Mortgage Professional Australia issue 18.11 by Key Media

MPAMAGAZINE.COM.AU ISSUE 18.11

DREAM MAKERS Revealing 2018â&#x20AC;&#x2122;s Top 100 Brokers and what it takes to write record loan volumes HUY TRUONG Talking to clients about preparing Plan B

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AMA WINNERS Highlights of the 17th Australian Mortgage Awards

SME STRATEGY How to grow your income stream and retain more clients

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NOVEMBER 2018

CONNECT WITH US

CONTENTS

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UPFRONT 02 Editor's letter

What I learned from interviewing the Top 10 brokers in the country

04 Statistics

Brokers weigh in on the pros and cons of diversifying

How can brokers help SMEs secure finance, especially as it gets harder to come by?

08 News analysis

SME LENDING

HUY TRUONG

ALI Group’s CEO explains why brokers need to talk to clients about preparing a Plan B

Ten years after the GFC, industry leaders reflect on what it means today

13 Opinion

Being a top broker is about more than just settlement figures, writes business coach Jason Back

MPA’S TOP 100 BROKERS

THE BIG INTERVIEW

06 Head to head

FEATURES

SPECIAL REPORT

MPA reveals this year’s residential heavy-hitters, who explain how they grew their loan volumes in this challenging lending environment – or why they didn’t – and how they strive for work-life balance

Rebuilding trust in financial services is not just about integrity; it’s about remaining relevant, new report shows

FEATURES

42 FEATURES

TECH EDGE

What one bank is doing to meet the demands of today's consumers for easy-to-use digital tools

38 Vendor Q&A

PLAN Australia is going the distance for brokers, with extensive back-end support and upfront training

PEOPLE 78 Career path

How the GFC helped Bendigo and Adelaide Bank’s Amanda James determine her direction

80 Other life

Volunteer work helps passionate foodie and broker Kathryn Bordonaro feel refreshed

FEATURES

2018 AUSTRALIAN MORTGAGE AWARDS Who walked away with a trophy from the ‘Oscars of the Mortgage Industry’, plus highlights and pictures

MPAMAGAZINE.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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UPFRONT

EDITOR’S LETTER www.mpamagazine.com.au NOVEMBER 2018

Stoking a passion for broking

any industries could probably learn a lot from broking. It’s an industry that stormed onto the scene as a disruptor in the 1990s; went through growing pains yet still weathered the GFC; met with change and continues to be confronted by it; faced off against the big banks and has seen exponential growth and sharp scrutiny; and is now the channel of choice for more than half of consumers. And through it all, its participants have prevailed, and thrived, as this year’s Top 100 listing shows. Our Top 100 may be writing much more than the average broker, but they’re still feeling the pinch from tighter lending standards, drawn-out decision-making and sometimes ludicrous exemptions. Nevertheless, no matter how hard it gets, these people absolutely love what they do. That’s my big takeaway after interviewing the Top 10 brokers on this year’s listing. Despite the complexities and uncertainties in the present market, they’ve become even more motivated to work harder, train more and refine their processes and procedures. These heavy-hitters may be operating brokerages that are systematic and methodical, but they are in no way mechanical. In fact, the Top 10 were exceedingly friendly, humorous and eager to share what they’d learned. I can see why customers like them.

No matter how hard it gets, these people absolutely love what they do Although these brokers are extremely time-poor business owners, my 15-minute phone interviews with them often stretched into 40-minute conversations. Not only did they reveal their thoughts on the challenges they’d encountered and how they’d harnessed their teams, but they also told me about their families and hobbies, and whether they’d achieved any semblance of work-life balance. The answer on the latter is: it’s a mixed bag. This life isn’t for everyone. Some brokers don’t aspire to write even $150m a year, and that’s OK. What this report is meant to showcase is what drives these individuals to reach such great heights – and how they got there. The journey isn’t easy, but if there’s one thing that can be learned, it’s that resilience, hard work and passion go a long way. Otiena Ellwand, editor, MPA

EDITORIAL Editor Otiena Ellwand Journalists Tom Goodwin Abel Riototar Contributor Jason Back Production Editor Roslyn Meredith

ART & PRODUCTION Designers Cess Rodriguez Pia Tandog Marla Morelos Aira Olgado Traffic Coordinator Freya Demegilio

SALES & MARKETING National Sales Manager Claire Tan Marketing and Communications Manager APAC Michelle Lam Marketing Manager Danica Mendoza

CORPORATE Chief Executive Officer Mike Shipley Chief Operating Officer George Walmsley Managing Director Justin Kennedy Chief Information Officer Colin Chan Human Resources Manager Julia Bookallil

EDITORIAL ENQUIRIES

tel: +61 2 8437 4792 otiena.ellwand@keymedia.com

SUBSCRIPTION ENQUIRIES

tel: +61 2 8011 4992 • fax: +61 2 8437 4753 subscriptions@keymedia.com.au

ADVERTISING ENQUIRIES claire.tan@keymedia.com

Key Media Regional head office Level 10, 1–9 Chandos St, St Leonards, NSW 2065, Australia tel: +61 2 8437 4700 • fax: +61 2 9439 4599 www.keymedia.com Offices in Sydney, Auckland, Denver, London, Toronto, Manila, Singapore, Bengaluru

Mortgage Professional Australia is part of an international family of B2B publications and websites for the mortgage industry CANADIAN MORTGAGE PROFESSIONAL neil.sharma@kmimedia.ca T +1 416 644 8740

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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UPFRONT

STATISTICS

A crisis of trust A new report sheds light on what makes an organisation ‘trustworthy’, and illustrates why prioritising this is the key to staying relevant A REPORT by Deloitte and Salesforce, Restoring Trust in Financial Services in the Digital Era, has revealed that there is a “clear trust deficit” in the financial services industry. Meanwhile, the royal commission has exposed significant failures by providers to act in the best interests of customers and comply with responsible lending rules. To understand the impact of customer behaviour and market trends on the industry, the report surveyed over 1,000 Australians. It found that an organisation’s trustworthi-

Have never used and would not consider

Have never used, but would consider

Never heard of this before

ness is influenced by three pillars: ethical intent, capabilities, and an alignment to customer interest. Ethical organisations intend to keep their promises to customers; they retain the right people, systems and processes to execute ethical intent and deliver promises; and they align their business and customer goals. The report sends a clear message to financial firms that now is “the time to invest in rebuilding trust and engagement with customers”.

Insurtech

Lenders

Wealthtech

Blockchain

Personal finance management

30%

Wealth management customers who intend to switch providers in one to two years

Digital banks

29%

Customers who are less willing to share data and personal information than six months ago

Superannuation

47%

Customers who don’t trust their own financial services provider

I currently use this

Payments

32%

Customers whose trust in the financial services industry declined in the last 12 months

USAGE, CONSIDERATION, AND AWARENESS OF FINTECH TYPES

Source: Deloitte/Salesforce: Restoring Trust in Financial Services in the Digital Era

BANKS TAKE THE BIGGEST BLOW

PRIVACY PROTECTION DRIVES TRUST

Only 34% of consumers believe the financial services industry overall is worthy of trust, and 29% claimed the banking industry was “extremely or quite untrustworthy”. Insurers were the next least trusted profession.

While there are various drivers of trust across the entire financial services industry, the survey found that one of the overall key drivers of trust was the availability of systems to protect data and privacy, as well as the belief that customers’ interests were given top priority.

Extremely trustworthy

Quite trustworthy

Neutral

Trustworthiness based on industry attributes

Trustworthiness of financial services industries generally

Rated industry trustworthy

Quite untrustworthy

Rated industry untrustworthy

Extremely untrustworthy 54

52 48

33 47

38 28

8 8

11 4

Wealth management industry

Superannuation industry

Insurance industry

Banking industry

Financial services industry overall

Systems to protect data/privacy

Socially/ethically responsible

Customers’ interests first

Source: Deloitte/Salesforce: Restoring Trust in Financial Services in the Digital Era

Innovative products and services

Personalised advice/ recommendations

Source: Deloitte/Salesforce: Restoring Trust in Financial Services in the Digital Era

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UX on mobile app/online

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THE FINTECH BOOM Fintechs are experiencing exponential growth. In 2017, they reported average monthly revenue growth of 208% (EY). Compared to traditional providers, respondents considered fintechs to have many superior attributes, particularly in delivering better customer experiences and being more innovative and easier to deal with. Despite steadily growing and winning customers, as new brands fintechs still struggle with gaining awareness and developing trust.

