The AMI October Mortgage Intermediary Census, which focused on new blood entering the market, indicated that of those firms that had recruited, over half had employed one adviser, while 33 per cent had added three or more new advisers to their ranks. Only 20 per cent of firms questioned expected to recruit additional mortgage advisers within the next six months, while 28 per cent revealed that they would be looking to actively recruit within the next 12 months.
When recruiting, 63 per cent of firms said possession of CeMAP or MAQ qualifications were essential, while 56 per cent admitted previous experience of giving mortgage advice was necessary.
Commenting on the findings, Rob Griffiths, associate director at AMI, said: “It seems that the majority of AMI member firms are happy with their staffing levels at present. More firms are looking to expand their adviser base in the year ahead and it is encouraging to see AMI members planning for a future where their services will be increasingly in demand.”
He added: “Our research clearly shows that firms have a preference for professionally qualified advisers with previous experience of giving mortgage advice. This is not to say that firms are not taking on unqualified advisers and training them, but these are less in demand than the qualified, experienced adviser. Advisers who have the necessary knowledge and experience are currently in a strong position but we also need to encourage new blood into the profession by highlighting its benefits and the opportunities available.”
Paul White, consultant at Belgravia Insurance Consultants, said: “I think a big part of the problem in attracting people to the industry is the uncertainty of remuneration and providing a steady stream of work. The public profile of mortgage advisers needs to be raised so clients value the work we do.”
