Singapore lender OCBC has launched an upskilling programme to transform seasoned mortgage specialists into certified wealth advisers.

Mortgage specialists at the bank, following an intensive four-month programme, will take on an expanded role in advising home loans customers on a full spectrum of investment and insurance products. This move aligns with OCBC’s strategic focus on wealth management.

In the banking sector, mortgage specialists, the bank says, are limited to offering home loans while only certified financial advisers are authorized to provide wealth advisory services, including investment and insurance solutions. Empowering individuals with both capabilities enables seamless service delivery, removes hand-offs and deepens customer relationships.

Based on the bank’s statistics, home loan customers have twice as many products with the bank compared with those without a home loan, and 1.6 times higher assets under management.

The initiative, the lender notes, also serves as a talent retention strategy, helping mortgage specialists grow their skillsets and stay engaged with the bank.

The transition from a ‘mortgage-only’ role to full-spectrum wealth advisory one is a logical next step for them. As it is, they are well-placed to support affluent customers, OCBC points out, as they can leverage their expertise in property – a key component of wealth portfolios. In addition, they are often the first touchpoint that customers have with the bank, with one in four new-to-bank customers starting with a home loan.

There are three components to the programme: classroom training, industry certification and on-the-job coaching.

“Homeownership is a major life milestone, and the financing process can be complex,” adds Sunny Quek, the bank’s head of global consumer financial services. “As such, mortgage specialists play a key advisory role, often operating at the intersection of home financing and financial planning. This initiative not only expands their areas of expertise but also strengthens the OCBC Premier Banking proposition.”