EXPECTED BENEFITS OF FINTECHS OVER TRADITIONAL PROVIDERS Significantly worse

Slightly worse

No better or worse

Slightly better

Significantly better

User experience on mobile app/online Innovative products and services Ease of dealing with (timely, proactive) Access to new and different markets and asset/investment classes Empowering me with the tools and support I need Ability to aggregate data from different sources to provide greater... Value for money to customers Systems in place to protect customer data and privacy Strong range of products/services Customer support for queries and issues Transparency on fees/charges Personalised advice and recommendations Placing customers’ interests first Financial experience/expertise Socially and ethically responsible Source: Deloitte/Salesforce: Resttoring Trust in Financial Services in the Digital Era

LOOKING TO SWITCH

SWITCHING COMES AT A PRICE

Across all industries, customers who reported that their financial services provider failed to meet most or met only some of their expectations were more likely to switch. Nearly a third of wealth management customers plan to replace their provider in the next one to two years.

When considering switching, customers were most influenced by price across all financial sectors. The survey found that 78% of insurance customers were most likely to switch because of price, followed by 57% of wealth, banking and superannuation customers.

Likelihood of switching financial providers in next 1–2 years Highly likely

Quite likely

Neither likely nor unlikely

Quite unlikely

What would make customers more likely to switch to a new provider Highly unlikely

Wealth management

100% 80% 57

57 57 47

42 36

Superannnuation

Banking

Insurance

Wealth management

Source: Deloitte/Salesforce: Restoring Trust in Financial Services in the Digital Era

Banking

Superannuation

54 47

50%

60%

Insurance

42 35

27 17

3 More competitive pricing/fees

Better features

Better customer service

User experience on mobile/online

Other

Source: Deloitte/Salesforce: Resttoring Trust in Financial Services in the Digital Era

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UPFRONT

HEAD TO HEAD

What were your biggest challenges in diversifying? The prize for diversifying is a bigger revenue stream, but it doesn’t always come easy

Andrew Bromley

Nicholas Kakalis Director Finance Unlimited

Senior lending manager Loan Market Geelong

“Initially, the biggest challenge with diversifying was the question, where will my leads come from? It’s the same question you ask when you’re starting out as a broker. “Luckily, the answer is sometimes right in front of you, and so it was in this case. Building relationships within my database has allowed me to recognise different opportunities, especially with my self-employed clients: cash flow demands, equipment purchases, SMSF purchases, even a company-car fleet for a local real estate company. All of these deals are able to present themselves if you can have that relationship with the client and, importantly, ask the right questions.”

“Diversifying gave us many positives in terms of being able to grow, but it wasn’t without challenges, beginning with the time and effort required to learn the new products, as well as developing our own processes in order to complete the work in a timely and efficient manner. We knew this was going to be a challenge from the outset. “Another challenge that we didn’t plan for was that some of our existing clients were slower than expected to engage in our new services because they regarded us as mortgage specialists but not financial advisers. For new clients it wasn’t a problem; we presented all our services at the initial engagement.”

“As brokers, many of us started as solo operators and gradually put on additional staff as the business increased. The biggest challenge when we expanded our offering and diversified into other areas was finding the right people for our business who were not only specialists in their field (or had the ability to become one) but could also enhance and complement our current structure and staff. “The other challenge would be taking the time to understand an entirely new offering. Do I understand how it works? Will I able to continue it, or should I find someone else to? If the specialist leaves, is it going to bring value to our clients and the business? Is it worth it?”

Finance consultant Mortgage Express

Sarah Thomson

DIVERSIFYING INTO PERSONAL LOANS Earlier this year, peer-to-peer lender RateSetter entered into a partnership with mortgage broking franchise Mortgage Choice to connect its distribution channel of more than 600 brokers with RateSetter’s unsecured personal and green loan products. “Diversification into new products helps brokers build a more sustainable business and deeper client relationships,” RateSetter CEO Daniel Foggo told MPA. Green loans are affordable finance options for home and business owners looking to buy approved energy-efficient products such as solar panels and energy-efficient lighting. Mortgage Choice CEO Susan Mitchell said she saw the partnership as a means to bolster the ability of the company’s brokers to deepen customer relationships by diversifying revenue streams.

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UPFRONT

NEWS ANALYSIS

Is history repeating itself? Australia weathered the GFC better than most countries, but it was a stark warning sign of what can happen when lending standards drop and borrowers get in over their heads. Did Australia learn its lesson? “PEOPLE WILL be very perplexed when I say this, but I think the GFC happened at the perfect time for Australia,” says Mario Rehayem, Pepper Money’s Australia CEO, reflecting on the 10-year anniversary of the crisis that shocked the world and reshaped the global economy.

good credit that Australia has always applied through the banking system.” Australia weathered the GFC better than most countries, but it was a warning sign of what can happen when lending standards drop and borrowers get in over their heads. The GFC did have a lasting effect on the

“Credit is not something that you can go obtain like a cheeseburger and chips; it’s a serious proposition” Brett McMurrick, mmf Finance and Consulting It was around 2007–08 that the Australian banks started to dabble in subprime or no-doc lending, he says. It was this type of risky lending that was one of the main contributors to the downturn in the United States. “We only just started to get a taste of it in Australia and then the GFC hit, and that’s a blessing in disguise,” says Rehayem, who was working in WA as the state manager for Westpac at the time. “Many will say, ‘You’re mad’, but the reason why we were very resilient through the GFC was because of the

way some mortgage brokers and banks operate today. Some lenders vanished, while others were acquired by the major banks, such as St. George and Bankwest. Since 2007, the number of ADIs has dropped 32% from 217 to 147, largely because of a decline in credit unions and building societies. The GFC also underscored the responsibility both brokers and banks have for making sure that history doesn’t repeat itself. Back then, lenders weren’t probing brokers for information like they are today, so it was much easier to get a loan across the

line no matter the amount requested. “There has clearly been an increasing understanding and following of the ‘Know Your Customer’ principles. Whilst I always felt most brokers did this, the need is now far greater to have a structure to properly record your clients’ responses – and to ask more questions to really get to know the back story of why the borrowing is being considered and what the strategy is to repay the new debt,” says nMB’s managing director, Gerald Foley. Brett McMurrick, principal at mmf Finance and Consulting, says that while brokers felt the effects of the GFC, the royal commission will have more of an enduring impact on the Australian lending landscape and brokers’ day-to-day jobs. He sees this as a good thing – it will bring greater levels of transparency to the industry, it will protect consumers, and it will flush out flyby operators.

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MAIN CAUSES OF THE GFC v Excessive risk-taking in a favourable macroeconomic environment

Increased borrowing by banks and investors

Regulation and policy errors

“People will be very perplexed when I say this, but I think the GFC happened at the perfect time for Australia” Mario Rehayem, Pepper Money “Credit is not something that you can go obtain like a cheeseburger and chips; it’s a serious proposition. You’re spending a lot of money, so there needs to be a lot of thinking and due diligence around credit applications,” McMurrick says. “This isn’t a game; you’re dealing with people’s livelihoods.”

Did Australia learn its lesson? As much as lending criteria has tightened, some industry experts have sounded the alarm on the increasing toll of household debt and the banks’ high concentration of

mortgages. As at September 2017, housing loans made up more than 42% of ADIs’ assets and were worth about $1.6trn. “As someone who has watched debt ballooning for many years, I’ve become more and more concerned that we are laying a trap which could catch out a significant number of people,” said industry observer and Digital Finance Analytics principal Martin North in a recent video. “Yet the banks continue to say their mortgage loan portfolios are just fine … despite the revelations from the royal commission.”

According to his firm’s research, close to a million of the 3.5 million owner-occupier mortgagees are struggling with cash flow issues “due to flat incomes, rising costs and higher mortgage repayments, meaning that ahead there is a risk of higher default”. Not everyone shares this view. “Prior to the GFC there seemed to be a view that the trees would grow to the sky – this clearly can’t happen – and a correction occurred. This time around lending has been more conservative, with greater emphasis on understanding living expenses and other financial commitments,” Foley says. The current market doesn’t raise any concerns for Smartline broker Sally Richards either. “It is our job to educate our clients and ensure they have a good understanding of what the market is doing and not be frightened of what they hear on 60 Minutes,” she says. With lenders employing more realistic measures of people’s living expenses – which Richards says was long overdue – and the presence of lenders mortgage insurance, she believes the market is stable. “If anything, [the lending policy changes have] been positive for broking, as clients are realising that they can’t just ask one bank what they can do for you – all the banks will give you a different answer. While one might say no, there is very likely one that will say yes – and we can help them find it.”

