per day) technology training
sessions Attend LMPS skills development event in Brighton. Settle in and look after some clients
Making your money work harder www.lighthousefa.co.uk
Lighthouse Mortgage and Protection Solutions LimitedFairway House, 2 Hunns Mere Way
Woodingdean Business ParkBrighton
BN2 6AH
T: 08000 85 85 90F: 01273 523730
Whilst every effort has been made to show the information accurately, Lighthouse Mortgage and Protection Solutions and affiliated companies cannot be held liable for any errors or omissions, or for any financial losses, costs, expenses, or other adverse consequences encountered as a result of any reliance placed on information contained therein.
V1 14 2014-06-03 Recruitment