JLM Mortgage Services has launched the first stage of its new ‘robo advice’ service.
The mortgage and protection network claims it is the first network to launch such a tool to its members.
The Virtual Adviser will allow member brokers to offer an online service to residential and buy-to-let customers.
This service will offer an initial search function , based on the customer providing basic information. This will give some indicative product details.
The client then has the option of providing further information online for a more tailored search and full mortgage illustration, or they can be transferred to speak to a JLM adviser.
The service also features a ‘live chat’ option.
JLM Mortgage Service’s director Rory Joseph says: “The team at JLM have been working on this launch for some time as part of enhancing our customer-facing proposition.
“For all the talk of the ‘robo advice’ threat to advisers we’re of the opinion that the industry needs to embrace the technology. Done correctly this provides a major opportunity for established firms – not just online technology firms who see the opportunity in our sector but have little mortgage advice experience.”
He said this new tool will help member firms provide “an all-encompassing service” to customers.
JLM Mortgage Services head of mortgage finance Sebastian Murphy adds: “We tend to think that with a financial commitment as big as a mortgage, most clients will not want to go through the whole process online, and they’ll want to speak to a real person in order to have full confidence in what they’re signing up to. But, that doesn’t mean they won’t want to engage online and get an initial idea of what is available to them.”
He said this was the start of providing more online tool and JLM would be continue to develop this proposition to ensure it works for both advisers and customers.