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PEOPLE

BIG INTERVIEW

PREPARING A PLAN B In today’s highly scrutinised lending market, brokers need to have well-rounded conversations with customers before and after settlement – and that means educating clients about what risks and options exist if faced with a worst-case scenario, explains ALI Group CEO Huy Truong

IN THE last 10 years of working in the broker space, ALI Group CEO Huy Truong has seen it evolve significantly. The mortgage broking sector began ramping up in the 1990s when bankers eager to distance themselves from the cross-selling and upselling culture at these institutions struck out on their own to become home loan specialists, Truong says. But that also opened a gap in service. When clients used to go to a bank for a loan, they’d often be offered mortgage and loan protection insurance along with it, but that wasn’t happening at the broker level, which is why ALI was set up. Fast-forward to today and things have almost flipped the other way. In the royal commission landscape, banks are now looking to streamline their offerings and distance themselves from poor-quality add-on products and a culture of KPI-driven cross-selling, while brokers are seeing the benefits of diversifying their businesses

through greater education and servicing. In Truong’s opinion, that change is a positive reflection of how brokers are adapting and putting more emphasis on better serving their clients’ broader needs, as opposed to focusing only on loan products.

they can make informed decisions. This is an insurance policy that the borrower takes out to cover their repayments if they die, become seriously ill or are made redundant. According to a Roy Morgan survey, it is estimated that 1.9 million mortgage holders

“[Insurance is] a win for the customer and it’s also a win for the broker in terms of generating a really good positive outcome for the customer and giving them peace of mind and protection” With brokers writing 55.7% of new home loans but only about 20% of them discussing risk and protection with clients, Truong says more needs to be done to ensure brokers and their clients are educated on the importance of mortgage and loan protection insurance so

between the ages of 20 and 49 do not have any level of personal insurance. It’s not surprising, then, that in a May survey by ALI Group, 96% of prospective homeowners said they would like to be told about this insurance when applying for a loan, and 83% said they

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PROFILE Name: Huy Truong Company: ALI Group Title: CEO Years in the industry: 10 Career highlight: “A number of formative experiences come to mind. Starting one of Australia’s first significant online retail businesses in 1999 and being AFR’s e-commerce entrepreneur of the year in 2000. Running an international business owned by the Packer family; Mike Milken taught me a lot about pressure and financial performance. Starting Yarra Capital Partners to back entrepreneurs and their businesses. Rejoining the entrepreneurial ranks as an owner and CEO of ALI Group. Starting Thrive Refugee Enterprise in 2017 to provide small business loans to refugees and asylum seekers.” Career lowlight: “While there have been trials and failures in my career, none of them have been lowlights, in that they made me a more effective entrepreneur, leader and investor. Perhaps my one underlying regret is that, instead of coming back to Australia in 1998, I should have stayed in Silicon Valley, given the tectonic shifts in technology, innovation and business models that have occurred there.”

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PEOPLE

BIG INTERVIEW

would be very likely or somewhat likely to take out a policy, depending on the product. Making clients aware of the risks and their options should be part of a well-rounded loan discussion – and clearly clients are open to hearing about it. With the recent spotlight on brokers’ responsible lending obligations and trail commissions, Truong says making enquiries about a consumer’s requirements and objectives, and understanding their financial situation, should be part of the ongoing conversation beyond settlement. “A mortgage or home loan goes for 30 years, and a lot can happen to someone’s financial circumstances over that time, whether they’re impacted by employment, illness or, in catastrophic cases, death,” Truong says. It may sound like an uncomfortable conversation to have, but brokers need to talk to their clients about worst-case scenarios. “If something were to happen to you in five years’ time, how would you service the mort-

KEY MILESTONES In the next 12 months, ALI Group will reach the following milestones:

200,000 clients protected

$100m claims paid

million unpaid carers in Australia, more than two thirds of whom were female. “When you see families coming through buying a home, the whole family is buying the property but the female may be very exposed, with no superannuation. What we do is particularly important for women,” Truong says. Insurance is not often top of mind for young people either, leaving mortgage brokers as their most probable link to loan protection. “[It] has started to dawn on more brokers

“A mortgage or home loan goes for 30 years, and a lot can happen to someone’s financial circumstances over that time, whether they’re impacted by employment, illness or, in catastrophic cases, death” gage? Do you have a Plan B? What sort of insurances do you have in place?” Many people believe that their superannuation’s life insurance policy is sufficient, but it is mostly only suitable for death cover. ALI’s loan protection plan includes a ‘living benefit’, which means it covers clients for serious medical conditions as well as involuntary unemployment, accidental injury (optional), and terminal illness and death. Women and young people tend to be the most underinsured. In 2015 there were 2.7

that they are really in a privileged position because they are the only ones having any sort of financial conversation with that group [25- to 35-year-olds]. So if they don’t bring up risk, insurance or protection, then really no one else will,” Truong says. ALI’s research found that 64% of prospective homeowners and 53% of existing homeowners were looking for an ongoing relationship with their broker/lender. This percentage was higher when the broker was servicing needs of the client that were over and above the home loan.

$60m in commission

$500k

in commission earned by one of its authorised representatives

But brokers still have their work cut out for them. About 51% of customers said they had an ongoing relationship with their broker, versus 56% who said they had an ongoing relationship with their bank. With a cloud of uncertainty looming over commissions, brokers should be considering additional sources of revenue as well, Truong says. A broker can earn an average commission of about $1,000 per policy for a process that only takes about 15 minutes. “It’s a win for the customer in that they are more knowledgeable about risk and have the peace of mind and protection from a quality insurance solution,” he says. “It’s obviously good for the broker as they deepen their relationship with the client and have a more profitable business.” If the broker is able to educate the customer about risks and explain the features of the loan protection product, then clients will in no way begrudge the broker earning something from providing the solution, Truong says. With a team of 60 people, including 16 BDMs on the road and another six broker support staff at its Sydney head office, Truong says ALI is fully behind its brokers and its product. It doesn’t sell directly to customers, nor does it go through financial planners. “One of the reasons why we have prospered over 15 years as the market leader is because we live and breathe mortgage broking and the protection of their clients against financial hardship; that’s all we do.”

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UPFRONT

OPINION

GOT AN OPINION THAT COUNTS? Email otiena.ellwand@keymedia.com

Success goes beyond sales Broker Essentials founder Jason Back reports on what he has learned from working with some of the best brokers in the business OVER THE last six years, I have been the managing director of The Australian Lending & Investment Centre (ALIC), a leading high-volume brokerage overseeing $4bn in settlements – an experience that has given me great insight into what makes a thriving brokerage. Having reflected on the lessons I learned and what we were able to achieve using the formula we employed to generate success and scale the business, I will tell you about what worked well, what didn’t, and what you can take away from it all. When running a successful business, having clear goals and communicating them with those who are on the journey with you is critical. You cannot – and should not – try to do it all by yourself. Anyone who has tried to grow their business while still maintaining the same service level and relationships with clients knows that those become compromised when they’re consumed by managing staff and juggling marketing, administration, compliance, IT and various other daily duties. In today’s mortgage broking landscape, the importance of both understanding your weaknesses and playing to your strengths cannot be understated. It’s essential that you trust in the process you’ve built so that when you get busy you don’t become distracted or lose focus on the role you play and your business goals. Admitting that you cannot do it all is the first step in your program for success. You need to remove distractions and categorise low-value or no-value activities. Basically, you need to know what your time is worth.

Once you attain success, that doesn’t mean you’re done. You need to be constantly looking for ways to improve, but these don’t have to be monumental shifts. According to the Japanese management theory, Kaizen, if you strive to achieve continuous, incremental change, it is easier for businesses and workplace cultures to adapt and adopt these measures, and it eliminates wasted effort.

informed is quintessential. But it’s not just about going through the motions; how you retain and pass that knowledge on to those who support you and to your clients is just as important. Training can take many forms, so find what works for you, but you have to stick with it. And you have to be able to quickly call upon that training when required. The art of good business comes like any other skill in life – with practice. You don’t need to practise until you get it perfect; you need to practise until you cannot get it wrong. When working with some of the country’s leading brokers, like Mark Davis, Kevin Agent and Natasha Choi, it has been essential to understand what drives the high activity, high intensity and deep focus of these brokers. They don’t just put in the hours; they also genuinely care about their clients. As a manager, you need to understand your team’s behaviour and motivations. Understanding why they do what they do is just as important as what they do.

