David Wressell, senior manager, client relationships, Twenty7tec
With a recent survey by leading mortgage technology provider Twenty7tec revealing that growing administration responsibilities were among the top business challenges named by advisers, how can better planning for calendar events such as interest rate rises help reduce some of the burden?
The survey, undertaken as part of the business’s new Elevate webinar series, follows the company’s publication of the groundbreaking report, ‘2025 Adviser Playbook: Insights for smarter 2025 planning’, which capitalised on Twenty7tec’s high-quality data capabilities to reveal detailed insights into the working patterns of advisers — and, crucially, where and how efficiency can be increased and business growth opportunities capitalised on.
If we know when we are going to be busiest, we can use this knowledge to better structure our working practices
“Advisers are busier than ever,” says Twenty7tec’s David Wressell, senior manager and host of the Elevate webinar series.
“They’re having to deal with an increasing number of issues and challenges, from Consumer Duty expectations and rapid rate and product changes through to shifting policies, higher expectations and greater consumer demand.
“However, if we know when we are going to be busiest, we can use this knowledge to better structure our working practices.”
More than 250 people were polled for the survey, with results showing widespread concern about managing an increasing workload.
“By employing a data-led approach to working practices, as our 2025 Adviser Playbook shows, advisers can regain control – bringing benefits to themselves and also their clients,” says Wressell.
Some of those practices include aligning technology with strategy, and focusing on the busiest periods for different client segments.
The ability to adapt to shifts in demand will be crucial in maintaining success
Another important area identified in the report where data-informed decisions could increase efficiency was scheduled events, such as Bank of England interest rate decisions — and how better preparation could help advisers anticipate trends and adjust strategies accordingly. This may seem like common sense; however, it can easily be forgotten during busy periods.
“We know in advance when interest rate meetings are held. Our data shows that decision days (Thursdays) see 5.23% more mortgage searches than the average Thursday,” says Wressell.
“Therefore, by knowing this, advisers can anticipate any potential surge ahead of the announcements, and employ measures such as allocating additional time and resources to handle, for example, the influx of remortgage searches on those days.
Advisers should stay informed about market trends and continuously monitor data
“Advisers can also pre-schedule time slots to prioritise client cases requiring immediate rate lock-ins or product switches, as well as using automated search tools to quickly identify the most competitive deals.”
In one example, Twenty7tec’s data shows that, in June 2023, 873 fewer products were available the week after the rate hike, a scenario that, Wressell says, if unprepared for, could put extra pressure on advisers.
“It’s key to be well positioned to respond to product availability volatility. Advisers should monitor product availability closely and act quickly to secure favourable deals for clients, and communicate early with them about potential product challenges whilst emphasising the importance of timely decisions.
“Our data shows that mortgage searches via our sourcing platform drop slightly two weeks before decisions but start picking up one week prior as anticipation builds. Advisers can take advantage of this quieter period two weeks before a decision to review client portfolios, proactively reach out to those likely to be impacted by rate changes and prepare tailored recommendations.
Decision days (Thursdays) see 5.23% more mortgage searches than the average Thursday
“One week prior, that focus can shift to engaging clients who are on the fence about remortgaging or refinancing, as this is when interest builds.”
With access to high-quality data helping to not only better shape working practices but also increase efficiency, in turn providing better client satisfaction, Wressell urges more advisers to adopt a data-led approach.
“Our advice to advisers is simple: focus on your data game and stay proactive with market intelligence. Rate decisions often create a whirlwind of activity compounded by external market factors.
“To combat this, advisers should stay informed about market trends and continuously monitor data around rate decisions to identify emerging patterns, and incorporate flexible strategies to adapt quickly to market fluctuations, ensuring that clients feel supported during uncertain times.”
By employing a data-led approach to working practices, as our 2025 Adviser Playbook shows, advisers can regain control
He says the insights provided by Twenty7tec over the last five years present “a roadmap for advisers to build on the successes from the past while staying agile in a constantly changing market”.
He adds: “The mortgage industry has seen record-breaking activity, and the ability to adapt to shifts in demand will be crucial in maintaining success.”
More information about Twenty7tec’s Elevate webinar series can be found at: bit.ly/4cNcrJJ
The report, ‘2025 Adviser Playbook: Insights for smarter 2025 planning’, is available to download free of charge at: bit.ly/3YADRfN
