Working in mortgage and protection advice is an exciting and challenging career, especially if you run your own business. In this article, Onyi Ibeke, Mortgage and Protection Adviser with Tenet Financial Services (TFS) explains how she got where she is today. From starting out as a cashier in a bank to running her own successful mortgage advice business.
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I started my journey in the financial services industry in 2014, working at the Bank of Scotland as a cashier. The role title was ‘Customer Service Adviser’ because there was a lot more to it than exchanging money with customers! Customer Service Advisers have a role to play in identifying ways that the bank can help individual customers with different aspects of their finances.
From this role I moved on to become a Banking Adviser with TSB.
Becoming a Mortgage and Protection Adviser felt like a natural progression.
Mortgages are highly regulated so it is essential to take professional qualifications before you can do the job.
I did the Certificate in Mortgage and Protection (CeMAP) through the London Institute of Banking and Finance (LIBF) but you can also do it with the Chartered Insurance Institute (CII). I did CeMAP 1, 2 and 3 which covered all aspects of mortgages and financial protection.
Qualifications are important, but having experience of working with customers is also really valuable.
Having worked in the bank as a Banking Adviser, I already had some experience of sitting down with customers to discuss and plan their banking needs. This experience helped me build the foundations of becoming a mortgage and protection adviser.
Working at the bank was a good place for me to start because I understood things like how banking and advice was regulated and financial crime. I had also developed confidence in my ability to speak to clients face to face and on the phone.
A big part of the role is providing advice to clients who are looking for mortgage deals. From first-time buyers to portfolio landlords to existing home owners.
There are other intricacies to being a Mortgage and Protection Adviser. Generating the business is so important. You need a sustainable, consistent in-flow of clients.
I spend a lot of time making content to educate people. There’s a big gap in public knowledge on mortgages, so this is a really important part of the role.
In addition, we do a lot of networking. Networking, networking and more networking! It is so important. Mortgage and protection advice is a business of trust, so people need to know you to trust you.
Finally, a typical day could include training. Even though I am already qualified, the industry is highly regulated which means advisers must keep up to date with changes.
Being able to help someone. Being skilled and licensed to give advice is a valuable thing. I have seen myself literally be able to change peoples lives, finances and make a meaningful impact on their lives.
There are down days, but all in all, it is a very rewarding job.
If you are thinking about being a Mortgage and Protection Adviser you have to be passionate about what you do.
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For more information on the different paths to becoming a Self-employed Mortgage Adviser, including qualifications, exams and salary information, check out the Mortgage Adviser Role Profile.
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