You need to remove distractions and categorise low-value or no-value activities. Basically, you need to know what your time is worth I have for many years – through ALIC and my Broker Essentials Program – been a passionate practitioner of the three principles of process, measurement and a clear client journey. But I would advocate underpinning any business that is people-driven, which the broker industry is, with education, training and more training. Grit, hard work and determination will get you some of the way, some of the time. But sticking to clearly defined processes in everything you do, measuring what you do every day and being accountable for your time, and, more importantly, understanding that what you are doing is working, is critical to your success. Finally, in order to have the most satisfied clients who return to you time and time again and refer your business, you must take them on a journey. Our industry is built on service and advice, not just price! In the current climate, with ever-changing policies and regulations, the need to be

Managing, leading, coaching and training all require different skill sets, and I have looked to be agile in my approach while managing multiple stakeholders over the years. It has been difficult at times; we have made errors, but we have learned and evolved. We work in an incredible industry, blessed with the opportunity to serve the needs of the Australian public, to help them achieve their dreams and create wealth over their lifetime, and for that I am grateful. Jason Back is the founder of Broker Essentials, a business coaching and consulting company that was developed to help brokers build and scale successful brokerages. He was previously managing director of the award-winning Australian Lending & Investment Centre for six years. For more information on his masterclasses and one-on-one coaching, visit www.brokeressentials.com.au.

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SPECIAL REPORT

TOP 100 BROKERS

Becoming more efficient, productive and customer-centric is the key to success in a tightening credit environment. Total figures may have dropped this year, but the Top 100 tell MPA editor Otiena Ellwand that theyâ&#x20AC;&#x2122;re still optimistic about the future

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WHILE VALUE and volume have become ‘bad words’ in the broking industry of late, they still count for something. There are a lot of insights to gain just by tallying the figures and analysing the data, which is one of the many reasons we have continued with the Top 100 listing. The numbers tell us things that words can’t always do. Not only is it an important way of recognising and learning from the accomplishments of some of the most productive and efficient brokers in the market, but it also gives us a better understanding of how the industry’s top participants are handling the latest onslaught of challenges. And if the top are feeling the pinch, then imagine how those at the bottom are doing. This year’s figures have dropped across the board, which proves what brokers have been telling us: as lending gets tighter, their jobs get tougher. They’re putting in more hours and more money per file to get the deal across the line. At the same time, the increased compliance demands have forced them to become more streamlined, consistent and thorough, which will produce better customer outcomes. Despite the current environment, these brokers know they’re still doing well in the grand scheme of things. Many of them have the advantage of years of experience, knowledge and connections, so they don’t have to worry about pounding the pavement and knocking on doors like their younger or newer counterparts must do. While numbers are an important indicator of progress and success, they will never show us the whole picture. Many brokers have pointed out that regional brokers have no chance of making it into the Top 100 despite how successful they are, because their loan sizes will never match those of a broker working in Sydney. That’s a fair comment, and something we need to work out how to accommodate. To those reading the interviews on the following pages, it will quickly become clear that, while the numbers these brokers are pumping out may not be attainable for everyone, they are in many ways just the same as the average broker: they want to help their customers achieve their goals and realise their dreams. Here’s how they did it.

$9.34bn

$323,534,150

Combined settlement totals of the Top 100 brokers

Total value of residential loans written by 2018’s No. 1 broker

MESSAGE FROM OUR SPONSOR At Suncorp, we’re for brokers and we are proud to support the MPA Top 100 Brokers, recognising our highest achievers in the industry. Our partnership approach provides brokers with the support of a residential BDM, small business BDM and phone-based BDM. Our sponsorship and support for the 2018 MPA Top 100 Brokers list is an extension of our commitment. I would like to congratulate the brokers who’ve made it onto this year’s Top 100 list, as well as the brokers and aggregators who participated. We sincerely acknowledge the role you play in helping customers achieve a better today. Congratulations to this year’s No. 1 Broker, Justin Doobov, who achieved this rank for the second year running. Justin achieved $323,534,150 in residential loans over the year. This is a remarkable achievement and testament to his hard work, dedication and commitment to his customers. This year’s Top 100 have demonstrated commitment, service and support to deliver the best outcomes for their customers. This is an important forum to recognise their hard work and professionalism. We are proud to support them – and all brokers – for the greater access and choice they provide customers. Mark Vilo Head of bank intermediaries, Suncorp Group

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TOP 100 BROKERS

100-75

MPA TOP 100 BROKERS: 100-75

#99 TECH-SAVVY BROKING

Rank

Name

Company

State

Total value of residential loans FY2017/18

Total number of residential loans FY2017/18

100

Xavier Quenon

Go Mortgage

QLD

$63,821,987.00

172

Confidence Finance director Redom Syed has made his second appearance on the Top 100 list, and for good reason. The innovative young broker recently launched MoneyBRAINS, a free online tool that provides instant insight and analysis into one’s household finances and risk position. “Today’s marketplace is characterised by high levels of household debt, a stock of interest-only loans that are due to mature inside the next three years, and relatively poor levels of financial literacy standards,” Syed says. “MoneyBRAINS is ‘robo-advice’ designed to help educate users about their debts and what level of risk their households’ finances are actually in.”

Redom Syed

Confidence Finance

NSW

$64,557,229.00

213

Whitlam Malkoun

Aussie

VIC

$64,615,917.38

143

Fane Levy

Shore Financial

NSW

$64,943,300.00

Sandeep Boob

RateOne Home Loans

VIC

$65,108,947.00

191

Ron Lloyd

Aussie Toukley

NSW

$65,134,873.46

156

Aden Williams

Alert Finance

NSW

$65,900,000.00

109

Robert Callander

Aussie Morayfield

QLD

$66,103,520.42

192

Michael Xia

Mortgage Channel

NSW

$66,146,898.00

238

Nobeel Khan

Aussie Blacktown

NSW

$66,461,589.25

111

Peter Febbo

Aussie Carlton

VIC

$66,465,441.48

120

Anthony McDonald

Port Finance Group

VIC

$66,600,000.00

Peter Corta

Aussie

QLD

$66,612,988.61

164

Nicholas Jones

Aussie Belmont

NSW

$67,021,117.88

154

Mario Borg

Mario Borg Strategic Finance

VIC

$67,052,435.00

114

Rod Peirce

Aussie

VIC

$67,293,561.23

128

Graeme Holm

Infinity Group Finance

NSW

$67,793,334.00

153

Toby Edmunds

Loan Market (Razor Finance Australia)

VIC

$67,804,242.00

128

#80 FAST-FOOD FOCUS

Tim Leonard

Mortgage Choice

VIC

$67,824,388.00

139

Doreen Lehmann

Loan Market (Synergy Financial Partners)

VIC

$67,848,860.55

186

AUSUN Finance property portfolio manager Thomas Tang applies an unusual strategy to broking: “I treat my business like McDonald’s. I break down each small step of the loan application, and systemise the process. Then, lastly, I develop its efficiency and accuracy.” Tang has used this technique to train casual staff and free up hours of his time to focus on the customer, business development and policy research. The technique seems to be working, allowing Tang to crack the Top 100 list for the first time.

Thomas Jiyun Tang

AUSUN Finance

VIC

$68,000,000.00

100

Angelika Darbinian

Aussie Crows Nest

NSW

$68,068,507.97

Ian Simpson

Smartline

NSW

$68,207,150.00

120

Joshua Carleton

SMS Finance

QLD

$68,554,702.00

201

Jason Cuerel

Loan Market (Mortgage Innovations)

QLD

$68,819,634.74

184

Kapil Nepal

Maya Finance

NSW

$68,937,195.00

237

WHAT ARE SOME OF BROKERS' BIGGEST CHALLENGES? Josh Bartlett: “There are huge challenges in the industry with the banks tightening. It is giving brokers a huge opportunity to step up, work harder for great customer outcomes, and find great solutions.”

Andrew Mirams: “Being willing to educate clients on the new changes and also willing to say no. The market has moved, and as a profession we need to take a lead and move with it for the long-term benefit of Australian households.”

Kevin Agent: “The need to lift education and skill levels … The ongoing change, and speed at which the compliance regime and knowledge requirements lift, will also see an exodus from the industry. ”

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SPECIAL REPORT

TOP 100 BROKERS

74-40 #48 RACKING UP PRIZES Keith Caine and his Adelaide team have had a great year of winning deals – and competitions. Not only did he, as an individual, make it onto this year’s Top 100, but his Mortgage Choice Glenelg franchise came in fourth in the MPA Top 10 Brokerages contest, with the largest loan book, $1.1bn, among its rivals. He chalks up his success to longevity in the market and excellent customer service.

