MUMBAI TO MELBOURNE

Melbourne-based mortgage

broker Vee Shah’s finance career may have started in Mumbai, but it is here in Australia where Vee has established a burgeoning agency, MTA Mortgage Brokers, alongside his business partner and former mentor Kerry Kalendra. We spoke to Vee about getting started in broking, morethan-doubling his business and his career highlights along the way.

Born and raised in Mumbai, India, you could say Vaibhav “Vee” Shah’s interest in finance and love for numbers was inherited. His father owns and operates an accounting firm, in which Vee worked. After completing a degree in finance and Master in Accountancy in Mumbai, Vee worked in investment banking in India. He then pursued further study, moving to Australia in 2012 and completing a dual Masters – Master in Finance and Master in Business Administration (MBA) – over two years at University of Victoria.

Upon completing his Masters in Australia, Vee returned to the finance industry as a financial analyst within a major bank. It was broking that eventually lured Vee long-term.

“After working in the finance industry for a few years, I realised I wanted to have a more direct impact on people’s lives,” explains Vee. “I thought mortgage broking was a great way to do that because it’s a very personal industry. You’re dealing with people’s homes, which are often their biggest assets, and you’re helping them to achieve their dreams of home ownership.

“I enjoy the complexity of broking, and helping people understand the structure of a loan and how it works.”

Knowing he wanted a career in mortgage broking, Vee worked as a loan processor to understand all aspects of broking. However, feeling stagnant in the company he was working for in 2015, Vee looked for new opportunity. This eventually led him to connect with Kerry Kalendra, owner of boutique Melbourne agency, Optim Financial (since rebranded to MTA Mortgage Brokers).

“I met with Kerry on a Sunday morning, over breakfast,” recalls Vee. “I was very clear with him that I wanted to be a mortgage broker within two years, and he offered to mentor me.”

From 2016 to 2018, Kerry mentored Vee and in 2017 sponsored his VISA so Vee could continue working and eventually pursue citizenship.

“I never thought much of mentoring, until I met Kerry,” admits Vee. “In this industry, people can be sceptical about whether to invest in mentoring. Kerry as my mentor really helped me go next level. He never withheld knowledge out of fear I would take business away from him, he was very open. I wouldn’t be here without him.”

Since 2016, Vee’s career at MTA Mortgage Brokers has progressed from loan processor to mortgage broker and now business owner, after he bought into MTA Mortgage Brokers in 2022. In all, Vee has assisted Kerry in settling more than $600m since 2016. Recognising they work well together, Vee and Kerry also recently launched a travel business, MTA Travel.

Since Vee stepped into his role as business co-owner, MTA Mortgage Brokers has experienced significant growth. “Since last year we have double our team from three to six, and we have also doubled our revenue. We have taken the business from writing around $75 million a year in loans, to this financial year we will have written over $160 million – and that has all been through word-of-mouth. This year we will implement digital advertising to drive further growth.”

While Kerry is no longer Vee’s mentor formally, the business partners and their team embrace a culture of always-learning. “We use a sales coach based in the US, by the name of Todd Duncan who operates under High Trust Coaching. Every year we take the whole team to attend a session. Todd is the OG of building trust in the mortgage industry. It was his coaching that took our mindset to the next level,” says Vee.

“Our team is incredibly diverse, across age and culture, and it’s our diversity that I believe is our strength. We profile prospective employees to understand whether they will be a good fit for our team. Protecting and enhancing our team culture is important to us.”

Vee’s career journey so far holds a track record of success and a strong work ethic. In 2018, he was nominated for Loan Administrator of the Year at the Australian Broking Awards and won Best Newcomer 2020 at The Adviser’s Better Business Awards.

Personally though, Vee says his greatest achievement has been receiving Australian citizenship last year. “Coming to this country as an outsider, I was very welcomed by Australia. I now feel privileged to be helping Australians achieve their Australian dream,” shares Vee.

“My wife Mona and my family have been, and continue to be, a great support as I’ve gone from student to broker to business owner. It’s important to me that I be an example for my three-month-old son, Prishiv.

“It’s funny, I never thought I would be a mortgage broker when I was studying my MBA but the curiosity for me to help people has never been stronger.”