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The pros and cons of being a broker-planner

by Jeremy Fisher4 minute read
Jeremy Fisher

As mortgage brokers, we want to offer our clients the best service, and an all-inclusive offering can seem like a good approach.

Brokers can also double as financial planners, but some feel that the roles should be performed by separate specialists.

It can seem like simple reasoning – the client is already discussing their financial circumstances with a mortgage broker, and if broker is also a financial planner, then it can all be done at the same time.

By offering multiple services, a broker can access multiple income streams and, in the case of mortgage broking and financial planning, there is some overlap in the work – particularly at the interview and document collection stages. The two industries also cross over in certain other areas, so it can be easier to keep up with developments in both sectors.


However, brokers develop expertise over time, and a smaller area of focus can enable a higher level of expertise. With a specific focus in just one area, such as residential home loans, a broker can become very good at their role – knowing the exact movements within that particular market and understanding how to best navigate it, focusing all of their attention on specialising in and mastering that one area.

Larger offices are more likely to have dedicated specialists, but for individual brokers, a decision will ultimately be made as to their area, or areas, of specialisation.

At 1st Street Home Loans, we have grown to have specialist financial planners, dedicated insurance agents and expert commercial lenders, as we feel that this is the best approach to service our clients. For sole brokers who would like to specialise but don’t have the in-house resources, it can be highly beneficial to develop a referral network with other specialists in a complimentary area to be able to provide a more encompassing service.

Ultimately, clients want the best outcome, and in the end, each broker will determine how they’ll best deliver the most suitable solution.


jeremy fisher

Jeremy Fisher

Jeremy Fisher


Jeremy Fisher, director and founder, 1st Street Home Loans


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