MPA 24.06

TOP 100 BROKERS REVEALED How the year’s best are raising the bar

AMA’S BIG WINNERS 2024 awardees in the spotlight

MPAMAG.COM/AU ISSUE 24.06

NON-BANKS FORGE AHEAD Serving the underserved

THE EVOLUTION OF PRIVATE BROKERS How Flint aims to build the nation’s leading private broking team Matthew Mohl, Sabrina Jhugroo and Salvador Huetos Flint

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DECEMBER 2024

CONNECT WITH US

CONTENTS

Got a story or suggestion, or just want to find out some more information? twitter.com/MPAMagazineAU facebook.com/Mortgage ProfessionalAU

UPFRONT 02 Editorial

It’s a vital new tool, but AI can’t replace human connections

12 FEATURES

VALUE-ADDED BROKING

45

How brokers can boost their value proposition through diversification

04 Statistics

Australia’s regional suburbs where property prices are surging

06 Opinion

Brokers need more than one string to their bow, says ANZ’s Ivan Mioc

FEATURES 14 Creating a personal brand

Tools and strategies to help brokers stand out in a crowded market

20 A model for growth

Two brokers rise to the top with the game-changing support of Aussie’s Platform Plus

SPECIAL REPORT

TOP 100 BROKERS

Find out who topped the list of the best Australian brokers in 2024, raising the bar on loan volume and client service

24

PEOPLE

NON-BANKS ROUNDTABLE

80 Other life

FEATURES

BIG INTERVIEW

SALVADOR HUETOS

Leading non-banks discuss how they’re strengthening their niche in the lending market

Flint has set up an elite team of private brokers servicing high-net-worth clients. Huetos and two of his colleagues share insights about their careers and explain the benefits of Flint’s Private Broker model

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58 FEATURES

UNVEILING THE WINNERS

Highlights from the 2024 Australian Mortgage Awards’ celebration of excellence in the industry

78 Brokerage insight

Loan Market Geraldton takes a holistic approach to serving the community A love of cricket has taught broker Roshan Bhattarai lessons in teamwork

MPAMAG.COM/AU NOW ONLINE: Our daily newsletter. Keep on top of property market trends, business strategy, and what industry leaders have to say.

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21/11/2024 12:20:31 pm

UPFRONT

EDITOR’S LETTER

AI no substitute for human interaction

I

f you were trying to determine what topic dominated the mortgage broking landscape this year, it would be hard to go past artificial intelligence.

While AI has been around for some time, in 2024 it was a subject that brokers, and the general public as a whole, couldn’t avoid. AI systems are now front and centre in the mainstream media, advertising and social media, relentlessly promoted as a must-have technology that will make our lives better and easier.

In the mortgage and finance industry, there’s no doubt that the use of AI is rising exponentially, with brokers using it to streamline time-consuming administrative and processing tasks, assist with customer communications and the production of marketing material, and for other tech applications.

Used in the right way, AI can boost the efficiency and productivity of brokerages, helping them act faster, provide better data and gain a competitive advantage over other businesses that don’t use the machine learning technology. But it’s important to remember that AI has its limitations – it makes mistakes and can’t replicate the warmth and familiarity of simple human connections.

The MFAA recently released a discussion paper on the safe and ethical use of AI in the mortgage broking industry. Created as a result of extensive discussion with MFAA

It’s important to remember that AI has its limitations – it makes mistakes and can’t replicate the warmth and familiarity of simple human connections members, the paper explores how mortgage and finance brokers are considering the use of AI and provides practical guidance for those looking to integrate AI into their businesses, including a checklist.

AI is a fantastic tool that brokers can’t afford to be without – but it is just that, a tool to assist business growth. It’s not a substitute for the creativity, understanding, empathy and unique personalities of human beings.

As someone once said, “I don’t want AI to paint the next Picasso for me – I want it to clean my kitchen so I have time to learn how to paint.”

In the December edition of MPA, we look at the best ways for brokers to market themselves and their businesses, and explore the opportunities provided by business diversification. The rise in popularity of non-bank lenders, and how they are partnering with brokers, is also in the spotlight in this issue’s Non-Banks Roundtable.

And to close the year on a high note, MPA reveals the winners of the hugely popular 2024 Australian Mortgage Awards and announces Australia’s Top 100 brokers.

Wishing all our readers and stakeholders a Merry Christmas and a Happy New Year.

Antony Field, editor, MPA

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www.mpamag.com/au DECEMBER 2024 EDITORIAL

SALES & MARKETING

Editor Antony Field

Publisher Claire Tan

Writers Kim Champion, Mina Martin, Ksenia Stepanova Contributor Ivan Mioc Lead Production Editor Roslyn Meredith

ART & PRODUCTION Designer Cess Rodriguez Customer Success Manager Isabella Concepcion

CORPORATE Chief Executive Officer Mike Shipley Chief Operating Officer George Walmsley Chief Commercial Officer Justin Kennedy Chief Revenue Officer Dane Taylor Director – People and Culture Julia Bookallil

Customer Success Executive Shara Cruzat

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Copyright is reserved throughout. No part of this publication can be reproduced in whole or part without the express permission of the editor. Contributions are invited, but copies of work should be kept, as the magazine can accept no responsibility for loss.

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P

1300 303 382

specialistfinancegroup.com.au

Australian Credit Licence No. 387025

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UPFRONT

STATISTICS KEY REAL ESTATE MARKET METRICS

REGIONAL SUBURBS SEE PRICE SURGE Soaring capital city prices are pushing buyers to regional areas, where home prices are booming. In NSW, Lochinvar saw a 67% rise, while in Queensland, Townsville’s Hyde Park grew 59% as the state’s regional areas continue to draw thousands of interstate arrivals seeking affordability and a lifestyle change.

Binningup, WA 6233 Region

Bunbury

Median property price $621,000 12-month change

$11trn

38%

Rangeway, WA 6530

Combined value of Australian residential real estate

Withers, WA 6230

Region

WA – Outback (South)

Region

Median property price

$255,000

Median property price $410,000

12-month change

Bunbury

12-month change

40%

36%

Tarcoola Beach, WA 6530

1%

Increase in national home values in Sept 2024 quarter – the softest rise since Mar 2023 quarter

TOP 20 REGIONAL SUBURBS WITH LARGEST YEAR-ON-YEAR PRICE GROWTH

Wagin, WA 6315

WA – Outback (South)

Region Median property price

Region

$635,000

12-month change

WA – Wheat Belt

Median property price

48%

12-month change

36%

Harvey, WA 6220

Port Denison, WA 6525 Region

$245,000

WA – Outback (South)

Median property price

$460,000

12-month change

36%

Region

Bunbury

Median property price

$420,000

12-month change

34%

PROPERTY FUELS INCREASING WEALTH

522,317

Household wealth in Australia rose for the seventh consecutive quarter in June 2024, increasing by 1.5% (or $250 billion) to $16.5 trillion, the ABS reports. This marks a 9.3% ($1.4 trillion) rise from a year ago, driven mainly by residential property values. Despite high interest rates, house prices rose across most regions due to limited supply and higher investor activity.

HOUSEHOLD WEALTH – CONTRIBUTION TO GROWTH ($BN), QUARTERLY

Property sales recorded in 12 months to Sept 2024

32

Average days properties spent on market in Sept quarter Source: CoreLogic, September 2024

4

Dec 19 Mar 20 Jun 20 Sep 20 Dec 20 Mar 21 Jun 21 Sep 21 Dec 21 Mar 22 Jun 22 Sep 22 Dec 22 Mar 23 Jun 23 Sep 23 Dec 23 Mar 24 Jun 24

Wealth (net worth)

Land and dwellings

Superannuation

Currency and deposits

Shares and equity

Other financial assets

Liabilities

288 -250.8 231.8 345.6 633.4 549.6 569.5 735.3 729.2 167.8 -399.9 -221.6 228.6 184.3 335.5 251.4 540.1 358.4 249.7

218.8 106 -23.8 221.9 376.2 457 429.4 600.4 587.5 196.2 -39.9 -262.9 64.1 53.7 310.5 173.8 327.9 148.2 249

62.1 -275.5 166.6 38.9 163.8 67 118.3 64.3 99.9 -51.2 -293.9 -7.3 119.8 110.9 54.9 10.3 146.4 149.2 13.7

12.9 18.2 35.1 65.2 27.5 13.7 5.9 75 47.7 33.7 6.2 53 33.8 26.9 -6.6 52.5 32.2 32.5 -9.2

13 -63.2 32.3 7.5 54 28.2 35 25.7 20.8 22.2 -22 14.3 35.4 21.1 17.1 34.4 51.9 56.5 25.9

2.3 -16.6 25.5 7.8 18.6 -2.4 19.2 7.2 8.3 -8.9 -14 4.8 6.8 1.8 6.3 6.6 11.6 10.2 19.2

-23.8 -21.6 -6.3 -1.7 -21 -27.6 -53.5 -53.2 -56.9 -41.8 -49.6 -31.9 -43.2 -35.5 -48.3 -27.2 -37.8 -46.2 -58.3

Source: PropTrack Home Price Index, August 2024

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Cairns

Region

Townsville

Median property price

$305,000

Median property price

$357,500

12-month change

45%

12-month change

The total value of new housing loans rose by 1.0% to $30.4 billion in August, according to the ABS. Investor loans increased 1.4% to $11.7 billion, while owner-occupier loans rose 0.7% to $18.7 billion.

59%

Rosslea, Qld 4812

Coober Pedy, SA 5723 Region

SA – Outback

Median property price

$120,000

Region

Townsville

Median property price

$320,000

12-month change

40%

12-month change

HOUSING LOANS RISE IN AUGUST

Hyde Park, Qld 4812

Bungalow, Qld 4870 Region

34%

Bundaberg West, Qld 4670 Region

Wide Bay

Median property price

$485,000

12-month change

VALUE OF NEW BORROWER-ACCEPTED LOAN COMMITMENTS (SEASONALLY ADJUSTED)

Central Queensland

Median property price

$347,500

12-month change

35%

Region

Gold Coast

Median property price

$1,370,000

12-month change

Monthly change

Yearly change

Median property price

Darling Downs – Maranoa $375,000

Housing

$30.4bn

1%

23%

Owner-occupier*

$18.7bn

0.7%

16.8%

12-month change

50%

Investor*

$11.7bn

1.4%

34.2%

$2.7bn

2%

15.3%

Construction

$3.2bn

7.9%

61.9%

Purchase of property

$6.8bn

2.3%

21.7%

Households

39%

Millmerran, Qld 4357

Bonville, NSW 2450 Region

Coffs Harbour – Grafton

Median property price 12-month change

$1,350,000 46%

Lochinvar, NSW 2321 Region

Tralee, NSW 2620

12-month change

Barossa – Yorke – Mid North Median property price $510,000

Keith, SA 5267

Region

Region

34%

Median property price

Fixed-term loans

$800,000

12-month change

$799,000

Median property price

Kapunda, SA 5373

Personal

Hunter Valley excl. Newcastle

Median property price

Capital Region

Region

12-month change

August 2024

Miami, Qld 4220

46%

Region

Rockhampton City, Qld 4700 Region

67%

Businesses

50%

SA – South East $250,000 43%

12-month change

*Loan commitments for owner-occupier, investor housing and personal fixed-term loans exclude refinancing Source: PropTrack, October 2024

Source: Australian Bureau of Statistics

MILLION-DOLLAR SUBURBS HIT NEW PEAK

PROPERTY BUYERS LOOK BEYOND HOME STATES

Australia’s million-dollar markets hit a record high in August, with 29.3% of suburbs now having median values above $1 million, up from 21.7% in January 2023, CoreLogic reports. Sydney and Brisbane led growth, each adding 46 million-dollar markets.

Interstate property enquiries have surged in 2024, with 22% of buyers seeking homes outside their home states, up from 17% last year, PropTrack reports.

The NT, Tasmania and the ACT are attracting the most interstate interest, driven by affordability, investment potential and job opportunities.

NET CHANGE IN NUMBER OF MILLION-DOLLAR HOUSE AND UNIT MARKETS

BY GREATER CAPITAL CITY REGION, AUGUST 2023–AUGUST 2024

SHARE OF ENQUIRIES COMING FROM PROPERTY SEEKERS BASED IN A DIFFERENT STATE, 12 MONTHS TO AUGUST 2024

46

100

50

46

40

36 30

30

70% 22

60

20 10

6

0

81%

80

29

4

40

1

20

-10

22% 14%

-12 -20

Greater Sydney

Greater Brisbane

Greater Regional Greater Regional Australian Greater Regional Regional Perth Queensland Adelaide NSW Capital Melbourne WA Victoria Territory Source: CoreLogic

21%

26%

27%

QLD

SA

22%

0 Total enquiries

NSW

VIC

WA

TAS

ACT Source: PropTrack

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UPFRONT

OPINION

GOT AN OPINION THAT COUNTS? Email antony.field@keymedia.com

Looking beyond home loans Brokers who can offer both commercial and residential lending solutions can broaden their client base and boost retention, says ANZ’s Ivan Mioc WHEN WE think about diversification, we often think about an investment strategy, but the truth is diversification can be used as a strategy for running our businesses.

For brokers, diversification into commercial lending is a great way to broaden your client base. We know the needs and requirements of our clients change all the time, and when it comes time to move beyond a home loan, fulfilling the holistic needs of your clients gives you another way to add value, retain relationships, build trust and grow your book.

If you’re a broker who’s thinking about taking the plunge into commercial lending, bear in mind that it is covered by simpler regulations than home lending, and borrowing requirements are generally bespoke in nature to suit the business, its cash flow requirements and capital position.

Brokers who can move seamlessly between the complexities of commercial and residential lending are uniquely positioned to understand the entirety of their clients’ needs, which is key to being able to provide the best service and, ultimately, the right financial solution.

Getting started in commercial lending We know customers value the service brokers provide, which is why the greatest asset brokers have is their existing customer base.

I encourage mortgage brokers to analyse their books, look at where they’re growing and consider building on those strengths.

Firstly, if the customer has an ABN, they are likely to have some form of business lending requirement. Be curious about what the customer is telling you as there may be an underlying business that you can support.

For example, when you look at your customer

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base, do you have a natural affinity with a specific industry or profession? Is this something you can build on and leverage to further grow your business?

Some industries are more specialised than others, such as health, franchising and agribusiness. ANZ recognises this, and we have specialist bankers that have industry expertise and are available to partner with brokers and assist their customers.

whose goal is to provide holistic financial solutions to their customers, regardless of whether they meet their business or personal needs. It’s important that we help support brokers and their customers – and offering a ‘full service’ is an excellent client retention tool.

Investing in your professional development to build your commercial knowledge and skill set is crucial. Partnering with an ANZ Broker Account Manager and working with our bankers to learn more about commercial lending will help build your confidence and knowledge.

However, a broker’s professional development shouldn’t be limited to policy, product and process updates from aggregators or lenders. Brokers should also explore opportunities to learn about growing their own businesses. To support brokers with this, ANZ recently held a business growth seminar for brokers.

The seminar leveraged ANZ’s long-standing relationship with the University of South

Customers are increasingly savvy, and the competition for their business is fierce, so it’s important that brokers have a number of strings to their bow On the other end of the spectrum, there are thousands of small businesses out there who require a more generalist approach.

Giving brokers the tools to diversify Customers are increasingly savvy, and the competition for their business is fierce, so it’s important that brokers have a number of strings to their bow.

We know that diversifying can be a challenging transition, which is why education is so important, as is the support offered by ANZ’s Broker Account Managers and bankers.

ANZ’s data shows that approximately 35% of retail applications it receives are for selfemployed customers. This represents genuine opportunities for brokers. If a broker isn’t talking to their customers about their commercial lending needs, another broker will.

We want to support accredited brokers

Australia’s Australian Centre for Business Growth to deliver modules about strategy, sales, marketing and scaling for growth, all of which are all critical considerations for business owners looking to sustain and grow their businesses over the long term.

Diversification is a strategy that will help brokers grow professionally, create more opportunities and manage risk. By diversifying, you will find yourself integral to the end-to-end customer experience, which ultimately adds value to your customer base.

Ivan Mioc is ANZ’s general manager commercial broker and origination. He has been at ANZ for 20 years and is a strong advocate for the broker industry. Mioc has held several leadership roles across the bank, focusing on commercial and small business lending.

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PEOPLE

BIG INTERVIEW

BUILDING AN ELITE TEAM: PRIVATE BANKERS BECOME PRIVATE BROKERS Flint is leading the way in servicing high-net-worth clients, setting up Flint Private.

The expert team includes former private bankers Salvador Huetos and Matthew Mohl, supported by head of settlements Sabrina Jhugroo

THE MOST successful people in life and business aren’t happy with the status quo. They want to get out of their comfort zone, challenge themselves and strive for new goals.

