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FNS40815 Finance and Mortgage Broking

Published : 20-Oct,2021  |  Views : 10


What types of services can the client expect from your organisation What level of service can the client expect (e.g. responsiveness, timeframes, being kept informed, etc.) What can the client do if they are unhappy with the service provided What can the client do if they want to lodge a complaint What is the organisation commitment to the client if a complaint is lodged.


Develop strategic relationships: The loan arrangements for your case study clients have been settled and they have taken possession of their new premises. During the course of the application and settlement you have established good working relationships with the clients. How might the relationship be developed to benefit your business? 

Strategic relationship is always useful in developing mortgage business in an effective manner.  Due to the effective relationship with the clients Fergus George Newnam & Natalie Jane Carter, the loan application was granted in a timely manner.  In addition to this, it can be also inferred that the clients are able to disclose all their personal information that are required for the home application. Such kind of strategic relationship can be useful for a long-term purpose.  On the other hand, with the help of such relationships, one can easily meet the expectations of a client effectively. On the other hand, the settlement process also takes a shorter time if there is a good working relationship with the client (Claycomb and Martin 2013).Develop strategic relationships: What strategies might you put in place to help in developing the business relationship with your clients? 

Several strategies can be undertaken in order to develop strategic relationships with the clients.  In the initial stages, it is of great essence to create a friendly ambience with the client.  If the client is comfortable in the initial stages itself, then they can easily disclose personal information required for the loan process.  On the contrary, if the client fails to disclose any personal information, then, the loan process cannot be completed.  Apart from this, the client may be asked to fill up a questionnaire, just to know the mindset of the client. If the mindset of the client can be judged, then, it will be possible to take strategic steps to develop a effective relationship with the respective client (Tickle and Booth 2014).

Type of services clients can expect

Level of services

Unhappy clients

Commitment of the organization in case of complaint

1. Brokerage services


Taking appropriate feedback

Lower down the brokerage rate and resolving the grievances

2. Financial planning (Superannuation funds)

Regular monitoring the funds

Making them ensure that their funds are secured

Long term commitment to fulfill the goals to resolve the grievances

3. Loan application

Within the respective timeframe

Helping them throughout the process to regain their trust

Ensuring them that the loan application is completed within the stipulated time

4. Wealth management advice

Regular monitoring the funds

Making them ensure that their funds are secured

Long term commitment to fulfill the goals to resolve the grievances

5 Preparation of Credit proposal and disclosure document

Within the respective timeframe

Taking appropriate feedback

Ensuring them that the disclosure document is prepared within the time frame.

Table 1: Managing quality Client Services

(Source: Saunders and Cornett 2014)

Assessment Task 5b – Managing quality client service: Provide an overview of how you will address the needs of ‘premium’ clients (premium client strategy as part of the Client Service Plan). 

Criteria for identification of premium clients

Needs of the premium clients

Meeting the needs


Fund value

Proper utilization of their funds and a considerable amount of return

Proper evaluation of short term and long term needs and goals of the premium clients

Effective return on investment for the premium clients

Customer background (Their assets and liabilities)

Meeting all their respective goals and needs in a timely manner

Taking strategic steps to meet all short term and long term requirements of the clients

Taking proper steps so that all the requirements of the clients are met

Long-term repeat customers

Premium clients are generally risk takers

Ensuring all their questions and grievances are solved in a timely manner

Ensuring no clients are dissatisfied with the services


Claycomb, C. and Martin, C.L., 2013. Building customer relationships: an inventory of service providers’ objectives and practices. Journal of Services Marketing.

Goetsch, D.L. and Davis, S.B., 2014. Quality management for organizational excellence. Upper Saddle River, NJ: pearson.

Saunders, A. and Cornett, M.M., 2014. Financial institutions management. McGraw-Hill Education,.

Tickle, L. and Booth, H., 2014. The longevity prospects of Australian seniors: An evaluation of forecast method and outcome. Asia-Pacific Journal of Risk and Insurance, 8(2), pp.259-292.

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