#58 A LOCAL GIANT It was a big year of change for Leon Spadavecchia, who merged his SA brokerage with Angelo Benedetti’s last October to form Financia. Bringing together expertise, a vibrant team and their databases of thousands of contacts has given this new brokerage a wider footprint in the Kent Town region. The group has been able to grow its broker numbers and add a financial planning arm as well as a corps of support staff.

#57 SERVICING THE FAR NORTH It may be harder for regional brokers to make it onto the Top 100, but it’s not impossible, as Janine Ashmore’s stellar performance in Darwin and Palmerston shows. Making her debut in the Top 100, this Aussie franchisee is also the only NT broker on our list. Talking to the MFAA, she said consistency, community, marketing and referrals have helped her succeed.

MPA TOP 100 BROKERS: 74-40 Rank

Name

Company

State

Total value of residential loans FY2017/18

Total number of residential loans FY2017/18

Michael O'Shea

Loan Market (Green Financial Services Group)

QLD

$69,357,826.61

141

Paul Hixon

Loan Market (W4 Financial)

QLD

$69,909,922.51

117

Andrew Algie

Addisons Advisory Group

NSW

$70,608,863.00

206

Balpreet Bal

Loan Market (WA Prime Finance Solutions)

$70,710,998.77

188

Jordan Chantry

Trinity Finance Group

VIC

$70,830,000.00

176

James Henwood-White

eSelect Finance

VIC

$71,279,308.00

104

John Lucci

Loan Market (J L Financial Solutions)

VIC

$71,673,971.67

114

Nathan Taddeo

Credo Financial Group

VIC

$71,770,458.00

189

Alycia Inglis

Stoneturn

NSW

$72,908,408.00

171

Anthony O'Flynn

IFA Mortgages & Finance

NSW

$72,965,110.00

251

Brett Wadelton

MY EXPERT

VIC

$73,007,056.00

308

Peter Goldberg

Pinnacle Capital

NSW

$73,038,862.00

128

Alex Ralec

Aussie Mona Vale

NSW

$73,481,427.62

112

John Kennedy

Mortgage Choice

QLD

$73,557,056.00

246

Trevor Ryan

Aussie Coolum

QLD

$74,099,985.00

212

David Steere

Summit Finance Group

VIC

$75,316,768.00

Leon Spadavecchia

Financia

$75,525,333.00

143

Janine Ashmore

Aussie Darwin

$76,172,909.22

211

Clinton Waters

Axton Finance

VIC

$76,297,502.00

Charlie Loveridge

Shore Financial

NSW

$76,578,322.00

Sam Carrello

Napoleon Finance

$76,781,291.00

171

Fabio De Castro

Oxygen Home Loans

NSW

$77,752,596.00

143

Josh Gilbert

Loan Market (Smart Choice Loans)

VIC

$77,825,341.21

129

Shareek Mohammed

Aussie Liverpool

NSW

$78,017,699.69

146

Natasha Choi

The Australian Lending & Investment Centre

VIC

$78,348,110.00

280

Kelly Cameron

Get Real Finance

QLD

$78,489,960.00

269

Keith Caine

Mortgage Choice Glenelg

$78,636,839.00

270

Jacky Gu

Broker Partners Limited

NSW

$79,541,083.00

181

Kathy Morris

SmartLend Mortgage Broking

VIC

$80,215,000.00

231

Deanna Ezzy

More Than Mortgages

ACT

$80,244,854.00

235

Alistair Baker

Aussie Moonee Ponds

VIC

$81,395,692.94

138

Joshua Durrant

Choice Capital

VIC

$82,093,815.00

136

Anthony Knight

Mortgage Choice, Erina

NSW

$82,736,066.00

173

Peter V Gwynne

Financing Property

QLD

$84,173,046.00

259

Sze Chuah

MLS Finance

NSW

$84,431,104.00

269

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25/10/2018 12:19:53 PM

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WHERE THE POWER LIES Despite Sydney home values dropping by more than 6% over the last 12 months, according to CoreLogic data, brokers in NSW still dominated in this year’s competition. But Victorian brokers are not far behind. While home values dropped by 4% here, the Top 100 saw a 54% increase in finalists from the Garden State. The number of brokers from Queensland and SA remained stable, while WA’s representation continued to slide, perhaps reflecting the impact of its weaker market. This year did see the addition of a female broker from the NT, a welcome surprise after zero representation for the past two years. Unfortunately, Tasmania remains the missing piece. For the third year the state put forward no Top 100 brokers, despite having one of the strongest housing markets in the country, with values up 8% in the last year, reports CoreLogic. As conditions tighten, the broking industry could see some contraction in the year ahead, especially if commission changes are introduced. “Fewer active buyers has led to higher inventory levels and reduced competition in the market. [This has] been compounded by affordability challenges, reduced foreign investment and a rise in housing supply,” said CoreLogic’s head of research, Tim Lawless. Brokers who don’t have efficient and productive structures in place, and a strong pipeline of referrals, might be most at risk.

Western Australia

Queensland

2 brokers $490,000

1 broker $510,000

15 brokers $530,000

Sam Carrello Napoleon Finance

Janine Ashmore Aussie Darwin and Palmerston

Colin Mason SMS Finance

New South Wales

42 brokers $865,000 Justin Doobov Intelligent Finance

South Australia

2 brokers $455,000

Victoria

Keith Caine Mortgage Choice Glenelg

No. of brokers

ACT

37 brokers $710,000

1 broker $683,000

Mark Davis The Australian Lending & Investment Centre

Deanna Ezzy More Than Mortgages

Median capital city dwelling price, October*

Tasmania

0 brokers $441,000

2018 Top Broker *Source: CoreLogic, October 2018. Note: Figures refer to capital city, not entire state.

AGGREGATORS IN TOP 100

AGE AND GENDER OF TOP 100 60–69 (2)

Northern Territory

70+ (1) 20–29 (7)

50–59 (16)

LARGEST FRANCHISES

LARGEST WHOLESALE AGGREGATORS

Aussie

Connective 18

Male: 88 Female: 12

40–49 (39)

30–39 (35)

Loan Market

19 AFG

14 Mortgage Choice 9

12 Choice Aggregation Services 9

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SPECIAL REPORT

TOP 100 BROKERS

45-11 39-11

Rank

Name

Company

State

Total value of residential loans FY2017/18

Total number of residential loans FY2017/18

Luke Torossian

Aussie Engadine

NSW

$84,844,382.31

133

Daniel Pym

Loan Market Double Bay

NSW

$84,861,802.97

Jarred Spurr

Sphere Finance

NSW

$85,485,991.00

193

Sarah Thomson

Loan Market Geelong (Thomson & Co)

VIC

$85,524,751.29

228

Hannah Nguyen

Loan Market (HAH Finance Solutions)

VIC

$86,159,105.33

195

Jordan Beh

Insight Property Finance

NSW

$87,822,027.00

167

George Tzilantonis

Aussie Berwick

VIC

$88,241,331.33

203

Paul Wright

MoneyQuest Wollongong

NSW

$91,399,721.00

379

Karen Bashford

South Coast Business & Financial Solutions

NSW

$91,409,268.00

829

Marvin Coleman

Mortgage Choice Oakleigh

VIC

$91,470,095.00

222

Nathan Aird

Universal Mortgage Experts

NSW

$92,107,642.00

253

Stephen McClatchie

Loans Australia

VIC

$94,084,167.00

166

Matt Cunliffe

Mortgage Choice in Brisbane City

QLD

$95,822,641.00

253

Josh Egan

Astute Melbourne City South/Gippsland

VIC

$95,854,834.00

233

Mark Stevenson

Bell Partners Finance

NSW

$96,440,935.00

181

Chris Crook

Aussie Shellharbour

NSW

$100,637,990.91

180

Raymond Teh

Mortgage Choice

NSW

$111,299,160.00

277

Ruan Burger

TIME Home Loans

QLD

$111,728,690.00

239

Daniel Zarkovic

Loan Market (Utopia Planitia)

NSW

$114,707,423.00

212

#32 CONSTANT COMMUNICATION

Dr Kiran Thapa

Capkon Investments

NSW

$115,121,241.00

406

Will Foster

Foster Finance

NSW

$118,399,140.00

202

A broker since 2002, Paul Wright knows how important it is to strive for growth and embrace opportunities for change. Last year he did just that by launching a new MoneyQuest franchise in Wollongong. “I always work on a yearly target, and I increase it by a minimum of 10% each year,” he says. His team remains in constant contact, communicating with every client and prospect at least 17 times a year.