This is especially true for Salvador Huetos, Matthew Mohl and Sabrina Jhugroo, who have made the leap from working at major banks to joining financial services brokerage Flint.

Former senior private bankers Huetos (St.George) and Mohl (CommBank), and Jhugroo, a former NAB credit assessor and head of settlements at a large brokerage, are now using their impressive skills and banking knowledge as members of Flint’s Private Broker team focusing on high-net-worth clients.

Private broking is a niche sector of the mortgage and finance industry, with a limited number of brokers who have the experience to offer high-income clients flexible and individualised solutions to their financial needs.

MPA asked the Flint Private Broker team about their career transitions, the benefits of the Flint ownership model, and the extensive support structure in place to assist both brokers and their clients.

Huetos says leaving the familiarity of a traditional banking environment was a professional and personal challenge. “The most significant part of this was stepping out of the comfort of a stable salary and entering an environment where income can be mostly inconsistent,

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particularly in the building phase,” Huetos says.

“But creating something from the ground up was key, not only for myself but for my family.

“Rebuilding my network, client base and competing in a market with a vast number of brokers was a steep learning curve, but ultimately it taught me resilience and the importance of strong client relationships.”

Huetos says what drove his decision was the

but also most rewarding leaps”, Mohl says.

Unlike in banking, where excellent performance can only get you so far, and incomes are capped, Mohl says “going stronger and harder for our clients” as a Flint Private Broker reaps rewards. “Every minute that you put in is what you get back out in this industry. Every opportunity that comes your way is another chance to further your network and increase

“At Flint, private brokers don’t just earn an income – they own their trail book, clients and partners and, by extension, their future” Salvador Huetos, Flint desire for greater autonomy and control over his future. “Flint’s robust support system was instrumental during this transition, allowing me to focus on the relationships and values that matter most.”

Mohl says moving from banking to broking was a scary but logical leap. The bank provided a certain level of comfort, resources and fast turnaround times, but there were also the limitations of offering one product.

Making the transition from a stable PAYG role to the unpredictability of self-employment as a broker was “one of the biggest challenges

your income. That sense of ownership – the idea that my success was now directly in my hands – became motivation.”

Flint Private Brokers have access to a wide range of lenders and loan options, unlocking better outcomes for clients. Huetos says this gives them the flexibility to offer tailored solutions that fit each client’s unique circumstances.

“Now that we have access to the best policies, [and] our clients have more options, that increases their chances of approval, and it ensures we get the best deal possible to suit their needs and objectives. Flexibility and

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TEAM PROFILE Broker model: Flint Private Broker team: Salvador Huetos (pictured) – 16+ years’ experience; formerly at Westpac Group’s St.George Private Division Matthew Mohl – 17+ years’ experience; formerly at CBA Private Sabrina Jhugroo – 12+ years’ experience; formerly at NAB as a credit assessor, then ran settlements at one of Australia’s largest brokerages Strategy/credit team: Five chartered accountants (CPAs) Client base: High-net-worth clients, including medical professionals, tech professionals, legal and accounting professionals, self-employed clients and business founders, and family offices

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PEOPLE

BIG INTERVIEW choice are game changers for both clients and brokers,” Huetos says.

The aim is to build trust and help private clients, whether business owners, investors or individuals, achieve their financial goals.

Mohl says having access to multiple lenders on Flint’s panel has been incredible. He has been able to assist customers who had run out of options with their banks and provide outof-the-box solutions.

While broking is a highly competitive market, Flint Private aims to carve out its own space by focusing solely on high-net-worth clients whose incomes are at least $600,000, for minimum total lending of $5 million.

Huetos says it’s all about providing a tailored, client-centric and strategy-led approach to mortgage advice that goes beyond a mortgage, looks at a client’s full financial picture and delivers solutions aligned with their goals.

FLINT PRIVATE BROKER MODEL Brokers can build, control and own their trail books, staying in charge of their own futures The focus is on high-net-worth clients – providing a tailored, holistic approach to addressing complex financial needs Brokers are supported with a strategy team of CPAs, plus skilled back-office staff and a network of financial planners, buyers’ agents, accountants and wholesale investment managers High-touch support allows brokers to spend more time building trust and long-term relationships with clients

“We are attuned to the needs of private bank clients. We replicate the private banking experience in the broking space with a CPA-led strategy team” Matthew Mohl, Flint “Our emphasis is on high-quality customer experiences for our target market. We believe we have the best-in-market capabilities for assisting the complex needs of high-net-worth clients. It’s about being a trusted partner, not just quick wins.”

Flint Private has built a team of highly experienced professionals. Its strategy team is made up of certified accountants (CPAs) who have a deep understanding of tax strategies, cash flows and complex financial structures.

The brokerage also employs skilled admin staff and uses a network of financial planners, buyers’ agents, accountants and wholesale investment managers to ensure a holistic approach to servicing HNW customers.

Jhugroo leads Flint’s settlements team, which proactively manages settlements, ensuring transparency and seamless communication. “This builds trust with clients and refer-

rers, strengthening relationships and encouraging repeat business,” she says.

“Our back-office team manages communications with lenders, lawyers and stakeholders, freeing brokers from administrative tasks. This allows brokers to focus on nurturing client relationships and expanding their business.”

Jhugroo ensures that all transactions are executed flawlessly, resolving potential issues before they arise and ensuring stress-free settlement experiences. She says Flint Private’s settlement expertise gives its brokers a point of difference by offering a seamless, high-quality experience tailored to discerning clients. “This fosters trust and strengthens client and referrer relationships.”

Huetos says Flint’s private brokers “don’t just earn an income – they own their trail book, clients and partners and, by extension, their future”, creating long-term assets that provide

security for their families. “This approach ensures brokers stay invested in the success of their business while having the flexibility to build their brand. Flint provides the support, but ultimately the success and growth belong to the brokers,” Huetos says. “By managing loan processing, client onboarding and other administrative tasks, Flint allows brokers to concentrate on growing their business.”

Mohl says he and Huetos bring more than 30 years of experience as private bankers at major banks. “We are attuned to the complex and high-touch needs of a private bank client. We replicate the private banking experience in the broking space with a CPA-led strategy team.”

Flint Private Brokers specialise in complex structuring and lending, ranging from residential to commercial and development finance.

HNW clients benefit from tailored policies and solutions that are usually not available to the retail channels. These can range from higher LVRs to HNW loan policies that align with clients’ exit strategies. Niches also allow asset lending, professional investor IO servicing, as well as the use of alternative sources of investment income due to complex income structures, flexibility around cash flow, or asset- and liquidity-based lending.

Huetos says the private broker model is similar to most private banks, with an extensive team of credit specialists to assist in structuring deals. “The difference is that we have deep contacts with all the lenders, especially all of the private banks and internal senior credit teams.

“We offer a high-level, personalised service that high-net-worth clients expect. We can confidently offer comprehensive financial strategies, allowing us to build trust and longlasting relationships.”

This service model considers the busy lives of clients. It includes a concierge-style service featuring after-hours meetings, virtual consultations and a dedicated senior onshore team to manage the entire process from start to finish.

Mohl says a high-touch experience is essential to the successful retention of private bank clients. Flint’s directors/bankers are available seven days a week, while also working closely with the clients’ private bankers.

B a C

S

W a b o

T O 10

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FEATURES

SECTOR FOCUS: DIVERSIFICATION

Reaching out for new business Stretching beyond home loans into other areas of finance and even complementary services can help mortgage brokers future-proof their businesses by strengthening client relationships and attracting new customers THE ABILITY to diversify is an important skill that every broker should have if they want to remain competitive, retain customers and ultimately grow their business.

As the market for home loan customers becomes more crowded, some brokers are looking to offer other types of lending and services to avoid relying solely on residential mortgages for their income.

A growing number of brokers are diversifying into commercial lending. The MFAA Industry Intelligence Service 17th Edition report revealed that the total book value of commercial lending handled by mortgage brokers continues to grow. Between 1 April 2023 and 30 September 2023, it reached a record high of $78.12 billion. It also increased 6.85% to $5.01 billion period-on-period.

But diversification is not just about commercial property lending; it also covers SME finance, such as for asset and equipment purchases, lines of credit and cash flow funding; SMSF lending, personal loans and more. Some brokerages diversify by offering non-lending services.

Roberto Sanz, general manager sales and partnerships at small business lender Prospa, and Amol Khuntale, an award-winning broker and director of ASK Financials, gave MPA their insights on different ways to diversify and how it can benefit broker businesses.

Adding value to broker offering Sanz says Prospa sees diversification as a means of increasing the value proposition

12

brokers offer clients when they address a range of funding needs.

“Right now, small business lending presents a huge opportunity because of the unique support that SMEs require,” Sanz says. “Small businesses are often time-poor, and cash flow remains as the top funding need. Brokers who can solve for these needs will strengthen their proposition in the SME market.”

By understanding the unique pressures and opportunities of SMEs, brokers can offer tailored solutions that meet a wide range of needs, from cash flow and growth capital to strategic financial advice, says Sanz.

“It’s about becoming that go-to partner clients can rely on as their needs change. Take, for example, a broker in Sydney who worked

with a client for over 10 years, helping them grow their business from $200,000 to $6 million annually. You can imagine how their needs evolved over time, and how valuable that relationship became for both the client and the broker.”

A YouGov study from October 2024 shows that 30% of SMEs are planning to seek external funding over the next 12 months.

Sanz says now is the time for brokers to work with their SME clients on what’s next in 2025.

Khuntale, who was named the 2024 FBAA New Finance Broker of the Year, says he sees diversification as a way of creating value across interconnected fields to support clients holistically. His Melbourne brokerage, ASK Financials, has expanded into business

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and commercial loans to meet its clients’ broader financial needs.

“Transitioning into business finance involved focused upskilling, including specialised training in loan structures, cash flow analysis and attending commercial training sessions conducted by our aggregator,” says Khuntale.

“While challenging at first, this shift has been rewarding, allowing us to provide comprehensive solutions and strengthen client relationships.”

ASK Financials also offers SMSF lending, providing clients with tailored solutions for their self-managed super funds.

“Looking ahead, asset finance is our next area of focus,” Khuntale says. “Expanding into asset finance will allow us to further meet our clients’ diverse financial needs, strengthening our role as their all-in-one financial partner.”

For Khuntale, diversification extends beyond lending. He has recently set up three separate businesses to complement ASK Finance: investor platform Investar.io to provide a wealth of data to investor clients; Skill Pal, which provides back-office support to brokers; and Digistratics, a marketing service for brokers.

“Together, they form a comprehensive ecosystem, enabling us to empower brokers, buyers and investors on every step of their journey. It’s strengthened client trust, increased referrals and positioned us as a comprehensive resource in the industry.”

Benefits of diversification Diversifying is about future-proofing your business, says Sanz. “With open banking and AI simplifying home loan comparisons and processing, the role of residential brokers will evolve. Moving forward, value-driven relationships will outperform purely transactional ones, so it’s in mortgage brokers’ interests to offer more than just one solution.”

Sanz says by expanding into areas such as SME and commercial finance, brokers can build stickier relationships that support clients across every stage of their journey, creating lifetime value.

“Diversifying revenue streams also adds stability, helping brokers weather housing market fluctuations. At Prospa, we’ve seen an 11% increase in mortgage brokers referring business over the past year, which shows how trusted relationships can unlock real opportunities.”

Helping brokers branch out To successfully diversify their businesses, brokers can’t do it alone – they need training and support. Sanz says Prospa provides a full suite of tools and resources to help brokers confidently branch out into new business lending areas. This includes ongoing access to free educational resources, such as webi-

Khuntale says new brokers wanting to diversify can start by understanding their clients’ needs and identifying complementary services that add real value.

“Invest in quality training and upskilling to build expertise in each area. Diversification should enhance your clients’ journey – so grow thoughtfully, focusing on services that strengthen relationships and set you apart in a competitive market.”

Tech tools to support brokers Sanz says the new Prospa IQ tool is designed to give broker partners confidence in its accuracy and outcomes. It enables partners to generate on-the-spot quotes, backed by

“Moving forward, value-driven relationships will outperform purely transactional ones, so it’s in brokers’ interests to offer more than just one solution” Roberto Sanz, Prospa nars and marketing materials, which brokers can use to manage client conversations and grow their businesses.

New technology is making it even easier for brokers to diversify, says Sanz. “Prospa Intelligent Quoting, our newest quoting innovation, allows more brokers to confidently assess their clients’ creditworthiness in real time, improving their customer experience.”

Prospa BDMs are there to help brokers every step of the way. Sanz says a broker recently expanded into SME lending, relying on Prospa’s support to help a self-employed client open a new cafe in Perth after they had been turned away by a major bank.

“With Prospa, the broker secured $500k in funding. The client was thrilled with the fast turnaround and level of service and soon returned to the same broker for help with refinancing their residential loans.

“Prospa’s BDM supported the broker throughout the entire process.”

Prospa’s credit decision engine. “The tool automatically analyses bank statements, credit profile and serviceability in real time with no credit checks,” Sanz says. “It determines the client’s borrowing capacity, price and term.

“On top of that, partners can now choose the service approach that best fits their business model,” he adds. “They can manage their own clients’ applications end to end through our Partner Led service, or they can spot and refer the opportunity for us to run the application.”

Prospa has also sharpened its rates for good-quality businesses, ensuring brokers can access competitive rates for their clients.

“We’ve also enhanced our loan products, including five-year terms on business loans, as well as increasing our line of credit limit up to $500,000. Together, these changes will help reduce repayments while serving a larger and more diverse group of businesses,” says Sanz.

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FEATURES

SECTOR FOCUS: BROKER MARKETING

Standing out from the competition In a residential mortgage sector where brokers dominate market share, customers have never had so many brokers to choose from. That’s why brokers need the right plan and tools to market themselves effectively to clients

Support with marketing strategies

IT’S NO LONGER enough for mortgage brokers to just explain to customers what services they provide and then expect valuable leads to flow. Potential clients want to know much more about the brokers themselves – their values, their goals, their personalities – before they choose a broker.

In an industry in which almost 74% of all new residential home loans are written by brokers, a smart and well-executed marketing strategy can help brokers cut through a crowded market. It’s all about creating a personal brand and tailoring your

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marketing plan to your client base.

Social media is also vital and requires a regular, high-touch approach that engages your audience and prompts further action.

To understand how an effective marketing plan can help brokers succeed, MPA sought the views of Blake Buchanan, general manager of Specialist Finance Group (SFG); Sally Chadwick, executive manager, corporate communications, events and franchise marketing at Mortgage Choice; and Emily Lonsdale, general manager – growth at Lendi Group.

“If you fail to plan, you are planning to fail” is a well-worn phrase, but apt when it comes to brokers promoting their businesses.

Chadwick says brokers should set up marketing strategies aligned with their aspirations. “An effective marketing strategy will enable you to stand out from the competition, connect with new and existing customers and grow your business,” she says.

“At Mortgage Choice, our brokers’ priority is supporting their customers. We don’t expect them to be marketing experts, which is why we provide our brokers with personalised support to create effective marketing strategies.”

Mortgage Choice franchisees are encouraged to complete an annual Marketing Planner to structure their local marketing activity. Chadwick says being more strategic enables brokers to benefit “from the significant investment we make into the Mortgage Choice brand, and our connection with the realestate.com.au brand”.

“We help brokers leverage that national brand presence by providing a huge range of marketing tools, resources, campaign assets, technology and expert advice that they can use locally to build their brand, generate leads and nurture customer relationships.”

Buchanan says brokers have marketing opportunities through many channels, including existing clients, referrers and especially the open market. “Our role is to provide

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information, strategic advice and, importantly, access to systems such as SFGconnect that can digitise much of the marketing you do in your business,” he says.

“Whilst there are finite channels that you can market within, brokers should take a holistic approach to marketing and imbed these in your business activities.”

Buchanan says if brokers don’t have particular strengths in certain areas, they should look to outsource these systems and seek out experts who can help them with their marketing journey.

Lonsdale says Lendi Group invests heavily in digital advertising campaigns across multiple platforms, including Google and Meta, to increase brand awareness and drive customer appointments to Aussie retail stores and broker businesses. “Earlier this year, we launched our Aussie mobile app, which has put our brokers’ businesses in the palms of their customers, facilitating brokercustomer connection more easily than ever before. The app is equipped with a range of features, including referral tools, that support lead generation.”

Digital marketing is not just about top-offunnel lead generation, says Lonsdale. Lendi

AVERAGE VALUE OF HOME LOANS SETTLED PER BROKER

$8.3m

$8.8m

Oct 22–Mar 23

Apr 23–Sep 23 Source: MFAA Industry Intelligence Service 17th Edition report, 1 April 2023–30 September 2023

tions, allowing brokers to leverage promotions year-round to drive customer growth and incentivise appointments.”

