Focus placed on broker wellbeing by Monmouthshire Building Society

According to last year’s annual survey conducted by the Mortgage Industry Health Charter (MIMHC), 21% of mortgage professionals rated their mental health as either ‘poor’ or ‘of concern’ in 2024. This figure increased from 14% in 2023.

Respondents also said that they are now working longer hours than ever as they strive to provide customers with outstanding outcomes. 62% of respondents are now working more than 45 hours a week, increasing from 58% in 2023. Those working more than 60 hours a week also grew to 13% from 12% the previous year.

Monmouthshire Building Society have launched the Balanced Broker series, a monthly event bringing brokers together to support their emotional, physical and mental health.

The event is run by the Society, alongside supporting partners. Each month guest speakers attend to offer support and tips for managing wellbeing.

Claire Graham, Hybrid Business Development Manager, spearheaded the event. She said: “As a lender, Monmouthshire Building Society wants to ensure that we’re giving back and showing our brokers that we care about them.

“We understand that it’s a really stressful job. It’s a job that’s long hours, very demanding and can be high stress. Over the next year we’ll be running a series of Balanced Broker events monthly, providing an opportunity for brokers to meet others in a similar position. There will be professionals from the wellbeing space visiting as guest speakers at every session. We hope it will provide the perfect opportunity to take some time to concentrate on our mental, physical and emotional health.”

Indigo Smith, an Independent Financial Advisor based in south Wales, attended the first event. She said: “I came along because I really wanted to engage with other individuals in similar job roles to myself and just see how we’re all finding the industry at the moment, and to engage in the wellness side of the process.

“I really feel I gained an insight into shared best practice and learned that everyone is in a similar boat, which I found really helpful and will take away with me.”

The Balanced Broker events run monthly at the Society’s flagship branch in Cardiff. For further information contact Claire.graham@monbs.com