Peter Ellis

Century 21 Home Loans

NSW

$120,570,297.00

146

David Thurmond

Mortgage Choice Berwick

VIC

$122,000,000.00

110

Anthony Alabakov

My Mortgage Freedom

VIC

$122,300,000.00

211

Michael Link

IMPRESS Financial Solutions

NSW

$122,918,416.00

295

Vishal Gupta

Unique Finance Services

NSW

$125,754,843.00

261

Daniel Hustwaite

Aqua Financial Services

VIC

$126,186,281.00

298

Glenn English

Aussie Carnegie

VIC

$127,817,029.31

260

Nathan Vecchio

Hunter Galloway

QLD

$137,749,000.00

342

#38 SHARING TURF WITH THE TOP By combining his mortgage broking and financial planning qualifications, new Top 100 entrant Daniel Pym has found success in Sydney's Eastern Suburbs. In 2017, his firm was a finalist for best brokerage of the year at the Australian Mortgage Awards. Pym may share turf with this year's No. 1 broker, but he's carved out his own niche.

#36 DREAM CATCHER Geelong-based broker Sarah Thomson has always helped people capture their dreams. Before becoming a broker, she was a wedding photographer. She fell into finance after responding to a classified ad in a newspaper. Now she’s one of the most successful brokers in the Loan Market network. “I think photography and finance are probably similar because you’re dealing with really important moments in people’s lives,” she says.

MPA TOP 100 BROKERS: 39-11

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THE DIP CONTINUES The value of loans written by our Top 100 Brokers fell for the third year in a row, slipping even lower than last year. The total value dropped by more than $600m to $9,341,845,322, the lowest level since 2014.

Top 100 – Combined value of settlements

Top broker’s total

$11bn

$500m

$10bn

$450m

$9bn

$400m

$8bn

$350m

$7bn

$300m

$6bn

$250m

$5bn

$200m

$4bn

$150m

$3bn

$100m

$2bn

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

$50m

Productivity

MPA's Top 100 Brokers wrote 21,893 loans this year – 2,402 fewer than last year. The median broker wrote 274 loans over 12 months. This year’s second-placed broker wrote the highest number of loans overall: 899.

Median total value The total value of residential loans written by the median Top 100 broker was $78,419,035, which was $5.6m less than last year.

The $300m mark Two brokers wrote more than $300m in residential loans over the last 12 months, which was the same as last year. Thirty-three wrote more than $100m last year, while only 24 repeated that this year.

ANALYSIS: 2017/18 IN BROKING Broking continues to become more difficult as this year’s numbers show. For the third year, Top 100 figures took a hit across both value and number of loans written. The total value of loans written fell by more than $600m, while the number of loans written fell by 2,402. Interestingly, however, this year’s median loan size rose by 6% to $440,647, although there was great variation in the numbers, with two Top 100 brokers averaging over $1m per loan, while 12 averaged below $300,000. Among this year’s Top 10, there were three newcomers, and only three brokers who managed to increase their loan volumes from last year. The No. 1 broker’s total dropped by more than $36m, while the rest saw their totals drop by between $8m and $20m. While last year’s overall decline could be explained by APRA’s macroprudential measures taking their toll on property investors – a crucial niche for many of the Top 100 – this year’s biggest challenges have been tighter credit conditions as a result of the royal commission, and a cooling property market. That scrutiny of the banks has been passed down to brokers in the form of anxious credit assessors who are demanding they

provide more paperwork, more proof, and more answers, sometimes to no avail. The application may still be declined, sometimes for preposterous reasons. One broker told MPA about a situation in which the bank claimed the broker was lying because a photograph from the valuation showed a swing in the applicant's backyard, which the bank took to mean the borrower had a child, which hadn’t been disclosed. To make sure these misunderstandings don’t stump the approval process, brokers continue to spend more time and money per loan application. Some of the Top 10 said they had become more ruthless about who they accepted as clients, because they needed to be sure it would be worth their time. With the big four banks less willing to lend for a variety of reasons, brokers are looking to non-banks and smaller lenders instead. There is one silver lining to this: it’s forced brokers to truly utilise the panel of lenders they have access to, reinforcing their value to borrowers. Despite the June 2018 quarter coinciding with the royal commission, brokers still settled 53.9% of all new residential home loans, the strongest June quarter yet.

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SPECIAL REPORT

TOP 100 BROKERS

WOMEN IN THE SPOTLIGHT This year’s list unfortunately saw a 25% drop in female representation compared to 2017. On the bright side, a handful of women made their Top 100 debut, including the leading lady.

Rank Name

Company

State

Total value of residential loans FY2017/18

Total number of residential loans FY2017/18

Karen Bashford

South Coast Business & Financial Solutions

NSW

$91,409,268.00

829

Hannah Nguyen

Loan Market (HAH Finance Solutions)

VIC

$86,159,105.33

195

Sarah Thomson

Loan Market (Thomson & Co)

VIC

$85,524,751.29

228

Deanna Ezzy

More Than Mortgages

ACT

$80,244,854.00

235

Kathy Morris

SmartLend Mortgage Broking

VIC

$80,215,000.00

231

Kelly Cameron Get Real Finance

QLD

$78,489,960.00

269

VIC

$78,348,110.00

280

$76,172,909.22

211

Natasha Choi

The Australian Lending & Investment Centre

Janine Ashmore

Aussie Darwin

Alycia Inglis

Stoneturn

NSW

$72,908,408.00

171

Jordan Chantry

Trinity Finance Group

VIC

$70,830,000.00

176

Angelika Darbinian

Aussie Crows Nest

NSW

$68,068,507.97

Doreen Lehmann

Loan Market (Synergy Financial Partners)

VIC

$67,848,860.55

186

LEADING LADIES Not only did Karen Bashford, general manager of South Coast Business & Financial Solutions, make her debut on the Top 100 this year and rank first among the women, but she also wrote a recordworthy number of loans. At 829 home loans this past year, she’s the second-highest writer by total number on the overall list. Watch out, Mark Davis! Hannah Nguyen, director of HAH Finance Solutions, a Loan Market franchise in the suburbs of Melbourne, celebrates another Top 100 appearance this year. She made significant gains on her ranking, shooting up from 73rd in 2017 to 35th place, adding about $10m to her total settlement figures.

NAVJEET SINGH MATTA Gain Home Loans, Norwest, NSW Aggregator: Finsure Total value of residential loans FY2017/18: $139,957,932 Total number of residential loans FY2017/18: 342

“I am really honoured and was really surprised that we made it to No. 10 and we were No. 19 last year, so that’s a good jump,” says Navjeet Singh Matta, owner of Gain Home Loans. “There are a lot of really good brokers out there doing a wonderful job. I’m quite happy with the results.” Matta increased his total value of residential loans this past year by more than $22m. He says a lot of his database – 95% of whom are from the Indian subcontinent – came back this year for new purchases and refinances. Matta also worked closely with the community, sponsoring sports, religious and other local activities, which generated a lot of business for the firm. To deal with the tighter scrutiny around living expenses, Matta started hosting quarterly workshops to educate clients on why the banks were asking for more detailed information and how clients could benefit from this. He also talked to investor clients about switching to principal and interest loans from interest-only, which he said helped later on to improve their borrowing capacity. “When we ask more questions, we can help them in a more substantial way to find them the product that really suits their needs. It was all about educating the clients and having the systems in place to ask those extra questions,” he says. He was also proactive about working closely with BDMs to stay on top of new compliance and policy requirements. Matta, who used to run a business in India in the entertainment industry, became a broker in 2004 after attending an information session in Parramatta. Over the last 14 years, he’s seen the industry become more professional and less transactional. “It’s become more like financial planning; we need to make sure the client has the ability and capacity to service the loan for life and we need to hold their hand through the whole property buying process,” he says. That means that the onus and responsibility on brokers to get it right has gotten even higher. “The client is trusting you with one of the most important decisions of their life.”