Chadwick says growth looks different for everyone, so creating a tailored strategy is an opportunity to set clear goals, define success and then adapt activity to suit. “For example, if your main goal is brand awareness or lead generation, the marketing activities you

“Our role is to provide information, strategic advice and, importantly, access to systems such as SFGconnect that can digitise much of the marketing you do in your business” Blake Buchanan, SFG Group uses a sophisticated CRM strategy to nurture low-intent leads into high-intent customers and to re-engage past customers, bringing them back into the funnel.

“Our journeys program places customers into bespoke nurture journeys where they receive tailored communications relevant to their situation,” says Lonsdale. “We’ve adopted an ‘always on’ approach to competi-

choose to invest in will likely be different than those for connecting with existing customers or building business referral relationships.”

Mortgage Choice’s CRM platform delivers targeted communications using advanced email segmentation and content personalisation. The aggregator also works closely with brokers to refine their SEO strategies and improve search rankings.

Social media: an essential tool Buchanan says social media is a costeffective way for brokers to get their message out and is preferred by those who know how to capitalise on it. “Two important things to remember – have an impactful message and a hook to increase enquiries but also to ensure you have an audience.”

Brokers can build their own audience on social media by requesting that people like and follow their page. “Alternatively, why not get your message out to an already-built audience,” says Buchanan. “For this, community or interest groups are a great way to advertise and participate in conversations about finance needs. With social media it takes consistency, and it will deliver results over time if your message is great.”

More than 95% of Australians own a smartphone, says Lonsdale, so social media is a vital avenue for connecting brokers and customers and meeting customers where they hang out – online.

“For many people, their property search journey starts on social media,” she says.

“Property buyers are looking for experts to answer their questions, and brokers have a key role in educating them.

“Mortgage broking is a people-centric industry; social media is an effective tool for brokers to showcase their human side, build

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FEATURES

SECTOR FOCUS: BROKER MARKETING a personal brand and create an online community,” Lonsdale says.

Lendi Group provides training and resources to help brokers grow their social presence, including social media masterclasses and a comprehensive suite of collateral they can customise for their business. “We’re constantly capturing video and visual content and encourage our brokers to get involved – our brokers are the stars of the show,” she says.

audience wants. Consistency is key – stay true to your brand and be consistent with your visual style, your tone of voice and the type of content you produce.”

Lendi Group encourages brokers to embrace networking with existing customer bases, local businesses, online and out in the community, says Lonsdale.

“Don’t be shy to ask for referrals. Word of mouth can be a huge driver of business, and

“Having a view on relevant topics and informing and educating your target audience about the issues that matter to them can create more powerful connections and build trust” Sally Chadwick, Mortgage Choice Chadwick says TikTok, Instagram, Facebook and LinkedIn are invaluable for building an online presence, connecting with new audiences and staying top of mind for existing customers. “We encourage brokers to include social media as a core part of their marketing strategy.”

Buying a home is the biggest financial decision many people will make, so trust is hugely important. “Building an authentic identity through social media can help to build and reinforce that trust,” she says.

To help drive engagement, each month Mortgage Choice brokers are provided with timely and relevant content, including seasonal competitions, to post on social media via a social media scheduling tool.

great businesses are built on referrals. Look for avenues to add credibility to your personal brand, including industry awards and thought leadership opportunities in media.”

Aussie brokers are assisted in building their personal brand through community activations; support with establishing and maintaining an online and social media presence; media opportunities to showcase their expertise; support with industry award

submissions; and dollar-for-dollar matching incentives to encourage local area marketing initiatives.

Chadwick says a unique and authentic personal brand sets brokers apart from their competitors and creates meaningful connections with target markets.

When building a personal brand, she says it’s important for brokers to reflect on both their own and their business’s strengths and values. “Understand your target audience and define your unique selling proposition.

This is where you define what makes you different and how this will benefit your target audience.”

Thought leadership is also important, says Chadwick. “Having a view on relevant topics and informing and educating your target audience about the issues that matter to them can create more powerful connections and build trust.”

She suggests making short social media videos, for example highlighting government incentives for first home buyers, and notes that customer testimonials and positive Google reviews are also powerful tools.

Buchanan says brokers need to have a customer journey process attached to their service. This will not only ensure consistency of service but also bring the wow factor to clients.

“If you do this, you can grow your audience by asking for reviews and promoting

RISE IN NUMBER OF HOME LOAN APPLICATIONS LODGED

343,524

360,316

Building a personal brand Lonsdale says brokers need to be visible and present, online and in their community.

“Building and sustaining a personal brand requires a consistent cadence of activity for cut-through; it’s not something you can stop and start.

“To resonate with your target customers, you need to know who you are and what your

4.89% Oct 22–Mar 23

Apr 23–Sep 23 Source: MFAA Industry Intelligence Service 17th Edition report, 1 April 2023–30 September 2023

16

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FEATURES

SECTOR FOCUS: BROKER MARKETING these through your marketing. Don’t forget to also offer to assist any of your clients or referrer networks as these are the lowhanging fruit when you do an excellent job.”

Targeting niche markets Brokers need to also target specific audiences such as first home buyers, property investors and SMSFs. Buchanan says a cheap and easy way to do this is to join groups focused on these interests or niche markets. “If there isn’t one out there, you can build your own community and offer insights to your desired market.

There are also plenty of seminars and networking groups that you can join, but again, these take time and consistency to be able to create a known profile for yourself which will gain trust and grow enquiries.”

Chadwick says, “You need to meet your audience where they are. That means understanding their needs and what matters to them and being active on the channels they use. It’s also important to deliver content in a language and tone that will resonate with your target audience.” For example, younger first home buyers are more active on TikTok than other platforms.

Tailoring and personalisation is crucial in email marketing, Chadwick says. She advises brokers to personalise content and use a segmented database, so audiences are not being sent irrelevant content.

On social media, she says paid activity – such as ‘boosting’ social media content or running campaigns – can help brokers target social media users with specific interests or from specific demographics. Local area marketing activity, such as sponsoring community events during the Hindu holiday of Diwali, is a good way to reach specific clients.

Leveraging data analytics So, once your strategy is place and your marketing activities are in full swing, how do you gauge success? This is where data analytics come in.

Lonsdale says it’s vital for brokers to be across cost-per-lead, cost-per-acquisition and conversion metrics. “This will help you develop an understanding of what strategies have

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BROKER CONVERSION RATES: FIVE-YEAR TREND 87.3% 81.2% 73.6%

73.8%

Apr 18– Sep 18

Oct 18– Mar 19

69.2%

68.7%

69.1%

Apr 19 –Sep 19

Oct 19– Mar 20

Apr 20– Sep 20

84.2%

83.2%

78.1%

72.2%

Oct 20– Mar 21

Apr 21– Sep 21

Oct 21– Mar 22

Apr 22– Sep 22

Oct 22– Mar 23

Apr 23– Sep 23

Note: The conversion rate is calculated based on the number of home loans settled as a proportion of the number of home loan applications lodged. Conversion rates need to be interpreted with caution as some aggregators may count conditional approvals rather than applications.

Source: MFAA Industry Intelligence Service 17th Edition report, 1 April 2023–30 September 2023

“Brokers need to be visible and present.

Building and sustaining a personal brand requires a consistent cadence of activity for cut-through; it’s not something you can stop and start” Emily Lonsdale, Lendi Group been successful and which haven’t, so you can direct your time, energy and marketing spend toward activity that converts efficiently and successfully.”

Buchanan says brokers need to understand how their client base performs by looking at their data, and design marketing strategies accordingly. “An example might be the average life of a loan that you introduce. If you know that on average your clients are refinancing every four to five years, what are you telling them in the lead-up to this period?”

Brokers could have a digitised marketing strategy that informs clients that they’re doing this and the reasons why, Buchanan says. That would position this review period as normal or something that they should be doing.

“Whether it be repricing or refinancing, this strategy has seen reduced attrition rates across many businesses. This in turn can reduce the

need to fill the funnel at the front as you are having fewer leave your service at the back.”

Chadwick says understanding and leveraging data analytics enables brokers to optimise marketing strategies and spend, make more informed decisions, refine targeting and create more effective campaigns – ultimately leading to improved conversion.

It’s important to understand key metrics – tracking where leads are coming from, looking at engagement metrics such as email open and click-through rates, and measuring the percentage of leads that convert to clients.

Mortgage Choice provides brokers with reporting on their top social media posts each month. “We also take an enterprise view of engagement, which informs our marketing team’s decisions when planning social media and other marketing content for the months ahead,” says Chadwick.

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FEATURES

BROKER SUPPORT

How Aussie support helps brokers thrive Aussie’s Platform Plus system is helping brokers such as Samer Demerdash and Clay Bremer achieve career milestones, scale their businesses and thrive in the competitive mortgage industry

Clay Bremer

DRIVING A business as a mortgage broker is hard, particularly in today’s tough market.

Finding a support system that empowers you to build the business you want while delivering top-notch results is invaluable for today’s broker.

Aussie’s Platform Plus support model is designed to do just that, offering brokers the tools, technology and tailored assistance to not just survive but thrive. It’s a model that doesn’t just streamline processes; it helps brokers create a business that works for them, no matter where they are in their career journey.

For brokers such as Samer Demerdash and Clay Bremer, this innovative system has been

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Samer Demerdash

a game changer. Demerdash and Bremer have each harnessed the power of Platform Plus to transform their businesses. From scaling their operations to transitioning into new roles, their stories are proof that, with the right support, there’s no limit to what a broker can achieve.

The journey to becoming a No. 1 broker Demerdash’s rise to the top of the Aussie network is a testament to hard work and strategic adaptation. Joining Aussie in 2017 after a career at Commonwealth Bank, Demerdash was drawn by the freedom and flexibility of the mobile broking model.

“Aussie’s mobile broker offering gave me

the opportunity to leverage my skills and experience to build a business of my own,” Demerdash tells MPA. In FY24, Demerdash became Aussie’s No. 1 broker, achieving 30% year-on-year business growth and settling over $127 million.

Demerdash’s breakout year also sees him ranked among MPA’s Top 100 Brokers for the first time.

He attributes this growth largely to the Platform Plus model, which, in his words, “allowed me to work much more efficiently and ultimately write more business”. The pre-qualified appointments and operational support provided by Aussie’s Associates and Client Solutions team have been pivotal.

“One of the main advantages of the Platform Plus model is that brokers are provided with high-quality appointments rather than cold, indiscriminate leads,” Demerdash explains. With administrative tasks taken care of, he can focus on providing exceptional client service and building his network.

Demerdash also emphasises the importance of creating a solid foundation in the early stages of broking.

“In the beginning, I focused on building relationships in the community by connecting with like-minded business owners and leveraging my personal network,” he recalls. This focus on connection-building laid the groundwork for his future success, as referrals have now become his largest source of leads.

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His advice for other brokers? “Tap into the technology and tools available. Time saved is time that can be invested into building relationships and growing your business.”

From Air Force to franchisee For Clay Bremer, becoming a mortgage broker marked a significant career shift after 13 years as an aircraft engineer in the Air

“Fully embrace the technology and tools available. Time saved is time that can be invested into building relationships and growing your business” Samer Demerdash, Aussie Looking ahead, Demerdash has no plans to slow down. “The only way is up! My goal for 2025 is to exceed the $127 million of FY24,” he says. “I plan to continue leaning into the Platform Plus support model, leveraging the services available to me and delivering exceptional outcomes for my customers. By doing so, I’ll keep growing my business and generating more referrals.”

Force. When he joined Aussie in 2021, he was new to the industry but determined to succeed. “I enjoy working with numbers and people, so broking seemed like a natural choice,” he explains.

Bremer quickly rose to become Queensland’s No. 1 mobile broker in FY24.

His secret? Hard work and making the most of Aussie’s support model.

Multichannel distribution model with various broker pathways

“Platform Plus has allowed me the freedom to focus directly on growth activities like generating appointments, meeting new clients and expanding my presence in the community,” Bremer says.

The support system gave him the confidence to take the leap from mobile broking to franchise ownership.

In October 2024, Bremer purchased Aussie Tewantin on Queensland’s Sunshine Coast, marking a new chapter in his journey as a business owner.

“I’ve been able to leverage the model to build a successful mobile broking business, and now I’m excited to see the productivity I believe will be unlocked by having a team of brokers under one roof all harnessing the same scalable systems,” he says.

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FEATURES

BROKER SUPPORT

Bremer is already working on fostering a high-performing team and building a positive culture. “Aussie provides the tools for success, from AI to client solutions to admin support. I’m giving my brokers the best chance to succeed by ensuring they can focus on what matters – customer care,” he explains.

Looking ahead, Bremer’s ambitions extend beyond Tewantin. “My ultimate goal is to scale to multi-site ownership while maintaining a strong team culture. I want to create a business that thrives on collaboration and shared success.”

Empowering brokers at every stage Demerdash and Bremer’s stories highlight the versatility of Aussie’s Platform Plus model.

“The more people there are, the more knowledge is shared and the stronger the business. Power and knowledge lie in the collective,” Bremer says.

As both brokers look to the future, their stories demonstrate that Aussie’s Platform Plus model isn’t just about immediate success – it’s a pathway to long-term growth.

Whether it’s scaling a business to new heights or making the leap to franchise ownership, the right support can make all the difference.

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Qualified customer appointments booked for brokers

Looking to the future Demerdash and Bremer have ambitious goals for the coming years.

For Demerdash, it’s about building on his success and continuing to refine his approach

“Build a high-performance team and leverage the recognised brand and support systems.

It’s a game changer” Clay Bremer, Aussie Whether breaking into the industry, thriving as a solo operator or growing a team, brokers can harness the support system to achieve their goals. From pre-qualified leads to streamlined loan processing, Platform Plus empowers brokers to focus on what they do best: connecting with clients and growing their businesses.

For Demerdash, leveraging the model has allowed him to focus on providing exceptional service to his clients and expanding his referral network. “Technology, AI and automation are here to stay. Fully embrace them to deliver better outcomes for your customers and make your work more seamless and efficient,” he says.

Meanwhile, Bremer is laying the groundwork for his long-term success. By investing in his team and integrating into his local community through partnerships with complementary businesses, he is creating a strong foundation for sustainable growth.

PLATFORM PLUS: KEY FEATURES

to client service. “I want to consistently deliver better outcomes for my customers, exceed my targets and grow my business even further,” he says.

Bremer is equally driven, with plans to expand his business and deepen his ties to the local community. “I’m excited to grow the team, support my brokers and eventually expand my store footprint,” he says.

“But above all, I want to create a positive, thriving workplace where everyone feels supported.”

Their journeys are a testament to what’s possible with the right tools, a clear vision and a commitment to growth. For brokers looking to take the next step in their careers, Aussie’s Platform Plus model offers a roadmap to success.

To find out more about Aussie’s Platform Plus model and how it can help supercharge your business, go to www.aussie.com.au/ join-us/broker-opportunities/.

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SPECIAL REPORT FEATURES

NON-BANKS ROUNDTABLE 2024

MEETING THE NEEDS OF UNDERSERVED CUSTOMERS Third party heads from leading non-bank lenders joined MPA’s annual industry roundtable to discuss the growth of the sector, broker partnerships, competition, technology and cybersecurity

DESPITE THE challenges of a constrained economy, the value proposition of non-banks hasn’t changed. Non-bank lenders continue to offer flexible finance solutions that banks don’t provide, focusing on clients such as the self-employed and small business owners, who often don’t fit the narrow credit criteria that banks apply.

In a cost of living crisis, and with mortgage holders feeling the effects of higher interest

24

rates, you could argue that this is where nonbanks come into their own.

Brokers working with non-bank lenders understand their value proposition and how they can assist brokers in servicing a wider range of customers beyond the vanilla. This benefits broker businesses, enabling them to provide more lending options and strengthen client relationships.

Non-banks rely heavily on their broker

partners to funnel customers their way, and as the sector grows, it appears more brokers are realising the value of these lenders, boosting growth in this market.

It’s clear that non-banks compete with banks on solution rather than price, and brokers understand this. But in a competitive lending environment, which can be complex and challenging, non-banks can’t stand still. They need to constantly review their products, policies and

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processes to ensure they adapt and keep pace with the needs of brokers and their clients.

Turnaround times, technology and cybersecurity are all important areas that non-banks are working on. They will also need to be prepared to pivot when the RBA moves to cut the official cash rate some time in 2025.

To discuss these and other crucial matters for the sector, MPA recently held the 2024 Non-Banks Roundtable at Nobu in Sydney,

bringing together third party leaders from many of Australia’s non-bank lenders, as well as Top 100 Brokers 2024 winner Stephen Michaels, managing director of Catalyst Advisers.

