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Some brokers are hesitant to cross-sell because they are put off by the perceived complexity of offering more than just the humble home loan, CBA's executive general manager, third party and mobile banking Kathy Cummings has said.
But, speaking to The Adviser, Ms Cummings claimed that cross-selling is a vital part of the broking profession.
She said that brokers not cross-selling are doing themselves and their clients a great disservice.
"When you cross-sell other products to your client you are not only protecting them and their needs, but you are also protecting your ongoing relationship with the client."
Ms Cummings also said brokers that don't go that extra mile for their client will fail to retain that client long term.
Dropping standards won't help in competition wrestle - LJ Hooker Finance - Non-banks can be competitive on price and product innovation without sacrificing lending standards, LJ Hooker Finance has said.
Mortgage Choice extends diversification reach - Adding another string to its diversification bow, independently owned mortgage broker Mortgage Choice launched its first home brand consumer finance product at the 2011 Mortgage Choice National Conference last week.
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