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JAMES HASSELLE Mortgage Choice, Miami and Burleigh Heads Gold Coast, Qld Aggregator: Mortgage Choice Total value of residential loans FY2017/18: $141,069,584 Total number of residential loans FY2017/18: 703

In 18 years of broking, James Hasselle says this is the hardest lending environment he’s ever experienced. “The biggest challenge has been the change in lender servicing and the time it takes for the bank to go through and process an application, and sometimes they’re a little bit too one-sided,” he says. Turnaround times, credit assessment and the lenders’ interpretation of their own policies have all been affected, and sometimes even the lenders realise they’ve gone too far. Some turnaround times for the bigger lenders have blown out to between seven and nine days, he says. It’s now more important than ever for brokers to set their clients’ expectations. “We’re literally saying, it’s going to be a tough journey. We’re still getting them approved, but expect us to potentially come back with questions.” While his team has always done a lot of client discovery, now it’s about making sure that’s all properly documented for lenders. They've also bolstered internal processes and started using new technology to keep in touch with clients and make sure they’re booked in for their annual home loan ‘health checks’. They're educating clients about what changes they need to make to prepare for positive credit reporting. “At the moment, it’s never been harder to get a loan and it’s never been tougher to understand it. Just normal Aussie mum-and-dads find it hard to understand how complex it has now become, and this is where we can basically help the customer more,” he says. While all this has been going down, Hasselle has also been helping another franchisee transition into retirement. He’s taken over the running of that business, expanding his footprint on the Gold Coast. “I’ve done this a long time and I still enjoy it. I still love it ... and I’m passionate about what we do and how we do it, and how we can improve it and be part of financing Australia.”

COLIN MASON SMS Finance Maroochydore, Qld Aggregator: AFG Total value of residential loans FY2017/18: $152,280,893 Total number of residential loans FY2017/18: 372

The royal commission has cast a long shadow over 2018, but that doesn’t mean it’s all doom and gloom for the sector. “Like all brokers at the moment the royal commission is having its effect, with credit tightening in the banking industry. That’s been a slowdown point for us, but numbers are still good. The market is still growing on the Sunshine Coast and there’s plenty of activity; it’s just about grabbing our market share year-on-year.” Mason has achieved this by being extra communicative with clients. “Clients are appreciative of everything that we’re doing because we’re really upfront about time frames from start to finish,” he says. With a team of 27 behind him, he’s been able to focus on what he’s best at: servicing his clients while they handle the back end. As compliance becomes more rigorous and time-consuming, having a team that can get files ready, check bank statements and prepare follow-up questions allows him to develop and nurture relationships with clients and referrals. “Otherwise you can get bogged down [in the paperwork] quite quickly, and that will affect your sales.” Over the last nine years, Mason has built a database of more than 100 real estate agent referral partners on the Sunshine Coast and beyond. He keeps up with those contacts by sending a weekly text message informing them about what’s happened in the past week and what “out-of-the-box deals” he’s been able to get over the line, as well as sharing other relevant tidbits of news about interest rates, ID requirements and living expenses. “On the back of the dramas in the industry, the real estate agent is at the coalface, and they’re seeing more and more of their contracts crashing because of finance being declined,” he says. Showing them what a broker can do for them and their clients has generated solid business for Mason.

On work-life balance How to retain staff Hasselle believes the key to this is allowing staff to have a business within a business, so it’s in their interest to look after their clients so they keep coming back. That has yielded results, with generations of family loyalty and word-of-mouth referrals.

Mason believes that once you form a pattern, it’s easier to stick with it. His strategy is to turn off his phone every once in a while at night or on the weekends. “With the way technology is built these days ... you can be accessible anywhere, so you have to be committed to switching off for two or three hours and giving yourself that down time.”

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SPECIAL REPORT

TOP 100 BROKERS

ANDREW MIRAMS Intuitive Finance Sandringham, Vic Aggregator: Connective Total value of residential loans FY2017/18: $154,264,802 Total number of residential loans FY2017/18: 338

Andrew Mirams may have dropped slightly from No. 4 last year to No. 7 this year, but he’s still the top bald broker on the list, he jokingly points out. Last year he put that up on Facebook for a bit of a laugh and got two deals out of it. “It’s all about the marketing. Why be No. 7 when you can be No. 1?” he says. “We can’t take ourselves too seriously. It shows a bit of personality and humour and engages people in a different way.” But seriously, what makes Mirams proud is not where he ranks on the Top 100; it’s that he’s getting 100% of his deals approved in this challenging lending climate. There may be more scrutiny of the channel and loan volumes may be down, but brokers are still “getting stuff done”, he says. “It doesn’t mean it’s not harder to get them through; it’s just I don’t give up very easy. I fight hard for my clients to get the right outcome,” Mirams says. Achieving that sort of conversion rate comes from asking for a lot of information from clients up front. Mirams says he doesn’t submit a loan until he’s completely sure that he has all the information he needs to satisfy the lender. He now has two brokers working with him, including his son. They each specialise in different niches, such as expats and home upgraders, self-employed and investors, and first home buyers. That way Intuitive Finance can be a generalised business with internal specialists. This past year, Mirams has been working on getting the balance right, distributing work to his fellow brokers so he doesn’t have to write it all. That allowed him time to take a seven-week holiday in Europe and regular quarterly breaks. There’s no doubt that in order to write the volumes that the Top 10 brokers do, they must work hard. But he says it’s not all about the numbers. “I enjoy working hard, but there’s no point just working hard and not enjoying life; it just goes too quickly. We work to live, not live to work.” Mirams is now in a transition phase and admits that “maybe in time I won’t feature in the Top 100, but hopefully I’ll have some other Intuitive Finance brokers up there”.

KEVIN AGENT The Australian Lending & Investment Centre Melbourne, Vic Aggregator: Connective Total value of residential loans FY2017/18: $159,588,749 Total number of residential loans FY2017/18: 446

Before he entered broking nine years ago, Kevin Agent was working as a banker. That gave him a unique perspective on these two distinct yet interrelated worlds, while also providing him with the skill set to compete in the modern broking environment. “Most of us at The Australian Lending & Investment Centre are ex-bankers, so we utilise the same sort of structures and disciplines from our old lives,” Agent says. “Since day one we’ve been process-driven, and we’ve moved further in that direction.” With the business expanded to 45 staff, it’s clear that establishing strong support structures early on has yielded long-term results. It’s an approach Agent advises young brokers starting out to adopt as well. “One-man-band operations still need support functions behind them, but the problem is they often don’t want to pay for it,” Agent says. “That’s fine for a while, but if the market changes it could expose them drastically. Spend the dollars and invest in resources that will help you achieve long-term growth.” This year marks Agent’s third year in the Top 10, moving up from seventh place in 2017. Over the past year, he’s been focused on educating clients about changes in the market and making sure they don’t overcommit themselves. “The younger generation doesn’t know what a recession is, and that scares me a bit. Interest rates won’t stay this way forever; we will eventually have some sort of cleaning out of the economy. Our responsibility is to guide our clients responsibly.” Sometimes that involves talking a client down from a $1m loan so they don’t end up in debt for the rest of their lives. He says they need to understand the implications a change in circumstances may have. Additional regulations and increasingly cautious banks have brought a whole new set of complications to the field. “It’s a hell of a lot harder than it was,” Agent says. “Deals are much more complex, and the skill base in the banks has been diluted too, which means it’s tougher to get deals through. There’s a much higher rate of exceptions.” Nonetheless, Agent remains optimistic about future prospects. “Most clients are in pretty strong positions,” he says. “Investors will buy in a downward or upward market – the worst market is an indecisive market.”

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DANIEL O’BRIEN PFS Financial Services Bella Vista, NSW Aggregator: PLAN Australia Total value of residential loans FY2017/18: $159,946,752 Total number of residential loans FY2017/18: 370

If there’s one thing that can be said about Daniel O’Brien, it’s that he’s consistent. Among the brokers in the Top 10, his figures are some of the most stable. He wrote 30 fewer loans this year, but the total value was worth about $230,000 more. “We were always fairly thorough with what we asked clients for, so the changes didn’t hit us as hard as perhaps it hit others,” O’Brien says. He and his team did make some minor tweaks to systems and processes, mainly around what documents to ask clients for and when. “I guess we just got a bit more ruthless with the people we chose to do business with, whether it be clients, referrers or banks,” he says. “We have more work to do now, post APRA and the royal commission, so we can’t waste time on unproductive relationships.” Nevertheless, O’Brien still managed to grow his business via “the simplest of methods”, he says. “Being efficient, communicating often and thoroughly with new and existing clients, having a sense of humour, telling the truth, doing what’s in the clients’ best interests, etc. We don’t strive to be cutting edge; we just focus on doing the little things well.” At the same time, he acknowledges that experience, reputation and a good track record go a long way with lending-shy credit officers. When O’Brien explains the reasons why they should do a deal, they listen. “They listen because, in 14 years [of doing business] we have never had a fraudulent deal, we have never done the wrong thing and we have never had a mortgagee in possession. This track record means something. So when we do push for a deal to get supported, our prior track record comes into account. And so it should,” he says. That doesn’t always guarantee a yes, but he believes it does give his business a better chance in this credit environment.

