Financial planning software provider Coin has launched a mortgage module for Coin Office for financial advisers who are looking to diversify their revenues through offering mortgage broking services.
"A survey among Coin's IFA (independent financial adviser) clients in August 2010 revealed that nearly three out of four financial planning practices at that time had mortgage broking, or referral services to their clients, on their agendas," Macquarie Adviser Services head of product and technology for Coin and web Robert McCabe said.
"Those results indicated to us that there was a real need to provide a solution that would offer additional support to advisers as they diversified their business streams into what is a completely new area for them."
Coin Mortgage helps financial advisers to provide information to clients about different type of mortgages and includes a feature that helps them meet the new National Consumer Credit Protection requirements.
Through the product comparison functions, advisers can compare loan features, interest rates and fees, cost analysis based on a client's loan scenario and a snapshot of feature differences.
Coin Mortgage also searches for new information from product providers to keep advisers up to date.
