By investing in new recruits this rapidly expanding mortgage broker is on track to reach its vision of becoming the largest broker in Scotland.
In 2016 one of Scotland’s leading mortgage brokers, Clear Mortgage Solutions, entered into a joint venture with Mortgage Advice Bureau (MAB) to form Mortgage Advice Bureau Scotland (MAB Scotland).
Following this period of change the business rapidly expanded and MAB Scotland made the decision to invest in training its people by creating a 13-week induction programme for new mortgage advisers. The aim was for new advisers to double the average weekly production of business and this has predominantly been achieved with 15 advisers bringing in £150,000 profit during their initial 13-week training period.
Mortgage Advice Bureau Scotland
Date 2018
Region Scotland
Size 50-249 employees
Sector Finance
week induction programme
%
retention rate of trained brokers
new brokers taking training
£k profit during induction programme
Appointing a dedicated resource
Since that moment in 2016 the business’ turnover has quadrupled and the team has more than trebled.
In order to meet the company’s vision of becoming the biggest mortgage broker north of the border, MAB Scotland decided to overhaul its standard adviser induction training creating an indepth 13-week programme.
As Head of Operations, Greig Brown, explains: “We identified that by investing more time and offering more support to new advisers they would quickly achieve much better results. This means that they are more likely to reach their potential and become a top performing adviser in the business.”
The programme is split into two weeks of classroom-based training followed by 11 weeks working with clients and advisers, supported by more senior employees throughout the process.
Being partnered with a more experienced adviser used to happen later in the programme but this was adapted following feedback from attendees.
The training also caters for a wide range of learning styles and includes live system work, telephone role plays and video conferencing.
Recognising talent
MAB Scotland made the strategic decision to open the programme up to different groups including those who had been out of the industry for some time and existing employees wanting to become mortgage advisers. “There is so much talent out there including those who aren’t currently working as brokers,” says Brown. “We tailor the training depending on who is undertaking it and even bring people into the business to spend time with different teams to get to know how we operate before they begin their training.”
This route certainly worked well for one member of staff. Scott Inglis worked as an administrator for MAB Scotland before deciding that he wanted to become an adviser. During the 13-week induction programme he brought in almost £20,000 worth of business and is still the highest achieving trainee to-date. Inglis still works for the business managing some of their high net worth accounts.
MAB Scotland’s revised approach to training has been so effective that the business promoted Brown to Head of Operations and appointed Darren Polson as Senior Training & Performance Manager in 2018. Courses now take place every two months with the aim of 36 new advisers to be trained by the end of 2018. Retention rates are impressive with 100% of advisors still working for the business and the training programme is being rolled out across other teams. Four employees from the Mortgage Processing team have already undertaken a similar programme tailored to their requirements.
Alongside continuing to roll out the programme MAB Scotland is developing career pathways and opportunities across the business. As Brown explains: “We’re working with employees to understand their goals and planning with them how they can achieve this within the business. By investing in our people and looking at their skills, knowledge and competencies we hang on to our top talent and can continue to grow the business in line with our ambitious strategic vision.”
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