Participants included Jason Arnold, group executive – origination, Pallas Capital; Cory Bannister, senior vice president and chief lending officer, La Trobe Financial; Royden D’Vaz, general manager distribution and partnerships, Assetline Capital; Tim Lemon,

national sales manager, MA Money; Tony MacRae, chief commercial officer, Bluestone Home Loans; Chris Paterson, general manager distribution, Resimac; Lee Prior, director of distribution, ORDE Financial; Barry Saoud, general manager mortgage and commercial lending, Pepper Money; David Smith, chief distribution officer, Liberty; and Belinda Wright, head of partnerships and distribution, Thinktank.

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FEATURES

NON-BANKS ROUNDTABLE 2024

THE PANELLISTS

Jason Arnold Group executive – origination, Pallas Capital

Cory Bannister Senior vice president, chief lending officer, La Trobe Financial

Royden D’Vaz General manager distribution and partnerships, Assetline Capital

Tim Lemon National sales manager, MA Money

Tony MacRae Chief commercial officer, Bluestone Home Loans

Chris Paterson General manager distribution, Resimac

BROKER

Lee Prior Director of distribution, ORDE Financial

Barry Saoud General manager mortgage and commercial lending, Pepper Money

How has the non-bank sector adapted to changing economic conditions over the past 12 months?

What have been the key challenges and opportunities for brokers and their clients, and how have you worked with them?

MacRae said it has been an interesting period in the non-bank sector because as the economy has changed, more customers are now falling outside the traditional bank space, providing more opportunities for non-banks.

“At Bluestone, we’ve seen it as a wonderful 12 months of opportunity where we’ve been able to work really closely with brokers, not product flogging but educating in the non-standard space, including near prime, specialist and SMSF lending, to help brokers actually grow their business,” MacRae said.

Bluestone looks at the economic circumstances as an opportunity to push itself forward. “We think the market that falls into the space that we specifically cater for is

26

David Smith Chief distribution officer, Liberty

Belinda Wright Head of partnerships and distribution, Thinktank

Stephen Michaels Managing director, Catalyst Advisers

“International investment into our nonbank sector is stronger than ever. It’s a signal that there’s increasing interest and attention on Australia globally. Other players are waking up to the potential for growth here” Jason Arnold, Pallas Capital growing, and being able to provide solutions has seen us significantly increase our volumes over that 12-month period.”

Prior said the changing economy and trends in customer engagement have highlighted an opportunity to further support brokers with more proactive, rather than reactive, strategies.

He said previously brokers were understandably focused on responding to customer needs, such as requests for more competitive rates and cashbacks. However,

after that initial focus, economic changes slowed that growth.

“We’ve got a segment of brokers that have had a reduced need to rely on proactive strategies,” said Prior.

“While the changing economy does have its challenges, there’s also a lot of opportunities for brokers who can successfully navigate this period. ORDE is focused on providing brokers with the support and education they need to better service their clients and grow their business. That means support not just

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with products and customer engagement but with referrers and internal processes as well.”

D’Vaz said he believes the current challenge for brokers is not high interest rates or the housing market but more informed customers with higher expectations, which some would say are unrealistic.

However, “for them [customers], those expectations are not unrealistic,” he said. “For a broker, just sticking to one product is not enough any more. Diversifying and broadening your expertise and exploring a full range of opportunities is what’s needed to stay competitive.”

D’Vaz said all non-bank lenders around the table were trying to enhance their offerings and improve policies, given that brokers have access to so many lending options.

“If you look at our business [Assetline Capital], we’ve been one of the leaders in that short-term development and construction space, but we realise that we have to keep moving and be dynamic and agile and offer

28

more solutions for the brokers.” He encouraged brokers to diversify.

Picking up on D’Vaz’s comment about customer expectations, Michaels said what he wants to do is keep striving forward. He gave the example of a customer who had banked with a major bank for 10 years but had not received the credit answer they wanted from the bank, despite being in a good, creditworthy financial position.

“If you don’t have that option in your toolbelt where you can tell them, ‘now we’re going to our mid-tiers and our non-bank lenders’, then you’re just going to be left behind,” said Michaels.

Previously, Catalyst Advisers brokers would catch up with referral partners for lunch, and “you would just shake the tree and deals would fall out”, but now there had to be a specific reason behind the conversation.

“And that reason might be, I spoke to you six months ago, and I couldn’t help that client out. Now we’ve got a different non-bank that

can provide that solution that wasn’t there six months ago.” Michaels said.

“Non-banks give us a reason to, a, keep servicing our clients, but also, b, a reason to keep servicing our referral partners too.”

Diversifying is key for brokers in the construction space, Arnold said. Cost increases have made it a particularly tough market for development finance.

“Valuations have come off in certain segments, cap rates have softened, builders have fallen over, so we’ve never worked more closely with our broker partners,” he said. This includes working through issues such as when feasibility don’t stack up on building projects.

Arnold said that for those brokers looking to diversify away from the banks, needing extra leverage, such as senior and mezzanine finance as well as lower presales, the non-bank sector offers that diversity. “That’s something that will help brokers offer more options to their clients.”

Bannister argued that not a lot had changed in the last 12 months. “In my view, if you’ve only just adapted to current market conditions recently in the last 12 months, you’ve missed a significant opportunity,” he said.

“The market dislocation started off three or four years ago around COVID time, and it’s been the perfect market for a non-bank for a whole host of reasons.”

Bannister said the opportunities for nonbanks had started when banks “pulled in” when it came to finance. “That’s our traditional market. In the last three years, our addressable market has increased significantly on the back of that.”

For non-banks and brokers, it was not about adapting in the last 12 months but continuing to show their value propositions.

Bannister agreed that there were more brokers attempting to use non-banks for the first time, but 80% of La Trobe Financial’s business came from brokers who had discovered the benefits of using its services a lot longer than 12 months ago.

Saoud said, “The non-bank sector plays a vital role in the Australian financial system,

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VALUE AND MARKET SHARE OF BROKER BUSINESS GOING TO NON-BANKS Value of non-bank lending

Non-bank lending as % of new home loans originated

$6bn

12% 11%

$5bn

9.6%

9.2% 9.4%

10%

8.7%

8.3% 7.6%

$4bn

9%

8.3%

8%

5.5%

$3bn

6.0%

6.3%

5.8% 5.6%

6.3%

6.5% 6.4%

7%

5.3%

6.3%

6%

5.0% 5%

5.0% $2bn

3.5%

3%

$0bn

$2.53bn

$2.06bn

$3.96bn

$4.31bn

$5.53bn

$5.68bn

$5.11bn

$4.90bn

$4.91bn

$3.11bn

$3.39bn

$3.26bn

$2.67bn

$3.11bn

$3.82bn

$3.64bn

$3.55bn

$3.37bn

$3.58bn

$4.21bn

$4.50bn

3.0% $1bn

4%

Jul– Oct– Jan– Apr– Jul– Oct– Jan– Apr– Jul– Oct– Jan– Apr– Jul– Oct– Jan– Apr– Jul– Oct– Jan– Apr– Jul– Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep 20 22 23 23 21 22 23 18 19 19 20 21 22 18 19 19 20 20 21 21 22

2% 1% 0%

Source: MFAA Industry Intelligence Service 17th Edition report, 1 April 2023–30 September 2023

fostering financial inclusion in a market where the real-life needs of borrowers are not always met by mainstream banks.” He said he had seen a continuous improvement in the market for non-bank lending since COVID. “There’s been a strong continuation of the

wants to maintain an agile nature as a competitive advantage – developing products, working with brokers, understanding the gaps and providing holistic solutions.

Prior said experienced brokers had seen their businesses continue to grow in the

“La Trobe Financial, like many other non-banks, doesn’t try to compete head to head with the banks. We instead target those overlooked or underserved niches” Cory Bannister, La Trobe Financial changing demographics of your traditional borrower,” Saoud said. “For us, it’s all about a purpose-led solution. How do we continue to fill the gap where the banks aren’t? How do we continue to innovate in the space – whether it’s through our product, through policy, service or experience?”

Pepper Money, like other non-banks,

post-COVID period, but the last 12 months were an opportunity to stop and reflect on their business and make some changes.

“That’s an area where we have supported brokers. We [ORDE Financial] are working with a couple of big groups on how we could help them speak to their referrer networks about valuable new opportunities

or solutions that have become available since the last time they were in contact,” he said.

Smith said Liberty had seen a significant number of new brokers sending business its way.

“The focus for us in recent times has been education – responding to that first-time broker user,” he said. “It means that the sales conversation out in the market is a longer but a deeper conversation, rather than, as Stephen says, shake the tree and the deals will come; now it’s an education conversation.”

D’Vaz said the onus is also on the broker to find out more. “We’re providing the platforms for them to come and learn, and trying to get them to do that can be difficult. We can enhance our products, policies and pricing, but they’ve got to be proactive.

“They need to say, ‘I want to diversify my proposition; I want to learn more. What are you guys offering?’ They’ve got so many options and so much choice now.”

Smith said that because non-bank deals are often less frequent for brokers, the challenge is to maintain visibility and recall. “We have to

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but it’s simply a self-employed loan with a different type of security, while SMSF has become a straightforward, repeatable loan product to access. Once we break it all down and explain it, brokers quickly grasp it,” Wright said.

“That’s why we’re focused on broker education, changing the way we communicate with brokers, demystifying SMSF and commercial and really helping them along that journey.”

Lemon said five years ago when talking to a broker, most of them would say, “I don’t write non-bank”.

“Today, it would be very hard to find a broker that would say, ‘I haven’t written a non-bank deal in the last 12 months’,” he said.

‘That’s probably the best part for all of us.”

“For a broker, just one product isn’t going to be enough any more.

Diversifying and broadening your expertise and exploring a full range of opportunities is what’s needed to stay competitive” Royden D’Vaz, Assetline Capital work harder to stay front of mind like a major might for a straightforward deal.”

MacRae said Bluestone has seen a rising appetite for brokers wanting to learn and diversify. “We’ve seen what we call active brokers double in the last 12 months.”

Since Bluestone launched SMSF lending about 18 months ago, more than half of the brokers that had written SMSF loans with the non-bank had not written deals with Bluestone previously. “All of those, on average, have

30

brought us another non-SMSF deal, so they are expanding and using it as entry points,” said MacRae. Wright said diversification had been around for a long time, but there had been no change to “how we talk about commercial and SMSF”. She said she was aware of this, having worked in the residential space for 22 years and then moved into commercial and SMSF at Thinktank.

“At first, commercial may seem complex,

The MFAA Industry Intelligence Service’s latest report shows that non-bank market share was up 0.5%, rising to 3.5% for the quarter, but the value of non-bank loans fell by 19.6%. From your own data and observations, how are non-banks faring when it comes to competing with banks for broker share of loans, and how are you differentiating your offering in terms of products, pricing and service to brokers and clients?

Paterson said it’s important for non-banks to have diverse options, such as product niches, policies and serviceability criteria, that can help secure finance to meet customers’ needs.

“There are more customers falling outside the square [of banks], and as a broker, if you can educate and provide a solution, there’s more competition in the non-bank space than there ever has been,” he said.

“There’s a lot of different options for brokers and customers to consider, and I think that’s where non-bank growth will continue to come – writing those products and policies that the banks don’t.”

Prior said it was difficult to quantify and compare ORDE Financial’s data compared to the MFAA’s findings, as the company has seen positive growth since its launch four years ago. Since 2020, ORDE Financial

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TOP 8 AI IMPACTS BY SIZE 500 or above employees

Fewer than 500 employees

60% Larger businesses were more likely to find AI improved their customers experience, such as through chatbots

46% 1.4x

40%

32%

37%

35%

1.7x

29%

22% 20%

24%

23%

25%

19%

positive impact

negative impact

15%

14%

2.5x 15% 10%

10%

8%

0% Improved efficiency through the automation of repetitive tasks

Increased productivity

Improvements in decision-making through better data analytics

Improved accuracy of tasks

Reduced cost

Improved customer experience through personalisation and/or support through chatbots

Integration challenges with existing technologies

Raised data/ privacy concerns

Source: CPA Australia Business Technology Report 2024 – a survey of technology usage by businesses in Australia, New Zealand and South-East Asia conducted from June to July 2024

has settled around $6 billion and is still in a growth phase, with broker use and volumes increasing.

As a new entrant to the market, Pallas Capital’s growth over the last few years has been significant, Arnold said. The non-bank has enjoyed good brand awareness among brokers and has also ensured its products and pricing are flexible enough to attract brokers.

Bannister said the first point to make about La Trobe Financial was that, like other non-banks, it doesn’t try to compete with the banks. “We know where we sit in the market – we target those overlooked or underserved niches,” he said.

The total addressable market for nonbanks has increased significantly, and there are a few reasons for that, Bannister said.

These include regulations on banks, and banks choosing to go after automatable mortgages.

While non-bank lending volumes at the top-line level might have fallen, this is market-driven, he said.

“It’s been a pretty quiet period in terms of sales and purchases in the market over the last 12 months,” Bannister said. “We’re at the peak

32

of the rate cycle; people’s hands are in their pockets, but I think generally, as a proportion, non-banks are certainly doing well.”

D’Vaz said the MFAA figures don’t quite match what is happening. “Looking at the non-bank sector, I think we do a pretty good job. We’ve got a very high-touch strategy – the BDMs do a great job of getting brokers engaged and hold their hands and walk them

table were a diversified group, competing across a wide range of asset classes.

“If you look at that fuller picture, I’d say the share of voice that the non-bank sector has claimed over the last 12 to 24 months would have increased much more significantly than half a per cent,” Smith said.

Bannister said non-banks also increase the size of the pie available for mortgages written

“Five years ago most brokers would say, ‘I don’t write non-bank’. Today, it would be very hard to find a broker that hasn’t written a non-bank deal in the last 12 months” Tim Lemon, MA Money through the process and workshop a deal.

“We don’t ever compete with the banks; we don’t want to. What we do, we do it very well.”

Smith said the MFAA provides a lens into the sector, but perhaps not the widest of lenses. The non-banks represented at the

in Australia. “Without the non-banks writing what they write, the pie just shrinks.”

La Trobe Financial is not interested in shifting the pie by heading to a broker’s office and asking what other non-bank lenders are doing and trying to claim a slice of that.

Instead, Bannister said it is laser-focused on

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areas of the market that aren’t being serviced by other non-banks.

“You’ll find that over time that if you can close enough of those gaps, the whole market grows with you,” Bannister said.

While non-banks are shifting some market share from banks on the edges when it comes to serviceability and policy, Bannister said non-banks are focused on catering for areas of the market in which the banks have no appetite.

D’Vaz said he believed that much of the residential broker market share of almost 74% had been driven by non-banks because their distribution strategies are predominantly through brokers.

MacRae said he also doubted the MFAA’s numbers because Bluestone is in a growth phase, bringing new brokers in, providing better education and delivering solutions.

“I don’t know how many conversations I’ve had with brokers in the last 12 months, where they’ve said, ‘I’ve been letting business walk by my door’, and now all of a sudden they’re going, ‘I’ve got an opportunity to do things differently [with a non-bank].”

Michaels said brokers are now used to dealing with all the non-banks represented at the roundtable. “Someone writes an SMSF deal [with a non-bank], and three months later they’re also writing another deal, such as a light-doc or a low-doc type deal.”

Consumers are also more familiar with the non-banks now, compared to three or four ago when brokers had to educate clients and explain what non-banks did.

Non-bank growth is happening right now, Michaels said, and he expects that to continue into the future, even when the banks are back in the market, interest rates have fallen and APRA has loosened the buffer.

“There’ll be consumers that will say, ‘take me back to that prime lender’, but then there’ll be others that will say, ‘well, they weren’t there for me when I needed them, so let’s keep going because it’s easier, it’s more flexible [with a non-bank]’, ” said Michaels.

“Yes, I’m paying a premium, but I’m paying

a premium because it adds value.”

Wright said at Thinktank one reason for market share being lost is customer run-off, and this can be due to BID requirements.

“Mortgage brokers are dedicated to ensuring the best interests of their clients, as they should be. What we are observing is that most banks are actively in market with very strong, easy refinance offerings for the most standard deals, so it’s very hard for us to compete in that space,” said Wright.

The broker has to do the right thing by the customer, which may mean moving them to a bank if they can get a better deal for the client and that meets BID. Saoud said non-banks had struggled a few years ago when the RBA provided a term funding facility (TFF) to the banks, giving them a competitive advantage. “As part of that, they [banks] had the cashbacks, where they did grow share against the non-banks.”

However, now that the TFF has ended and cashbacks have fallen away, there is a more even playing field for non-banks when it comes to the cost of funds, he said. “This makes us much more attractive to our brokers

and borrowers now when the biggest differentiator isn’t necessarily price, but rather the experience and solutions we offer.”

