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Forward Thinking Magazine : August 2011
Convergence on the cards? With 64 per cent of financial planners and mortgage brokers planning to diversify their businesses by adding new services, will they ultimately converge? In biology, the term 'convergence' refers to the tendency of different species to develop similar characteristics in response to a set of environmental conditions. Could the same apply to financial planners and mortgage brokers? The two industries have been facing similar challenges, such as increased regulation and compliance, and uncertainty over commissions and fees. 34