Capital City Finance and Mortgage Brokers - Management Assignment Help

Assignment Task:

Capital City Finance and Mortgage Brokers (CCF & MB)
George and Mildred are very happy with the way you service your clients and are sure that you are a good fit for the team. They now want you to turn your focus to your primary task, which is to assist in expanding the business by building relationships with selected real estate agents, accountants and legal firms through strategic alliances. They also want you to consider how CCF & MB can consolidate its relationships with its existing strategic partners.

• Let’s recap on what you already know about Capital City Finance and Mortgage Brokers (CCF & MB).
• It’s a family-owned business providing a range of mortgage and finance broking services to the business and private sectors, with experience in all facets of finance and insurance, providing expert advice covering a multitude of products and options existing within the market.
• CCF & MB specialises in home loans, commercial lending, business lending, personal and motor vehicle finance and insurance (life and general) and focuses on helping clients find the finance service suited to their individual circumstances. 

It provides its services through its association with the following partners:
•Australian Aggregators: a rising company within the aggregation business, with an extensive panel of residential and commercial lenders, and asset finance.
•ABC General Insurance: a boutique insurance company specialising in a full range of general insurances.
•XYZ Life: a small family-owned insurance brokerage specialising in the full range of life insurance products.
Based in the city, CCF & MB has the capacity to service clients from their office or anywhere at their clients’ convenience through its team of mobile brokers. 
CCF & MB does not hold a credit license but operates as a credit representative of Australian Aggregators.
Since its inception 13 years ago, CCF & MB has built a loan book of almost $1.2 billion and averages over $120 million in new loans annually.
CCF & MB’s vision is to be the mortgage and finance broker of choice in the greater metropolitan area.
CCF & MB’s mission statement is: ‘to operate professionally in accordance with legislation, our licence and professional standards’.
CCF & MB’s values are as follows:
•to act with honesty and integrity at all times
•to provide unbiased advice and conduct business, free from any conflict of interest 
•to maintain confidentiality in all dealings
•to meet all NCCP regulatory requirements
•to comply with all mortgage industry laws and regulations
•to ensure quality and efficiency in its loan processes.

Task 1 - Developing and nurturing relationships with clients, other professionals and third-party referrers
George and Mildred now require you to write a plan to assist in developing and nurturing relationships with clients, other professionals and third-party referrers.
The layout and content of your plan should address the following:
1.How CCF & MB’s policies and procedures and legislative, regulatory and professional codes of practice impact on developing and nurturing relationships.
2.How you would use CCF & MB’s social, business and ethical standards to develop and maintain positive relationships.
3.The importance of confidentiality and how you would maintain it in your dealings with colleagues, clients and other parties. 
4.How you would adjust your interpersonal style to the needs and situation of other parties.
5.How you would go about developing and maintaining business and professional networks and other relationships to benefit the organisation; and how you would use them to identify and cultivate relationships in order to promote and market the organisation.
6.How you could use and cooperate with other professionals and third parties to expand and enhance the reputation of the organisation, and to identify new and improved business practices.
7.How you would build referral business through appropriate communication channels, to find and secure new business relationships.
8.How you would identify referral needs and provide information about CCF & MB’s relevant products and services.
9.How you would secure interviews with referral business so that the needs of clients can be met.

Task 2 - Growing the business
Having considered how you would go about building and nurturing relationships, George and Mildred now require you to turn your attention to marketing and promoting CCF & MB’s business. This requires you to develop, implement, monitor and adjust a Marketing Plan for the business. When doing this, you will need to:
Ensure your plan is developed in line with CCF & MB’s vision statement. 
Conduct some research (or make assumptions) and identify key market data for the plan. This can include, for example, customer demographics, product types (i.e. census data if available), marketing media data (i.e. social media).

• Identify of target markets, using a combination of research and your own personal experience.
• Identify your major competitors (at least two) with a competitor analysis developed for each competitor.
• Conduct a review of CCF & MB’s current market position based on your research findings in conjunction with competitor analysis; and identify where improvements can be made.
• Document changes you could introduce to improve the brand of CCF & MB, and what promotional activities you could introduce to build the customer base.
• The provision of options for increasing yield per existing client.

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