Non-banks’ solution-led offerings appeal to brokers and consumers for several reasons, Saoud said. “We create trust, transparency, accessibility, and provided we continue to do that as an industry, we’ll see the non-bank sector carry on growing and thriving.”

Broker question from Stephen Michaels: What are the key considerations that non-banks make or think about with their product offerings when knowing they are competing against the big four banks? How do you continuously work on setting yourself apart?

The key, said Arnold, is to not get involved in a pricing war with the banks, because nonbanks can’t win.

“It’s a combination of efficiency and turnaround times and adjusting your policy and combining that with pricing against other non-banks. Combine those three elements – turnaround times, credit policy and pricing;

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that’s where your competitive advantage lies,” Arnold said.

At Thinktank, it’s all about understanding the customers it serves, 95% of whom are selfemployed, Wright said.

“It’s about listening to brokers to innovate with products and enhance our policy. When you’re working with self-employed people, it’s about understanding that they all have unique circumstances and needs, and being able to offer that broad range of solutions, whether it be commercial lending, SMSF, residential or our latest private lending offering … and delivering service for the broker as well.”

Lemon said MA Money also focuses on technology – to make sure brokers provide an answer to the customer as quickly as possible. And it’s important to look at postsettlement services, such as internet banking and free features that can be offered to ensure customer retention.

“The longer that customer stays with you, the happier the broker,” he said.

Prior said non-banks should also focus on talking to brokers about products or services that are missing and what gaps they can fill.

“Education has been spoken about, but it comes back to experience,” he said. That means non-banks having the “right people taking the right phone calls and sending the right emails” to ensure that brokers are aware of the difference between non-banks and the banks.

Michaels highlighted some of the ways non-banks do things differently from banks, especially as one in 25 deals is a non-bank deal. He said the service brokers receive from non-banks is completely different to that of the banks. “It’s because non-banks appreciate that you are having to deliver a service before you then deliver a loan product.”

Non-banks market their products in a more personable way than the big banks, Michaels said. “As a broker, you feel like you’re actually dealing with a human being.”

With banks, relationship managers change often, creating a lack of consistency. “As soon as you submit your deal to the bank, you lose

34

“We’ll always look at the individual deal and assess it. It’s fundamental to how we really differentiate ourselves. Banks will have their 10-minute mortgage, but we’ll find the solution for that complex customer” Tony MacRae, Bluestone Home Loans all control,” Michaels said. “It’s the scariest thing in the world when you hit submit.”

Conversely, with a non-bank such as MA Money, he said he had known Lemon and written deals with him for 12 years and knew what to expect, compared with a bank BDM he had never met.

Paterson said the strength of non-banks’ BDM teams helps brokers. “Resimac’s view is to help a broker grow their business. We spend time with them getting an understanding of their business and customers. Our BDMs support and educate when it comes to writing that next loan, streamlining the application and credit experience, helping brokers to spot applications likely to get approved or not.

“But also, if they’re faced with a hurdle, the BDM often goes in to bat for their broker.”

Smith said, in answer to Michaels’ question, it was important to note that what the market saw as non-traditional lending a few years ago, and sees now, could become mainstream tomorrow and vice versa. The employment economy is shifting so rapidly that non-banks need to adapt.

He said Michaels will be seeing different customers now to the ones he saw five years ago. “There used to be a quarter of a per cent of the economy represented by those customers, and now there’s 10 times that, and in a couple of years’ time it’ll be five times that again.”

Michaels said he always tells his Catalyst team that, due to the changing nature of rates, policies and property markets, if they are using the same sales pitch and approach to a

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client that they had used three months ago, it will be stale.

Customers are also changing how and when they communicate, with Michaels’ clients preferring WhatsApp to emails. “I’m taking phone calls at 8.45 p.m. at night because our

type of data is most important … so that when we do roll out [in the] AI world, we’re better equipped,” Lemon said.

D’Vaz, who has been in the non-bank sector for a number of years, said he had a different view when it came to technology.

“If you don’t continue to evolve your tech, you’re going to get left behind quickly. [It’s about] a continuous review to improve efficiencies, speed to yes, that admin that frustrates brokers and customers” Chris Paterson, Resimac clients are really busy professionals. You’ve got to just shift with your customers.”

Brokers need to be dynamic, shifting with the changing market and serving customers’ needs accordingly, Michaels said.

He pointed out that, as a Catalyst broker, he has more in common with non-banks than banks. “Non-banks are thinking, ‘I want to be customer-focused, I want to be agile, and I want a service where no other lender can service’ – that’s a broker; you might as well be a broker.”

Prior said this was the second time he had heard a broker compare their own business to a non-bank’s.

How are you investing in technology and AI to improve credit decisioning, loan processing and turnaround times? What role does broker feedback play in improving tech and your overall offering?

Lemon said that, in response to broker feedback, MA Money had invested heavily in technology to make sure turnaround times were as quick as possible. Its use of AI is in its early stages, but this will ramp up in 2025, with MA Money focusing on data collection and storage.

“We know that feeding AI with the right

“We differentiate ourselves with the human element,” he said. “I think it’s important to have both. We are constantly improving and building our technology offering, but that human element is what makes us different.

“We look at every deal on its merits, individual characteristics of the borrower, how can we make this into a deal? No matter what data we feed into our technology platforms, you’re not going to replace an assessor looking at the deal.”

Wright said it was about balancing people and technology. “We’re looking at what technology we have now or upcoming that can provide our customers and brokers outstanding service and how that can complement the incredible people we have in our business.”

While there is a lot of focus on tech in the residential space, Wright said the commercial process also needs attention, especially if nonbanks want to see more residential brokers diversifying into commercial lending.

“We’re in the process of a deep dive on how we take learnings from the residential side of the business and implement those into the commercial and SMSF parts of the business to make it easier and faster for brokers to do business with us.”

HOUSING AND BUSINESS CREDIT: BANKS VS NON-BANKS* Banks %

Non-banks

Housing growth

Business growth

Six-month annualised

Six-month annualised

%

20

20

0

0

%

Non-bank share of housing credit

%

Non-bank share of business credit

10

10

5

5

0

0 2012

2018

2024

2012

2018

2024

* January 2008 to July 2024. Includes non-bank lenders with more than $50 million in assets Source: RBA Financial Stability Review, September 2024; APRA

36

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Month % change

Year % change

18.64

0.1

13.1

Construction of dwellings

1.73

1.7

12.0

Purchase of newly erected dwellings

1.04

-0.2

8.7

Purchase of existing dwellings

14.71

0.3

13.2

5.21

-3.3

8.8

11.57

-1.0

29.5

Owner-occupier Total housing

First home buyers Investor Total housing *Seasonally adjusted

Source: Australian Bureau of Statistics Lending Indicators, September 2024

Wright added that the feedback from brokers was that by giving commercial business to banks instead of non-banks, they could also lose the client when it came to residential loans.

Arnold said there were big opportunities for non-banks to use AI and process-driven systems implemented in the smaller SME non-construction space, where standardisation could occur.

Pallas Capital’s strength, when working with large construction projects and pre-development products, is in providing bespoke, dealby-deal tailored solutions managed by skilled staff, he said, because those transactions can be particularly tricky. He added that using AI was a long way off for structured finance and senior mezzanine transactions.

Wright said that as an industry we should be looking closely at the amount of customer data being communicated via email, in terms of security.

Saoud agreed that it was all about balance, with non-banks growing due to the human connection. In its approach to technology, Pepper Money considers the most important touchpoints that brokers and customers value.

That means looking at the human elements

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that need to be maintained and leveraged, such as credit assessments and engagement between credit and brokers, and using technology to automate or leverage AI to support efficiency and process in non-value tasks.

that’s allowed us to more than halve our turnaround times.”

Bluestone is about to embark on the digitisation process, re-platforming its origination system in partnership with companies that

“The changing economy has highlighted an opportunity to further support brokers with the education and tools they need to service their clients and grow their business more proactively” Lee Prior, ORDE Financial “We believe that brokers want confidence and certainty in that credit assessment process,” said Saoud.

MacRae said Bluestone had been on a journey for the last 12 months, with the first part known as “eliminate and simplify”.

“There’s no doubt we asked for too much information, and our processes were too complex,” he said. “So we spent about six months just stripping that stuff out, and

provide AI solutions. “That will allow us to make quicker ‘yes’ decisions,” MacRae said.

“What I don’t want to do, though, is lose the relationship element of our business because, at the end of day, we’re all in the relationship business.”

The goal is to automate, providing almost instant decisions for about half the non-bank’s loan deals. MacRae said data would be used to make better decisions but not to make quick

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‘no’ decisions. “We’ll always look at the individual deal and assess it ... it’s fundamental to how we really differentiate ourselves in the marketplace, because the banks will have their 10-minute mortgage, but we’ll find the solution for that complex customer.”

Smith said it would be difficult to find any financial services business that was not actively investing in technology, digitisation or AI. “We are entrusted with more data than just about any other industry, apart from maybe medicine … you can use that to harness what Tony’s alluding to, which is intelligent conversations.”

Broker feedback is crucial, Smith said, and all non-banks listen to it, but this feedback can also be gained en masse in data form. “You can leverage that for intelligent conversations with your broker partners, for your sales team to be better equipped to have a quality conversation. Secondly, you can use it to clean out the ‘$1 tasks’ from valuable humans’ working day, so that they can have the ‘$1,000 tasks’ in their in-tray.”

Prior said everyone was on the same page – it’s not about taking human interaction

“The non-bank sector plays a vital role in the Australian financial system, fostering financial inclusion in a market where the real-life needs of borrowers are not always met by mainstream banks” Barry Saoud, Pepper Money away but allowing more time for the people who need to talk a broker.

The digital team at ORDE Financial is the lender’s third-largest team, and the focus remains on providing fast solutions to brokers, Prior said. “If SLAs aren’t up to speed, if we’re making it difficult, then brokers will walk, and technology plays a critical role in this.”

Paterson said brokers and customers have

a base framework of digital functionality that they expect businesses to use as a minimum.

“If you don’t continue to evolve your tech, you’re going to get left behind fairly quickly.

And what comes with that is continuous process review to improve efficiencies, speed to yes, those little bits of admin that frustrate brokers and customers.”

With brokers, it’s all about having the confidence that they can move on to the next deal,

Paterson said, while customers want to be able to bid at an auction or get that property squared away.

At Resimac, digital functionality, process efficiencies and reviews and broker feedback all play key roles, he said. “We send brokers surveys monthly, and we capture that data across a number of different things – BDM activity and responsive time performance, credit assessment process; those sorts of insights and research are invaluable too.”

Wright said brokers were generally very candid in providing feedback. “They will tell you what you’re not doing well, and you can find common themes if you spend some time on the road with brokers. It’s great to know where we’re doing really well but also need to know where we must improve.”

Michaels said that as long as any project fed back to the customer, it was a good project.

Some businesses have cool, high-tech ‘gamified’ interfaces for customers to enter data.

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NON-BANKS ROUNDTABLE 2024

“The customer doesn’t want that,” Michaels says. “The customer wants an answer, and they want confidence to get to wherever they’re going.”

A fantastic technology investment gives salespeople more time to go out and see

On a different note, Bannister said one topic that hadn’t been discussed was cyber­ security. “A sizeable part of our tech invest­ ment now relates to cybersecurity and making sure that it’s as robust as it can be.”

He said Wright had spoken about the

“We are entrusted with more data than just about any other industry … you can leverage that data for intelligent conversations with your broker partners, for your sales team to be better equipped to have quality conversations” David Smith, Liberty brokers and brokers more time to educate their referral partners and clients, achieve outcomes for clients and service their referral partners. “Keep drawing that line back to customers, and I think you’ll continue to do an amazing job in delivering that awesome service,” said Michaels.

security of PI data and the number of PDFs “that fly around” the industry between brokers, offices, customers and lenders, which puts the industry significantly at risk.

“The financial sector is the most targeted area for cybercriminals and cyberhackers.

And the stats that you see come out of ASIO

PRIMARY SOURCES OF DATA BREACHES

System fault 3%

Human error 30%

Malicious or criminal attack 67% Source: Office of the Australian Information Commissioner, Notifiable Data Breaches Report: January to June 2024

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about the levels of attacks on Australian busi­ ness and financial services is eye-watering, and it’s a real worry for all of us.”

Bannister said lenders are investing a lot of money in reallocating tech resources towards cybersecurity “to ensure we are as protected as we can be”. He pointed to recent examples of businesses that had been hacked, which put them offline for a considerable period, meaning they were unable to take calls and lost access to customers’ loan balances.

Equally important is protecting broker­ ages, putting in place secure portals to upload documents, said Bannister.

What will happen to non-bank lending activity when interest rates eventually start falling, and how will you pivot to this new environment?

Arnold said the answer was continued growth because non-banks did not compete head-on against banks on rates. “It’s flexibility, policy; it’s customer service, it’s efficiencies. There’s plenty of growth. If you compare Australia to rest of the globe, we’re still well behind, but we are catching up more recently when it comes to the non-bank sector.

“International investment into our nonbank sector is stronger than ever. It’s a signal that there’s increasing interest and atten­ tion on Australia globally. Other players are waking up to the potential for growth here.”

MacRae said he agreed absolutely about not competing with the banks. “We don’t compete on price; we compete on solution.

The economy and people’s employment habits will continue to change. We see more and more customers fall out of the mainstream, and, as long as we focus on solution first, the last conversation we ever have is price.”

Michaels said customers would become accustomed to rates that started with a six from a non-bank.

Customers for the last 10 years had only known rates that had gone down, exacerbated

by COVID. “Everyone in this room probably knew that a 2% rate was not normal, but a lot of consumers didn’t know that.”

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“Brokers are generally candid in their feedback. They’ll readily point out areas that need improvement. It’s great to know where we’re doing well, but equally as important to know where we can enhance our products and services” Belinda Wright, Thinktank Clients who had been used to a sub-3% rate from 2019 are now shocked by interest rates that are double that.

“As soon as rates start to come down, the rates that are charged – which is the perceived risk of going outside of the box to find that solution – will just become more palatable,” Michaels said. “And it would be an even easier conversation to say, this is the right decision because of x, y and z.”

MacRae said this puts a real onus on nonbanks to work closely with brokers to help educate customers. “You’re right – consumers’ expectations will shift. I’ve got an entre-

preneurial mate that has had a business for 12 months and thinks he should be getting a loan to buy a property in Sydney with a five in front of it.

“I told him he’s never going to get that, but the opportunity cost of waiting for two years to try and get something is huge.”

At Thinktank, more funders mean being able to increase loan limits, said Wright.

“Brokers have said, ‘if you had this and this, you capture the market’.”

Having access to funds overseas helps keep the non-bank ahead of the banks. Wright said it means moving faster, meeting customers’

needs and helping brokers where there are gaps and traditional banking options aren’t available.

Wright said these funds are also being provided a lot more quickly than in the past.

The reduction in banks’ cost of funds is also good for non-banks, said Arnold. He agreed there is more interest in non-banks from funders offshore, and this would continue as non-banks continued to grow in Australia.

“Recently, Pallas Capital dropped its rates by 50 to 70 basis points outside of any RBA movement. This is a result of consistent growth in our loan book over a number of years and a lot of work behind the scenes between our product team and our institutional capital partners to ensure we are continually providing brokers with one of the most competitive non-bank products in market,” Arnold said.

“It’s a good time to seek funding at the moment,” said MacRae. “Locally and internationally, the markets are keen to do business with people like ourselves.”

Lemon said 10 to 20 years ago, nothing ever changed when it came to loan policies and maximum loan amounts. “I remember maximum loans at $1.5 million for a long, long time in that non-bank space, and how quickly in the last three years it’s gone from $1.5 million, $2 million to $5 million.

“The next three years, there’ll be changes at breakneck speeds. It’s going to be very exciting, and we’re all going to benefit.”

Wright said it was important to keep brokers updated by having people out on the road having the right conversations and helping brokers build their businesses.

Michaels said the banks, particularly the big banks, have kept their margins on loans quite tight, and as the cost of funding and the cash rate come down, they probably won’t be able to offer such shiny, attractive rates to customers.

“Non-banks are going to stay strong in that particular tickbox, because you don’t have to compromise.”

Wright said many customers get annoyed when the banks don’t reduce their rates in line with the cash rate. “We’re regularly hearing

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NON-BANKS ROUNDTABLE 2024

that the sentiment isn’t great with the largest players, so it’s an opportunity for us as nonbanks to talk to those customers about how we can help them.”

Bannister said it will be interesting to see what happens when interest rates start to fall. “Interest rates in isolation are not perfectly correlated to non-bank lending activity; in fact, we don’t compete on price and instead target underserved niches, so rates alone are unlikely to materially influence loan allocations.

“However, as rates start falling, we think market activity will increase as buyers that have been sitting idle become active quite quickly; you could also see borrowing power increase, which will be helpful, so there are some bright prospects ahead.”

