69% of brokers say advisers are failing specialist lending clients

94% of brokers agree that there is a moral obligation to make customers aware that there are specialist lending options available, even if the provider doesn’t want to offer the advice.

When asked, brokers said the main reason clients were being turned away without the proper information is concern over service levels for clients, the complexity of specialist lending deals and the process being too time-consuming.

The biggest concern with using a specialist distributor was concerns over the industry-wide service levels being given to their clients. Brokers also said they would prefer to deal directly with lenders as well as concerns over the volume of information required for certain specialist deals.

Michelle Westley, head of marketing at Brightstar, said: “Almost every broker (94%) believes there is a moral obligation to support clients and give them the information they need, even if the broker cannot provide it.

“Our survey also shows that seven in 10 brokers believe this is not happening. It lays bare the shocking failure of clients being left stranded without the right information to make key decisions. We understand the sensitivity from brokers about service levels, which is whey Brightstar has built its business on service.

“Specialist distributors such as Brightstar can step into the breach and provide solutions with wider access to products. Some argue the model of specialist distributors is dead. This research shows it is more important than ever to provide real choice.”