my industry is getting some good pr again. worth a read
What would you suggest instead MB? Fixed fee? What if the person don’t endup taking the loan you organised?
MB, had you mentioned moving to a fee based model a while back anyway?
To be honest I don’t think people would pay high enough fees to make the process viable. At the moment people don’t pay anything. Indirectly they do but you just don’t realise that. It’s very hard to move people from a non-paying model to one in which they pay thousands for the same thing - something which you could ultimately do yourself if you had the time and inclination. Maybe I’m overstating the case.
I reckon it’ll have to move to an automated online business, much in the same way as Insurance Brokers have (123.ie, etc), simply for economies of scale.
+1
very good idea.
If the lending institutions were obliged to pay the same fixed fee direct to the arranging broker then many of the problems would be fixed and the consumer would not notice any difference.
There is no reason why the broker shouldn’t be paid a fixed fee, s/he is after all introducing a customer to a lending institution and providing a service to the consumer.
It’s not the only thing they should get rid of. Throw in rent supplements, property based tax reliefs and incentives, mortgage relief…
Is that because it’s all free online? No commisions, no fees? The ‘people’ who set up the web site do it out of the goodness of their hearts? 
123.ie earn a commision from insurance companies! (And, I wouldn’t be surprised to discover that they only broker for insurance companies that pay a commision, but that’s just speculation on my part.)
And, the process is not fully automated. The quote may be, but for some types of insurance, e.g. life, there’s a heap of legwork after that.
I thought it was somewhat obvious that that was not what I meant, or that anyone would mean that.
You used to have Life and Pensions / Insurance Brokers peppered across the country. Online versions have taken a large chunk of this business and the trend is only going to go one way. That there are economies of scale through doing it online rather than having an office in every in-house, out-house and dog-house the length and breath of the country is obvious to anyone with eyes to see.
MOD Edit: For trolling.
+2 i think your right
Most people dont know what they need when it comes to protecting themselves.
Most people dont want to pay for advice (this is Ireland it should be free)
Most people are stupid (have a look around you to see the shit we’re in) and before anybody responds it was de gubberment remember people voted them in and the old saying you get who you vote for.
Most brokers dont actually provide independent advice because they are not licensed to do so.
My attitude is you dont work for free so why should I? I can can provide independent advice and a service and Im not a machine you can ask me questions, its your choice. Do it yourself or pay.
123.ie are a tied agent iirc.
they are a tied agent who only deal with one insurance company