Smith said that if a mild reduction in the cash rate were to occur, this would be posi-

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“Non-banks market their products in a more personable way than the big banks.

And as a broker, you feel like you’re actually dealing with a human being” Stephen Michaels, Catalyst Advisers tive because it would stimulate the purchase market. “But if we see a more substantial move from tightening through neutral into easing, that’s an orange light on the dashboard for every industry, because there’ll be an underlying driver as to why the RBA has moved to easing.”

The goal should be long-term stability, which is the RBA’s core mission, Smith said.

“The consumer media’s focus on ‘everything will be fine when rates are all cut’ is not constructive and not well informed, but it’s what all of our respective customers are exposed to across a range of media all the time.”

The ideal is a middle ground that provides profitability and sustainability and an opportunity for a good level of lending activity.

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21/11/2024 11:12:43 amPM 26/9/2024 3:29

SPECIAL REPORT

100 BROKERS 2 0 2 4 Australia’s Top 100 Brokers

CONTENTS

raise the bar with a $123 million

Feature article .............................................. 46

loan threshold

PAGE

Methodology ................................................ 47 Top 100 Brokers 2024 ................................ 52

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SPECIAL REPORT BUSINESS STRATEGY

TOP 100 BROKERS 2024

POWER PLAYERS AUSTRALIA’S TOP 100 BROKERS have tapped into the robust demand for housing finance, effectively serving a growing clientele by collectively writing $16.6 billion in home loans in the 12 months to June 2024.

To identify 2024’s top performers, MPA invited brokers to submit the total value of

loans they had written over the past financial year and the number of loans to determine their average loan size. The final list was ranked based on the value of loans written.

According to the Australian Bureau of Statistics September 2024 bulletin, the value of new loan commitments in the broader market showed that:

TOP 100 BROKERS BY YEARS IN THE INDUSTRY

23

Less than 5 years

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6–10 years

19

11–15 years

“In an often gruelling, high-pressure industry, I love the opportunity to win and retain clients with complex lending needs, presenting clear and considered solutions tailored to their needs” Tom Hawley, Azura Financial

10

16–20 years

More than 20 years

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6

• total housing fell 0.3% to $30.2 billion in September following a rise of 2.1% in August, and was 18.9% higher compared to the previous year

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FROM THE SPONSOR

Razia Khan General Manager, Third Party Banking, Commonwealth Bank

CommBank is proud to continue our sponsorship of MPA’s Top 100 Brokers for 2024. We want to congratulate you on setting the standard of excellence within the mortgage broking industry and delivering exceptional customer outcomes. We are dedicated to giving you more confidence with CommBank, empowering you to achieve more for your clients.

At CommBank, we strive to deliver reliable, accessible, transparent and adaptable products and services,

• owner-occupier housing rose 0.1% to $18.6 billion and was 13.1% higher compared to the previous year • investor housing fell 1.0% to $11.6 billion and was 29.5% higher compared to the previous year Throughout MPA’s survey period, the best mortgage brokers recorded an average of 253 loans each, highlighting that high volumes of residential loans are achievable through their expertise in these areas: • delivering tailored, high-level service and solutions • maintaining a customer-centric approach in all facets of the business • applying deep knowledge and industry expertise • managing cases rigorously and efficiently • building industry-leading reputations for excellence At the top of the chart is Catalyst Advisers’ Stephen Michaels, who ranked No. 1 after writing $381 million (read more about the top broker on page 52).

“Every few years brings a shake-up in the finance industry, and I’ve seen at least four

helping you to continue delivering excellent customer outcomes. We would like to recognise all of the Top 100 Brokers. Thank you for your incredible commitment to your customers, providing them with the best experiences possible.

Congratulations once again, and good luck for the remainder of the year and into the next.

different meaningful changes during my time,” Michaels says. “It’s all about appreciating that things will change on a regular basis, which keeps me on my toes and second-guessing everything we’re doing to ensure it’s the most effective.”

MPA’s 2024 data shows that while the total value of home loans written decreased by approximately $800 million compared to the previous year, the barrier for entry onto the list increased from $113 million to $123 million this year.

All of this year’s Top 100 mortgage brokers have set themselves apart by putting their clients at the centre of everything they do.

The best mortgage brokers thrive in a competitive market Tom Hawley and Ben Hawley – Azura Financial Success runs in the family for the brothers, who co-founded the Double Bay, Sydney brokerage in 2016. They featured in the Top 100 in 2023 and made the list again this year.

Together with a 55-member team, including 12 mortgage brokers, Azura Financial has gone from strength to strength. Its achievements include:

METHODOLOGY To find the Top 100 Brokers in 2024, MPA asked brokers across the industry to submit the total value of loans they had written over the last financial year. Brokers were also asked to state the number of loans they had written so MPA could determine their average loan size.

The Top 100 list was determined and ranked based on the value of loans written between 1 July 2023 and 30 June 2024.

• Brokerage of the Year (Over 20 Staff ) at the 2024 Australian Mortgage Awards • Best Customer Service (Business) at the 2024 MFAA National Awards • Best Large Non-Franchise Office at the 2024 Better Business Awards • a diverse portfolio of over 3,000 clients • over 550 five-star Google reviews of the brokerage The brothers say that the company’s purpose is to make lending a six-star experience, underpinned by their belief

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SPECIAL REPORT BUSINESS STRATEGY

TOP 100 BROKERS 2024

TOP 100 BROKERS BY STATE

NSW

56 brokers; top value: $381m

WA

4 brokers; top value: $205m

Qld

14 brokers; top value: $227m

SA

1 broker; top value: $152m

ACT

5 brokers; top value: $203m

Vic

20 brokers; top value: $226m

that exceptional service leads to exceptional outcomes; that they should only give advice they would give to themselves; and that success means knowing what to do and doing it quickly.

For residential broker and director Tom Hawley, who ranked No. 5 after writing $267 million, serving a client list of largely time-poor, ambitious professionals and business owners in Sydney’s Eastern Suburbs, Inner West and Lower North Shore is an opportunity to shine when tailoring solutions to complex lending needs.

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“While I still write loans as well as help run the business, this never comes at the expense of hands-on, personalised engagement with my clients,” he says.

Director Ben Hawley, who ranked No. 26 after writing $184 million, notes that Azura Financial achieved a significant milestone in 2024 by settling $1.148 billion, an increase from $1.028 billion the previous year, while maintaining a 0.5% average arrears rate.

“Our aim is to provide the best possible lending experience we can, as we firmly believe great service leads to great results,” he says. “I

enjoy being part of a team that values collaboration and is committed to ensuring our clients feel supported throughout their journey.”

The siblings’ strategies that contributed to writing high loan volumes over the past year include a long-term client-centred approach focused on personalised solutions, consistent communication and leveraging the support of their top-tier team. They emphasise that their industry expertise, watertight processes and reputation for unflinching high standards set them apart in an increasingly competitive space.

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The brothers have differentiated themselves. For example, Tom’s attention to detail has ensured he has never had a complaint or failed settlement, bolstering both his professional standing and loan volumes. He has also built an audience of over 30,000 followers across LinkedIn and Instagram, achieving exceptional reach by sharing informative content with an engaging perspective.

Meanwhile, Ben’s deep knowledge of lender policies enables him to navigate the most complicated scenarios with creative solutions, such as securing policy exceptions.

The Hawleys also have a winning game plan to manage client relationships. Through proactive repricing and consistent communication, Tom has retained close to 100% of existing clients as he prefers to renegotiate before refinancing, resulting in an average loan life of 4.1 years versus the market average of three years.

“As part of my unique value proposition, I refer clients to other service providers in a trusted property-purchasing ecosystem, including top-of-class financial planners, buyers’ agents, solicitors and accountants,” he says. “We manage this as a sort of concierge service that ensures clients get all the help they need through their property journey by completing a preferred contacts list up front.”

After purchasing a loan book in 2023, Ben was surprised by some of its high interest rates because previous brokers had not kept track or been in touch to help clients refinance. He committed to proactively helping them reprice, an initiative carried out throughout the brokerage, resulting in him repricing his book of over 500 clients over six months, achieving over $1 million in total interest savings.

“To make this possible, I use Azura’s proprietary book management system that logs every loan I’ve ever settled in a data-

“What I appreciate most about working in this industry is the chance to support clients every day and help them achieve goals they might not have thought were possible” Ben Hawley, Azura Financial

base, including the settlement date, account number, current loan balance and live interest rates,” he says. “Each loan event triggers a calendar invite to the client so we can discuss the next move.”

Loui Daoud – DOT Financial Cracking MPA ’s Top 100

Broker list is an achievement that this top broker has been striving towards.

As director and the driving force behind the boutique brokerage, Daoud, who ranked No. 92 after writing $126 million, has embraced the idea of scaling down DOT Financial’s operations instead of up. He has one associate to handle back-end administration, freeing up time for him to spend with clients and putting together solutions that achieve the best outcomes.

“It’s almost like reverse engineering,” he says. “I’m close to my clients, and I love that because it’s all about relationships. I like dealing with them and providing that personal touch.”

His clients, in turn, have proven to be passionate advocates in boosting his growing customer base solely through word-of-mouth referrals. He doesn’t advertise or leverage social media.

Three main focus areas have propelled Daoud’s top performance, including:

• knowledge and expertise gained over 15 years in the industry • personalised solutions and services delivered based on honesty and transparency • long-term client relationships nurtured and maintained With almost a 100% conversion rate, his hands-on, quality-over-quantity approach has demonstrated Daoud’s successful philosophy that a smaller, more refined operation can yield higher client satisfaction and loyalty.

By prioritising a connected client experience, Daoud has differentiated himself from competitors striving for growth and scale.

This mindset also enables a healthy worklife balance, allowing him to put his best effort forward for clients.

“I enjoy my scaled-down approach because it works for me,” he says. “I like being in the trenches and right in the middle of the business.”

Being selective about clientele allows Daoud to maximise the results he can achieve. To maintain strong relationships, he touches base with all his clients at six- and 12-month intervals, facilitated through his CRM system. Part of the check-in includes a call and email, as well as ongoing pricing reviews as they fall due.

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SPECIAL REPORT BUSINESS STRATEGY

TOP 100 BROKERS 2024

“I complement technology with a very personalised approach. I add a human touch to what I do, and that makes a difference; clients appreciate it” Loui Daoud, DOT Financial

“It’s really basic stuff, done consistently and done well,” Daoud says.

• being punctual, available, polite and self-aware • delivering on promises

Adam Rakowski – Ortus Financial For over 20 years, the principal and primary loan writer has been a driving force in Australia’s finance industry, from corporate and commercial banking to leading the broking team at the NSW brokerage he founded in 2019.

Rakowski, who ranked No. 37 after writing $165 million, is part of the Top 100 Brokers for the fifth consecutive year. With a focus on shaping business strategy around growth and acquisition opportunities, he thrives on building and maintaining meaningful relationships with clients and industry partners.

“This is a human business, and having a genuine interest in those you work with, whether they be clients, lenders or suppliers, is half the battle,” he says. “It’s also about long-term thinking. We are not transactional and always think strongly about the future in every client interaction.”

A simple yet profound approach has cemented his reputation as one of the top brokers, known for his commitment to:

Rakowski says, “This comes down to not complicating things. The other part is having the right team around you. We have the best of the best in each role, from the first client meeting until settlement.”

• laser-like focus on getting the small things right • always providing the human touch

• uncover the problem: identify clients’ lending challenges early, such as deposit or income restrictions, to

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Vache Vartanian – Hero Finance The founder and head broker manages a 1,500-plus client portfolio and mentors an eight-person broking team, helping clients achieve their homeownership dreams or guiding those in financial hardship to save their family homes.

Through coaching and teamwork, Vartanian, who ranked No. 47 after writing $155 million, has built an inclusive and supportive culture that enables a healthy work-life balance while boosting client referrals, conversions and settlements.

“Watching new brokers go from ‘zero to hero’ is the ultimate reward for me and keeps me motivated daily,” he says.

Three core approaches have been essential to Vartanian’s success:

manage expectations, build trust and establish expertise • determine the solution: match the client with a lender offering the best rates and fees for their specific needs • define the timeline: set clear expectations for the process duration to meet client and stakeholder goals Vartanian nurtures client relationships with the care and respect he offers family and friends. He has built connections through transparent and honest communication.

“This trust allows us to keep conversations concise, as my clients are confident in the solutions I provide, leading to minimal pushback and enabling me to focus on other important aspects of the business,” he says.

“That said, I always make time for my clients, ensuring I’m available for calls and scheduling more in-depth discussions when needed. I’m also fortunate to have excellent support from my team, especially

“The best part of this industry is interacting with a diverse group of clients and suppliers daily and always learning something new every week” Adam Rakowski, Ortus Financial

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my assistant Louisa, who plays a key role in keeping everything organised.”

How the Top 100 Brokers tackle challenges to maintain momentum Azura Financial’s Tom Hawley helped clients navigate reduced borrowing capacities, grew his settlements in a sluggish market and maintained exceptional customer service.

“To settle $267 million in a challenging market, I grew my team into three separate credit advisory pods, each with a target to lodge 10 to 12 deals a month, and I hired a business manager to help manage all my lead generation activities and referral relationships,” he says.

“By implementing this structure, with the support of our dedicated settlements team, I grew my application lodgments by over $100 million year over year, which then converted to strong settlement growth.”

Ortus Financial’s Rakowski and his team had to be more focused than ever, ensuring their entire client portfolio was getting the best possible deal on their existing loans.

That’s because fewer clients were purchasing properties due to the state of the property market. In a typical year, new purchases would contribute 80% of new business versus 20% refinancing onto a more suitable product. But this past year, those numbers have flipped around somewhat.

“From a personal perspective, and despite being directly involved in lending for 23 years, there are still those occasional moments of self-doubt and low energy,” Rakowski says.

“When you care so strongly about your clients and getting the best possible outcome, it can be emotionally draining.

That said, positive thinking and trusting the process with a view to long-term goals is the best way to snap out of it.”

Addressing client-specific needs A persistent but ultimately welcome challenge for Ben Hawley was the increased complexity of client scenarios in FY24, often via a lastminute referral from a real estate agent or financial adviser after a disappointing experience with another broker.

“To meet the needs of this clientele, I deepened my relationships with key lenders, as the speed of turnaround and achieving approval on outside-the-box transactions were absolutely paramount,” he says.

“I block out time each week to proactively build a strong rapport with the management teams of credit departments, so my deals are prioritised when the situation demands it.”

DOT Financial’s Daoud directs his efforts towards addressing client challenges, such as the rare occasion when a client falls into arrears.

Whatever the cause of the hardship, he works to find solutions that help clients regain stability. His 0.03% default rate on a $320 million portfolio is a testament to his commitment to going above and beyond for clients.

“It’s just paying attention if somebody’s in trouble and offering them options,” he says.

“Working for the bank at the start of my career has enabled me to be competent on the back end in combination with the front end, on the sales and relationship side.”

Enhancing client relationships and expectations From Vartanian’s perspective, Hero Finance clients faced tough challenges in the past year, similar to those of the other top brokers, particularly with rising interest rates and reduced borrowing capacity.

“As rates went up, many clients looked to refinance away from their current banks, so we had to shift into high gear to ensure we not only kept them but also exceeded their expectations,” he says. “We set up plenty of video

“I truly love how diverse and impactful this industry is. I feel incredibly lucky to wake up every day knowing I’m helping people turn their homeownership dreams into reality” Vache Vartanian, Hero Finance

calls, and I reviewed as many client files as possible to ensure they were getting the right products and rates for their specific needs.”

Concerning borrowing capacity, he notes that it was crucial to set realistic client expectations.

Vartanian says, “We worked on a lot of property purchases last year, and one of the key things was helping clients stay focused on what was achievable in the current market. For example, if a property was listed at $1.4 million, we’d always check recent sales to give clients a more accurate picture, ensuring they understood that a sale price closer to $1.6 million was more likely.”

By doing this, the team helped clients submit offers more likely to be accepted by vendors. As a result, Vartanian saw a higher conversion rate on pre-approvals and helped clients avoid the frustrating, endless property search that often comes from unrealistic expectations.

www.mpamag.com/au

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51

21/11/2024 11:16:10 am

SPECIAL REPORT BUSINESS STRATEGY

TOP 100 BROKERS 2024

TOP 100 BROKERS 2024 Name

Company

State

Total value of residential loans 1 July 2023–30 June 2024

Total number of residential loans 1 July 2023–30 June 2024

Stephen Michaels

1

Phone: 1300 411 455 Email: stephen.michaels@catalyst.com.au Website: catalyst.com.au

Catalyst Advisers

NSW

$381,266,000

215

2

Jordan Beh

Insight Property Finance

NSW

$325,400,000

786

3

Chris Bates

Flint

NSW

$320,982,875

412

4

Peter Ha

Mortgage Pros

NSW

$276,577,521

344

Tom Hawley

5

Phone: 0412 876 673 Email: tomhawley@azurafinancial.com.au Website: azurafinancial.com.au

Azura Financial

NSW

$267,140,000

208

6

Parag Dixit

Nfinity Financials

NSW

$260,000,000

450

7

Kin Wong

One Solutions

NSW

$240,825,575

331

8

Deslie Taylor

Mortgage Choice Ormeau, Beenleigh and surrounds

Qld

$227,314,985

551

9

Jonathan Valentino

Catalyst Advisers

NSW

$226,442,037

208

10

Anthony Alabakov

My Mortgage Freedom

Vic

$226,222,000

415

11

Daniel O’Brien

PFS Financial Services

NSW

$223,979,112

283

12

Eric Yeo

Mortgage Pros

NSW

$218,465,202

236

13

Christopher Raymond

Unconditional Finance

NSW

$212,740,389

492

14

Daniel Zarkovic

Loan Market Narellan

NSW

$209,148,939

300

Cathy Liu

15

Phone: 0422 759 789 Email: cathy.liu@goldenfinance.com.au

Golden Finance

NSW

$207,400,000

266

16

Balpreet Bal

Loan Market Bal and Associates

WA

$205,389,285

454

17

Fabio De Castro

Simplify Finance

NSW

$204,930,971

337

18

Gerard Tiffen

Tiffen & Co

ACT

$203,569,520

379

Keith Ho

19

Phone: 03 8849 0131 Email: keith.ho@jkksolutions.com.au Website: jkksolutions.com.au

JKK Solutions

Vic

$191,923,000

232

20

Matthew Oughtred

Francis Rose Finance

NSW

$191,835,500

228

21

Charlie Hemmings

Shore Financial

NSW

$189,969,418

154

22

Kevin Agent

The Australian Lending & Investment Centre

Vic

$188,026,727

378

23

Matt Pongrass

Certe Finance

NSW

$187,790,993

87

24

Michael Xia

Mortgage Channel

NSW

$187,000,000

375

25

Harry Cui

Mortgage Pros

NSW

$185,069,315

224

Ben Hawley

52

26

Phone: 0413 766 888 Email: benhawley@azurafinancial.com.au Website: azurafinancial.com.au

Azura Financial

NSW

$184,736,144

256

27

Paul Hixon

Loan Market New Farm

Qld

$182,133,497

283

www.mpamag.com/au

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21/11/2024 11:17:00 am

TOP 100 BROKERS 2024 Name

Company

State

Total value of residential loans 1 July 2023–30 June 2024

Total number of residential loans 1 July 2023–30 June 2024

28

Atik Shah

Capabel Finance

Vic

$177,000,000

415

29

Rajan Khatak

Domium

NSW

$173,958,620

181

30

Matt Spears

Evoke Capital

NSW

$172,310,000

162

31

Hoa Hong

Mortgage Pros

NSW

$172,262,294

205

32

Mina Gergis

Loan Path Finance

NSW

$169,766,435

101

33

Redom Syed

Confidence Finance

NSW

$169,450,161

344

34

Daniel Gold

Long Property

Vic

$168,740,858

166

Jabsons Finance

Vic

$167,855,000

267

Infinity Group Australia

NSW

$166,622,971

314

Parth Shah

35

Phone: 0430 107 311 Email: hello@jabsonsfinance.com.au Website: jabsonsfinance.com.au Zakee Sheriff

36

Phone: 0415 748 490 Email: zakee.sheriff@infinity.com.au Website: infinity.com.au Adam Rakowski

37

Phone: 0407 455 553 Email: adam.rakowski@ortusfinancial.com.au Website: ortusfinancial.com.au

Ortus Financial

NSW

$165,195,502

96

38

Youeil Shol

Loan Market LMS

Qld

$164,909,140

260

39

Vikram Kataria

Smartmove

Vic

$162,825,728

255

40

Toby Edmunds

Loan Market Razor

Vic

$160,411,902

249

41

Luke Harborne

IFA Mortgages & Finance

NSW

$160,014,971

222

Australian Financial and Mortgage Solutions

NSW

$160,000,000

227

Andrew Hadjidemetri

42

Phone: 0417 411 708 Email: andrew@afmsgroup.com.au Website: afmsgroup.com.au Rachael Howlett

LOGO??

43

Phone: 0447 221 922 Email: rachael.howlett@infinity.com.au Website: infinity.com.au

Infinity Group Australia

Qld

$159,863,369

258

44

Ryan Bain

Property Planning Australia

Vic

$158,501,596

148

45

Evan Christie

Cape Finance Group

NSW

$158,285,997

128

Ming Finance

WA

$158,200,000

367

Ming Yang

46

Phone: 08 9386 6166 Email: ming@mingfinance.com.au Website: mingfinance.com.au Vache Vartanian

47

Phone: 1800 024 376 Email: vache@herofinance.com.au Website: herofinance.com.au

Hero Finance

NSW

$155,027,867

249

48

George Fennel

MortgageWorks

NSW

$152,763,559

130

49

Scott Marshall

The Loan Arranger

SA

$152,526,876

289

50

Amelia Pignone

Lendx

NSW

$152,000,000

199

www.mpamag.com/au

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53

21/11/2024 11:17:12 am

SPECIAL REPORT BUSINESS STRATEGY

TOP 100 BROKERS 2024

TOP 100 BROKERS 2024 Name Benjamin Fenley

Company

State

Total value of residential loans 1 July 2023–30 June 2024

Total number of residential loans 1 July 2023–30 June 2024

LOGO??

51

Phone: 0421 790 058 Email: benjamin.fenley@infinity.com.au Website: infinity.com.au

Infinity Group Australia

NSW

$151,295,622

276

52

Sakib Manzoor

Secure Finance Services

NSW

$151,000,000

275

53

David Friend

Tiffen & Co

ACT

$149,675,000

234

54

Cheney Chen

Original Wealth

Vic

$149,151,980

145

55

Joanne Liu

WeMe Finance

Vic

$147,778,469

177

56

Geoff Lai

Strategic Brokers

NSW

$145,445,569

251

Dean Menzies

57

Phone: 1800 988 522 Email: dean.menzies@cutcher.com.au Website: cutcher.com.au

Cutcher & Neale

NSW

$145,164,734

156

58

Alex Veljancevski

Eventus Financial

NSW

$143,721,430

213

59

Melissa Wright

Zest Mortgage Solutions

Qld

$143,662,000

246

60

Lenard Hermiz

Loan Market Lenard Hermiz

NSW

$143,455,162

157

61

Lucy Blain

Blain Financial

ACT

$143,300,000

286

62

Luke Camilleri

Mortgage Choice Parramatta

NSW

$142,320,289

208

63

Brad Durtanovich

MoneyQuest Mandurah

WA

$142,000,000

450

64

Greg Bishop

Shore Financial

NSW

$141,350,340

165

65

Luke Mansour

Legal Home Loans

NSW

$141,251,455

208

66

Andrew Algie

Addisons Advisory Group

NSW

$139,000,000

191

Arnab Baral

67

Phone: 0406 411 700 Email: arnab@cinch.loans Website: cinch.loans

Cinch Loans

Vic

$138,039,765

256

68

Andrew Mirams

Intuitive Finance

Vic

$137,548,220

316

Jason Cuerel

69

Phone: 07 5535 5882 Email: info@mortgageinnovations.com.au Website: mortgageinnovations.com.au

Mortgage Innovations

Qld

$136,783,692

236

70

Anthony Roddy

MortgageWorks

NSW

$135,700,000

183

71

Phil Rogers

Loan Market Edge

Qld

$135,070,042

300

72

Marc Ventura

Creative Financial Solutions

Vic

$133,246,441

354

73

James Watson

FundingPro

NSW

$133,020,421

140

74

Patrick Bouquiaux

Tiffen & Co

ACT

$132,000,000

268

Shin Luan

Yongxin Finance

Qld

$132,000,000

218

(tie)

74 (tie)

54

www.mpamag.com/au

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21/11/2024 11:17:53 am

TOP 100 BROKERS 2024 Name

Company

State

Total value of residential loans 1 July 2023–30 June 2024

Total number of residential loans 1 July 2023–30 June 2024

76

Chris Wilson

Sunshine Coast Financial Solutions

Qld

$131,800,000

286

77

Aidan Hartley

Blue Owl Finance

NSW

$130,220,756

211

78

Matt Turner

GSC Finance Solutions

Vic

$129,920,005

200

79

David Thomas

Trilogy Funding

ACT

$129,374,453

271

80

Melanie Smith

The Brokerage

Qld

$129,315,231

120

Daniel Mills

81

Phone: 61 396 869 087 Email: daniel.mills@ufinancial.com.au Website: ufinancial.com.au

UFinancial

Vic

$129,000,000

299

82

Jacob Decru

Loan Market Connect

Vic

$128,943,568

223

83

Ilias Altsitsoglou

A & I Finance

NSW

$128,573,564

147

84

Sandip Nagadiya

Centrum Finance

NSW

$128,495,570

190

85

Andrew Timms

Loan Market New Farm

Qld

$128,209,933

203

86

Kieran Jefferies

Olleh Lending

Qld

$128,000,000

206

87

Richard Khuong

Simple Easy Finance

NSW

$127,358,325

182

88

Sean Murphy

My Mortgage Freedom

Vic

$127,340,000

232

89

Samer Demerdash

Aussie

NSW

$127,167,992

177

90

Vincent Moore

Entourage Finance

Vic

$127,094,997

187

91

Alvie Oliveira

Capta Financial

Qld

$126,899,280

222

DOT Financial

NSW

$126,000,000

181

JD Capital

NSW

$125,228,653

256

Glass Financial

NSW

$125,182,735

179

Loui Daoud

92

Phone: 0406 207 230 Email: Loui@dotfinancial.com.au Website: dotfinancial.com.au Jyh Kao

93

Phone: 0434 793 846 Email: jyhkao@jdcapitalaus.com.au Website: jdcapitalaus.com.au Steven Korner

94

Phone: 0433 788 127 Email: steven.k@glassfg.com.au Website: stevenkornerglassfinancial.com.au Matthew Trad

LOGO??

95

Phone: 0405 002 393 Email: matthew@ztfinance.com.au Website: ztfinance.com.au

ZT Finance

NSW

$125,012,169

146

96

Sue Vuong

Loan Market Sue Vuong

WA

$124,537,971

264

97

Max Harris

Azura Financial

NSW

$123,900,000

146

Damien Walker

98

Phone: 0413 579 857 Email: damien@atelierwealth.com.au Website: atelierwealth.com.au

Atelier Wealth Mortgage Brokers

NSW

$123,570,000

256

99

Jacob Santos

Podium Money

Vic

$123,504,511

215

100

Jordan Giltrap-Ryall

Kelston Capital

Qld

$123,000,000

239

www.mpamag.com/au

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21/11/2024 11:18:07 am

SPECIAL REPORT BUSINESS STRATEGY

TOP 100 BROKERS 2024

STEPHEN MICHAELS, CATALYST ADVISERS

A

ustralia’s No. 1 mortgage broker has taken stock of the fundamental principles driving his remarkable $381 million in loans written during the past financial year in a bid to pass the torch to aspiring top brokers at Catalyst Advisers.

In his current role as managing director, Stephen Michaels has written slightly fewer client transactions, dedicating more time to assisting and mentoring the brokerage’s brokers.

“Passing on over a decade of relationships built with clients and referral partners, and the knowledge and expertise I’ve soaked up, mostly fills my days, and I’m enjoying it,” he says.

“Giving people a fresh perspective on approaching a problem, client transaction or new opportunity is exciting, especially in helping the next generation.”

Michaels was Catalyst’s first employee when the brokerage launched 12 years ago and has learned the importance of remaining sharp and vigilant and anticipating what future challenges may arise to tackle them head-on.

“For a high performer in any industry, it’s about never being complacent, and appreciating that things will change all the time,” he says. “The script you were using a year ago, or sometimes even a month ago, can’t be the same thing you use going forward.”

Behind each of Michaels’ successful strategies stands the customer in full focus, highlighted by the following core principles: • Every strategy, bar none, is designed with the customer in mind

56

• Avoid implementing a process unless there’s a clear customer benefit • Regularly update conversations with customers to stay relevant with industry and legislation changes and lenders’ risk appetites • Treat referral partners as valued customers • Resist creating tools or online platforms that don’t add direct value to clients’ experience “Our customers make our business, and we don’t exist without them,” he says.

“We focus on two key things: hiring the right people who thrive in our customerfocused culture and fully executing what we set out to do.”

The ability to commit 100%, even if it means failing, enables Michaels and the Catalyst team to adapt and move to the next opportunity while remaining customer-focused.

It may seem counterintuitive, but Michaels notes that maintaining top-tier client relationships while writing high loan volumes eschews a cookie-cutter approach. Instead, communication is tailored to stakeholders’ preferences.

For example, Catalyst has created a WhatsApp group for clients and referral partners who prefer to interact via their phones.

Michaels says, “You need to be a bit of a shape-shifter, a jack-of-all-trades and master all the facets of how someone wants to be communicated with but also ask them what works best so the team can run with that.”

Navigating the tough credit market of the last year or so has been challenging for this year’s Top Brokers. Michaels and his team have adapted by: • refining their processes and streamlining internal workflows to maintain high-quality service without compromising the experience • supplying 10 out of 10 service to existing referral partners rather than seeking out new ones, which has increased referrals “I started in this industry straight out of university and didn’t know what the occupation of a mortgage broker was,” he says. “It’s pretty crazy to think that I’ve gotten this kind of recognition because it wasn’t something I set out to do. If you treat every stakeholder as part of the process with the respect and consideration they deserve, things happen, and I have an amazing team that I treat the same way behind me.”

Aggregator:

Finsure Total value of residential loans FY23:

$381,266,000 Number of residential loans FY23:

215

www.mpamag.com/au

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21/11/2024 11:18:29 am

CommBank’s Baber Zaka (right) presents the trophy to Top 100 Brokers winner Stephen Michaels

www.mpamag.com/au

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21/11/2024 11:18:45 am

EVENT PARTNER

PREMIUM PARTNERS

AWARD SPONSORS

EXCLUSIVE POST-AWARDS EVENT SPONSOR

FEATURE ACT SPONSOR

PHOTOBOOTH SPONSOR

OFFICIAL MEDIA

58

SOCIAL MEDIA SPONSOR

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ORGANISED BY

www.mpamag.com/au

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22/11/2024 8:25:55 am

The Australian Mortgage Awards continues to cement its place as the premier awards event for the mortgage and finance industry, attracting one of the largest crowds ever in 2024. Now in its 23rd year, the Australian Mortgage Awards celebrated the best brokers, brokerages, banks, non-banks, aggregators, mortgage managers and service providers THE MOST anticipated event on the mortgage and finance industry’s calendar – the Australian Mortgage Awards – once again delivered a night of celebration, glamour and networking as a who’s who of sector leaders gathered to honour this year’s award winners.

The 2024 Australian Mortgage Awards, held on Friday, 18 October, at The Star Event Centre in Sydney, drew the largest crowd in 10 years, with 800 people in attendance.

Mortgage and finance brokers, BDMs, aggregators, third party leaders from banks and non-banks, and other industry representatives gathered for the black-tie event, run by Key Media with support from MPA and Australian Broker.

The 23rd annual AMAs honoured top industry performers in 25 categories, covering brokers and brokerages, BDMs, lenders, mortgage managers and aggregators. More than 200 Excellence Awardees (finalists) were vying for the top awards.

There were also two major national awards: Westpac Australian Broker of the Year and Liberty Australian Brokerage of the Year.

AMA 2024 attendees were treated to a fantastic performance by Australian pop singer and songwriter Ricki Lee. Comedian and radio and TV presenter Merrick Watts emceed the awards for the second year running.

As the winners walked up the red carpet to receive their awards, the camera captured their every move, evoking the glamour of the Oscars.

Following the awards, almost 300 people danced the night away at an exclusive post-awards party, sponsored

by FINSTREET. Westpac was the Australian Mortgage Awards event partner, with NAB and PRPTY 360 the premium partners. Warren Shaw, head of mortgage broker distribution

at Westpac Group, said the bank was proud to partner with the 2024 Australian Mortgage Awards for the 16th consecutive year.

“Australians trust and value the independent service mortgage brokers provide,” Shaw said. “We support and celebrate this as we come together to recognise an industry of hard-working and high-achieving professionals at this year’s AMAs. “The awards provide a great opportunity to come together and celebrate the outstanding achievements of those in the mortgage broking industry and reflect on another big year, The standard for professionals in this industry is already incredibly high, and every year the finalists are able to exceed expectations.

“I am always impressed by the calibre of the finalists and winners, and they should give all of us much confidence for the future of our industry. Australians trust and value the independent service mortgage brokers provide.

“As Australia’s oldest bank, Westpac is proud to partner with brokers and looks forward to working in partnership for many more years to come,” said Shaw.

Award sponsors included ANZ, Bankwest, Bendigo Bank Broker, Bluestone Home Loans, Commonwealth Bank, Equity-One, the FBAA, Firstmac, Infinity Capital Financial Group, Keystone Capital, La Trobe Financial, Liberty, the MFAA, Mortgage Choice, Mortgage Street, MSA National, MyState Bank, Pepper Money, Rate Money, RedZed, Resimac, So Money and Sprnt.

FinSecure was the feature act sponsor. PRPTY 360 was the champagne sponsor, MA Money the photo booth sponsor and Maxiron Capital the social media sponsor.

Read on for the full list of winners as well as photos from the mortgage and finance industry’s night of nights.

www.mpamag.com/au

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59

22/11/2024 8:26:04 am

EVENT PARTNER

SPRNT (LBH)

BEST INDUSTRY MARKETING CAMPAIGN

WINNER

NAB

BEST INDUSTRY SERVICE

WINNER

Broker Essentials

Helia

BEST CUSTOMER SERVICE FROM AN INDIVIDUAL OFFICE

WINNER

Infinity Group Australia

EXCELLENCE AWARDEES

EXCELLENCE AWARDEES

EXCELLENCE AWARDEES

Bendigo Bank Broker

Broker Ideas Group

Aussie Windsor

Mortgage Choice

Elula

Azura Financial

The Uptick Group

finPOWER Australia

Cinch Loans

FINSTREET

FinVu Home Loans

Helia

Home Loan Experts

Nimo Industries

Lending Solved

Quickli

Mortgage Innovations

Success & Broker

Sattouts Finance

The Brokers’ Bible

Stoneturn

AWARD SPONSOR

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60

BLUESTONE HOME LOANS

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58-77_AMA Winners_SUBBED.indd 60

22/11/2024 8:27:21 am

BROKER

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58-77_AMA Winners_SUBBED.indd 61

24071/0924

21/11/2024 10:50:32 am

EVENT PARTNER

MYSTATE BANK

BOUTIQUE AGGREGATOR OF THE YEAR

WINNER

MSA NATIONAL

RATE MONEY

WINNER

WINNER

AGGREGATOR OF THE YEAR

Purple Circle Financial Services

NON-BANK OF THE YEAR

LMG

Pepper Money

EXCELLENCE AWARDEES

EXCELLENCE AWARDEES

EXCELLENCE AWARDEES

Hai Money

Mortgage Choice

Archer Wealth

Liberty Network Services (LNS)

outsource Financial

Assetline Capital

Money Quest Group

SFG

Brighten Home Loans

My Local Broker

Equity-One

Platform Finance

Firstmac

Redrock Group

Liberty Financial MA Money RedZed Trilogy Funds

AWARD SPONSOR

62

AWARD SPONSOR

AWARD SPONSOR

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21/11/2024 10:50:43 am

58-77_AMA Winners_SUBBED.indd 63

21/11/2024 10:50:57 am

EVENT PARTNER

INFINITY CAPITAL FINANCIAL GROUP

FIRSTMAC

MORTGAGE STREET

WINNER

WINNER

WINNER

BANK OF THE YEAR

Bankwest

BEST AGGREGATOR BDM

Natalie Viney Connective

BEST MAJOR BANK BDM

Lily Parle Westpac

EXCELLENCE AWARDEES

EXCELLENCE AWARDEES

EXCELLENCE AWARDEES

Heartland Bank

Aaron Barry-Davies, Finsure

ING

Aarti Mason, LMG

Arun Paranthaman, Commonwealth Bank of Australia

NAB

Alfonso Pagdanganan, Specialist Finance Group

Suncorp Bank

Blake Hauber, Westpac George Markos, ANZ

ubank

Andrea Walton, National Mortgage Brokers

Grant Rice, Westpac Mortgage Broker Distribution

Westpac Group

James Kemp, outsource Financial

Jenny Zeng, NAB

Louise Mills, Connective

Kemao (Kym) Ning, ANZ

Patrick Moore, LMG

William Xi, NAB

Paul Song, Finsure

Yash Dave, NAB Broker

Sanjay Chandiramani, Mortgage Choice AWARD SPONSOR

64

AWARD SPONSOR

AWARD SPONSOR

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58-77_AMA Winners_SUBBED.indd 64

21/11/2024 10:51:14 am

58-77_AMA Winners_SUBBED.indd 65

21/11/2024 10:51:23 am

EVENT PARTNER

SO MONEY

MORTGAGE CHOICE

BENDIGO BANK BROKER

WINNER

WINNER

WINNER

BEST NON-MAJOR BANK BDM

Sally Hillman St.George Bank

Ellie Shedden Oak Capital

YOUNG GUN OF THE YEAR

Jayden Brown Harrow & Co.

EXCELLENCE AWARDEES

EXCELLENCE AWARDEES

EXCELLENCE AWARDEES

Andrea Kanatlarovska, St.George Bank

Bettina Lumsden, Pepper Money

David Signore, Loans Combined

Michael Acciarito, ubank

Bryce Hill, La Trobe Financial

Dylan Marchingo, Investure

Neo Kumar, Bank of Melbourne

Caroline Pellew, Liberty

Sally Breeze, MyState Bank

Chris White, Resimac

Mark Stutz, Quattro Finance & Advisory

Tia Baena, ING

Darren Yow, Titan Capital

Tom Li, Suncorp Bank

Gina Lo Grande, MoneyPlace

Zach Johnson, MyState Bank

Glen Gillespie, Better Mortgage Management

AWARD SPONSOR

66

BEST NON-BANK BDM

Richie Nguyen, Lending Hub Co. Riley May, Derwent Finance Samuel Swiderski, Smartmove Professional Mortgage Advisors

Kay Yang, Brighten Home Loans

Tara Rockett, Rockett Finance Solutions

Leah Hutchings, ALI Group

Terri Sillitoe, Lendi

Richard Galvin, Advantedge

Tristan Vercoe, Fortifi Finance

Sarin Yedelian, MA Money

Wanting Liu (Millie), Ausun Finance

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Build a business for yourself, not by yourself.

When you join the Mortgage Choice network, you tap into a wealth of experience and resources designed to build your knowledge, skills and confidence. Our franchise structure provides all the support you need, from technology and marketing to compliance and business development.

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EQUITY-ONE

LA TROBE FINANCIAL

FBAA

WINNER

WINNER

WINNER

BROKER OF THE YEAR – PRODUCTIVITY

Mark Davis

The Australian Lending & Investment Centre

Jean-Pierre Gortan

Simplicity Loans & Advisory

BROKER OF THE YEAR – RESIDENTIAL

Alvie Oliveira Capta Financial

EXCELLENCE AWARDEES

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Adam Wadley, Numero Uno Finance

Andrew Kelly, AFC

Chris Bates, Flint

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BROKER OF THE YEAR – COMMERCIAL

Jack Punch, Tesoro Financial Jiyun Tang, AUSUN Finance Katie Liu, JKK Solutions Kevin Wheatley, Bayside Residential and Commercial Mortgages Son Pham, Rethink Financing AWARD SPONSOR

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EVENT PARTNER

NAB

BROKER OF THE YEAR – REGIONAL

WINNER

PEPPER MONEY

BROKER OF THE YEAR – SPECIALIST LENDING

WINNER

Belinda Caesar BC Finance

KEYSTONE CAPITAL

MORTGAGE MANAGER OF THE YEAR

WINNER

Michael Maiolo

Rate Money

The Melbourne Mortgage Company

EXCELLENCE AWARDEES

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Andrew Lee, Loan Market

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FinSecure

Connor Perry, Money Links

Dana Blewitt, The Lenders Club

FINSTREET

Emmanuel Marios, Derwent Finance

Darren Coff, Investure

Granite Home Loans

Jacqui Webb, Ignite Financial NQ

Helen Avis, Specialist Mortgage

Mortgage Ezy

Joshua Trevitt, JT Home Loans

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So Money

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EVENT PARTNER

BANKWEST

NEW BROKERAGE OF THE YEAR

WINNER

Aria Mortgage Brokers

BROKERAGE OF THE YEAR – DIVERSIFICATION

WINNER

The Australian Lending & Investment Centre

ANZ

BROKERAGE OF THE YEAR – REGIONAL

WINNER

Go Mortgage

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MFAA

BROKERAGE OF THE YEAR (1–5 STAFF)

WINNER

Bayside Residential and Commercial Mortgages

RESIMAC

COMMONWEALTH BANK

WINNER

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BROKERAGE OF THE YEAR (6–20 STAFF)

Infinity Group Australia

Azura Financial

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Australian Financial and Mortgage Solutions

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Mortgage Pros

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BROKERAGE OF THE YEAR (>20 STAFF)

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EVENT PARTNER

REDZED

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FINTECH LENDER OF THE YEAR

Athena Home Loans

AUSTRALIAN BROKERAGE OF THE YEAR

Bayside Residential and Commercial Mortgages

AUSTRALIAN BROKER OF THE YEAR

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Simplicity Loans & Advisory

EXCELLENCE AWARDEES

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Funding

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ubank

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EVENT PARTNER

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EVENT PARTNER

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Australia’s key source of industry insights and the latest trends in mortgage and finance.

Access exclusive premium content: • Interviews with the biggest names and profiles in the industry • Best-practice case studies and analysis • Special reports and industry rankings • Business intelligence and strategies

SCAN TO LEARN MORE

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PEOPLE

BROKERAGE INSIGHT

Community ties make business sense Frustrated at being unable to fully assist clients to access loans as a banker, Jasmine Bunter became a broker. Her business, Loan Market Geraldton, is dedicated to providing financial solutions and giving back to the wider community WHEN YOU run a mortgage brokerage in a regional city in Western Australia, it’s important to foster close connections with the community. Loan Market Geraldton, an all-female brokerage located in mid-west WA, more than four hours’ drive north of Perth, is doing just that.

Situated in the coastal city of Geraldton, which has a population of over 40,000, the

value and often miss with branch closures.”

Bunter says Loan Market Geraldton’s community involvement goes beyond just business. “We believe in giving back and supporting the community that supports us. We are heavily involved through sponsorships and volunteering at local sports clubs and charities. This involvement not only helps these organisations thrive; by actively

“We believe in giving back and supporting the community that supports us” brokerage serves a community supported by mining, agriculture, fishing and tourism industries.

Award-winning broker Jasmine Bunter, who founded Loan Market Geraldton six years ago, is its director and franchisee. Her team of four includes broker Chelsea Bradburn, parabroker Kelly Crocos and customer service manager Daniella Cragan.

Bunter says it’s crucial for the brokerage to be an integral part of the community it serves.

“With the recent closures of [local bank] branches such as Bankwest and Bank of Queensland, our role has become even more significant,” she explains.

“We provide clients access to these lenders and many others, ensuring they can benefit from great rates and offerings, even without local branch access. We also offer the personal, face-to-face service that clients

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participating in and supporting local initiatives, we aim to build a stronger, more connected community and ensure we remain a trusted and valued member of it.”

Before becoming a mortgage broker in 2018, Bunter worked at a major bank for

13 years in home lending. It was her experience in this role that led her to join the broking industry.

“During that time [working at the bank], I faced significant restrictions on lending within the Geraldton area, which often meant I had to turn away clients with excellent credit simply because of these limitations. This was frustrating and didn’t align with my desire to help people with their financial goals.”

Bunter’s career turning point came when a friend introduced her to the previous owner of Loan Market Geraldton. After an “insightful job interview” she realised it was an excellent opportunity to buy and run her own brokerage.

“I was motivated by the potential to provide a more flexible array of lending solutions that could meet most clients’ needs.”

Bunter says the primary goal behind setting up her own brokerage was to offer a more inclusive and client-centric approach to

GOING BEYOND FINANCIAL SUPPORT “For the past five years, Loan Market Geraldton, led by director Jasmine Bunter, has been dedicated to supporting our community. Bunter has donated funds and volunteered extensively for Midwest Charity Begins at Home, helping locals facing serious illness. We’ve sponsored various sports clubs, including cricket, basketball and netball, and supported the WA Street Smart Handbook, giving high-school students vital mental health resources. Recently, the Loan Market Geraldton team sponsored and planted 10 trees to shade footpaths, volunteering their time on a Sunday to make it happen. We also ran a free financial clinic at a Women’s Health Centre. We’re always proud to support where we’re needed.”

– Jasmine Bunter, director, Loan Market Geraldton

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LOAN MARKET GERALDTON IN BRIEF Owner: Loan Market Geraldton Location: Geraldton, WA Services: Personal loans, home loans, SMSF loans, commercial loans and agri finance Number of employees: 4

“The aim is to create a dynamic industry where talent and expertise are recognised, regardless of gender” lending. “We aimed to leverage our local knowledge and community connections to build a bigger and trusted reputation.”

Bunter was named the MFAA’s WA State Excellence Awards Regional Broker of the Year in 2023 and 2024.

The brokerage offers a range of lending services, including: • personal loans: to help individuals manage personal expenses, consolidate debt or purchase assets such as vehicles/ caravans/boats • home loans: to help clients purchase their first home, refinance existing mortgages or invest in residential property • SMSF loans: providing lending solutions for SMSFs to invest in residential or commercial property

• commercial loans: to support businesses with commercial property purchases, business expansion and other commercial financing needs • agri finance: specialising in financial solutions for the agricultural sector, including farm, equipment and rural finance The business prides itself on being able to serve a diverse range of clients in and around Geraldton, Perth and areas further south. “We don’t have a specific ‘main’ type of customer; instead, we provide an array of services tailored to the unique needs of each client,” says Bunter.

However, she says their largest proportion of clientele at present is “next homeowners” – people upgrading their homes. “The market in Geraldton has probably remained stagnant for maybe the last 10 years, whereas all around

Australia we’ve had these massive property price increases, especially here in WA. I think that’s probably fuelled the last 12 months where people actually finally have equity in their property and are able to upgrade their homes.”

The brokerage’s next-biggest market is first home buyers. While it’s currently one of the most expensive periods for FHBs looking to get into the property market, it’s still affordable, Bunter says.

Having an all-female team in a traditionally male-dominated industry is incredibly significant for Loan Market Geraldton, she adds.

“Women in finance often face the challenge of breaking the glass ceiling, while having to prove their expertise is twice as hard as [for] their male counterparts. This added pressure makes our achievements even more meaningful and underscores the importance of promoting gender diversity in our field.”

By supporting and mentoring women in finance, the aim is to create a dynamic industry in which talent and expertise are recognised, regardless of gender, Bunter says. “It’s also crucial for clients to acknowledge and appreciate the value women bring.”

The business’s future goals are to focus on providing safe and efficient services “without losing our customer-centric approach”.

“We want to build on our brand while ensuring we have a fun and supportive in-house team environment. Enhancing our operations and expanding our reach, we will continue to strive to deliver exceptional value to our clients and create a workplace where our team can thrive and feel valued.”

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PEOPLE

OTHER LIFE Cricket is a wa y to con n ect with the com mu nity, promote tea mwork, ma ke n ew friends a nd look after physical a nd mental wellbeing

TELL US ABOUT YOUR OTHER LIFE Email antony.field@keymedia.com

BATTING FOR THE TEAM Hobart mortgage broker Roshan Bhattarai balances cricket dreams with mortgage deals ROSHAN BHATTARAI, a first-generation immigrant from Nepal and a mortgage broker at Derwent Finance, has seamlessly blended his professional career with a lifelong love of sports.

“I studied in a boarding school hostel in Nepal, where sports and fitness were a vital part of our daily routine,” Bhattarai says.

During his youth, he played football and cricket, gaining lessons in “teamwork, camaraderie and sportsmanship”.

Although his journey led him from Nepal to Australia for further education and a career in finance, his passion for cricket never wavered.

“After relocating to Hobart, I missed the thrill of being part of a sports team,” he says.

That changed when he joined the Kathmandu Warriors Cricket Club in Hobart.

“I was grateful for the chance to join as a supporting sponsor and felt honoured when the team invited me to be their mentor,” he says.

Since then, Bhattarai has enjoyed seeing the team’s achievements, including reaching the Hobart Champions League semi-finals and finishing as runner-up in the Dashain Cup.

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Age at which Roshan Bhattarai started playing cricket

2022

2023

Year Bhattarai joined the Year Battharai became a Kathmandu Cricket Club Kathmandu Cricket Club as supporting sponsor mentor

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A new horizon for individual borrowers Horizon Mortgages, now available to company, trust, consumer and SMSF borrowers.

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