On working hours O’Brien is rare among the Top 10 because he actually works a regular 35-hour week, something he says is down to his processes and very experienced team. His operations manager, Josh, has been with him for 12 years and “basically runs the show”. So the team of four has ironed out the kinks and learned from their mistakes, enabling the business to run like a “Formula One race car”.

DARREN LIU My Home Loan North Sydney, NSW Aggregator: Finsure Total value of residential loans FY2017/18: $182,305,332 Total number of residential loans FY2017/18: 224

“I’m a bit in shock; I didn’t expect to get to this level,” Darren Liu said when he found out he’d cracked this year’s Top 10. Not only did he come in fourth behind some serious heavy-hitters, but this also marks his debut on the Top 100 list. Liu says he thinks he got to the top because he seizes new opportunities and tries to find more ways of servicing the same client. While commercial figures don’t count in the Top 100 tally, broadening one’s offering generates referrals and keeps clients in the fold. “When you give them more comprehensive service, they’ll appreciate your efforts,” says Liu, who’s been a broker for eight years. “We take care of the customer and then the customer will appreciate that and we’ll generate more business out of it.” It’s now more important than ever for brokers to broaden their use of lenders so they can provide more options to their customers. That means brokers also need to be across more products and policies and should talk to lenders often to keep abreast of the changes. “Now you need to be very clear on all details. Don’t make assumptions; discuss policy and deals up front to prevent dramas,” he says. To go far, brokers also need a solid team and strong branding. “You need to be able to draw on your team; it’s not an environment for a one-man band any more,” he says. The brand has also become more important as people look for brokers who are reliable and trustworthy. But he warns brokers not to expect customers to be generated from a single marketing campaign. “It is the long-term relationships we’ve maintained and the education we’ve provided that has slowly built this up.” Liu's team have also worked on simplifying and fine-tuning their sales procedures. One of the ways they did this was by standardising their phone conversations so every employee follows the same steps to qualify customers for the second stage. This helps prevent staff from getting stuck on long-winded phone calls and ensures customers receive the same service and information. “Time management is very important to get the business to a new level,” he says. Next year, Liu will take a step back to focus more on managing and growing his team and sourcing new opportunities.

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SPECIAL REPORT

SPONSORED BY

TOP 100 BROKERS

JOSH BARTLETT Financially Healthy, Loan Market Bayside Cheltenham, Vic Aggregator: Loan Market Total value of residential loans: $203,798,651 Total value of residential loans FY2017/18: 400

Josh Bartlett was one of only three Top 10 brokers to increase their total loan values this year. Just like last year, Bartlett added more than $19m to his total, which he says is partly to do with being an eight-year veteran of the industry and not having to chase business. He also credits his three staff members, who have been with him for several years. He may have lodged 85 fewer loans, but he had “much tighter processing around each client”, including which clients he met, the conversations they had and the follow-up process. In order to stay abreast of lending changes, he and his team spent time nearly every day of the week training. “We’re obsessed with credit policy training,” he says. He also brought in a new BDM each week. While he settled more this year than in the past, Bartlett says it's become easier. When he sits in front of a client now, he feels like he knows them better and understands what they’re after – and it’s not just rate or product. “The client has to know you, trust you and understand the information that you’re giving them.” Brokers also need to spend more time listening to find out why their clients are actually there. In the past, Bartlett used to see anyone who walked through the door, but he’s become more discerning now to ensure each meeting is worth it for both client and broker. Because his team are so confident about policy and the nuances of different banks, the market changes have actually helped differentiate his business. “Last week, for example, we put in 13 loans to 13 different lenders for 13 different clients.” Bartlett didn’t let that go to waste: he used it in marketing material that he sent to his real estate agent network. “It just goes to show the expertise that a broker brings to the table. As a broker, we’ve got choice.”

On work-life balance Bartlett has stopped working Saturdays so he can watch his children play basketball. “It’s allowed my business to run more efficiently and helps my team not be under the pump as much,” he says. “It created too much business and too many problems.”

MARK DAVIS The Australian Lending & Investment Centre Melbourne, Vic Aggregator: Connective Total value of residential loans FY2017/18: $300,909,867 Total number of residential loans FY2017/18: 899

Mark Davis wrote 899 loans this past year and conducted every single interview himself. How did he do it? Forty interviews per week. In these changing times, people tend to halve their communication because they get so busy, which is the opposite of what one needs to do, Davis says. Now is the time to triple it. The ALIC team communicates with clients every three days, unless they’re told otherwise. “Especially in this market, they want to know that everything is OK. ‘I’ve got nothing to update you on; everything is under the control.’ Because we have more sophisticated investor-type clients, they’ll be all over you like a rash if they think you’re not in control,” he says. Not only do brokers need to up their communication, but they also need to increase their training and streamline their processes. “We’ve made huge changes to the way we operate over the last six to 12 months because the banks are changing on a daily basis,” Davis says. “You need to increase your intensity and put more time in. I didn’t think I had any more time, until you sit down and push yourself a little bit harder.” While training will take more time up front, it saves time in the long run, Davis says. “You can’t afford not to train,” he says. “You don’t have time not to adhere to absolutely everything – one-on-one’s, managing meetings, updates, introduction calls, follow-up calls, updating the client every three days; it’s process, process, process. “You do all that and actually save time. You save time by becoming better and more efficient, by being proactive rather than reactive.” He says it's important to be able to sort out quickly whether there is a deal to be done or not. Many clients come to ALIC after being turned away by other providers and expect them to be able to “pull a rabbit out of a hat”. But Davis isn’t deterred. “It is an investor market; our business model has been built for bad times, so astute investors actually operate in bad markets and make the most of their money in these times. In the next three to six months, we should be coming into some of our best times ever.”

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SPECIAL REPORT

TOP 100 BROKERS

JUSTIN DOOBOV

Aggregator

Choice Aggregation Services

Total value of residential loans FY2017/18

$323,534,150

Number of residential loans FY2017/18

408

Intelligent Finance Bondi Junction, NSW

Justin Doobov is this year’s top broker for a reason: when it comes to servicing clients, he says he doesn’t differentiate between them. He’ll write a loan for the CEO of a public company, and that CEO’s secretary. He’s got first home buyers coming in to see him – albeit more of the waterfront mansion variety – and investors with 45 properties. Doobov’s business relies entirely on word of mouth from existing clients, and this in turn acts as a bit of an initial vetting process for new clients, because “like attracts like”. “Our philosophy is we look after every customer the best that we can,” he says. “We offer them the best service that we can, and we know that the client will then become a raving fan.” Intelligent Finance invests nothing in conventional marketing. “We spend our time, effort and money servicing the client, and then that client becomes a moving billboard.” Regardless of who they are, they all get the same service, Doobov says. That can happen because he’s invested in his staff, built the systems and has the backend support they need. Getting the process right the first time means his administration team can eliminate time wasted going back and forth between lender and client, and ultimately lift conversion rates. Doobov is the only broker at Intelligent Finance, but he’s got a team of seven in Sydney and eight in the Philippines processing applications and looking after his existing client base, which frees him up to meet new and returning clients face-to-face. That might explain why, even in this year’s tighter lending environment, Doobov was still able to write 408 loans worth $323m. That doesn’t mean he was immune to the challenges, however. His total volume of new loans did contract by $36m this year compared to last year, and he settled 185 fewer loans. He says it takes two to three times longer for an application to be approved than it did two years ago.

“There are so many extra steps and compliance hurdles that need to be met that it just adds more time, complexity and paperwork to what should be a relatively easy loan application. Most brokers are feeling that pain; even just the difference in lenders’ rates and product offerings is time-consuming to sort through.” The industry’s reputation has also taken a hit this year. When Doobov started as a broker 17 years ago, and established his own business working out of his parents’ three-car garage, he says people used to treat brokers like they were superheroes. “People would want to see where my cape was,” he says. “We walked in there and clients were paying crazy rates directly to the banks and we were able to save them a fortune. “Now, with the royal commission and everything else, it seems like people with non-broker vested interests are trying to muddy the broker name and industry, when, in general, most of the broker industry only does good for clients.” Part of doing right by your customer involves servicing them beyond settlement, which is a duty Doobov takes to heart. “We say to the customer: we will manage you until that loan is paid off. Any questions, any issues, any changes or modifications you need ... call us and we’ll get that solved.” It may be labour-intensive, but Doobov is an advocate of buying products with a lifetime guarantee. “We’ve gotten you into the debt and we’re going to help you with that debt until you’ve got it paid off.”

“We spend our time, effort and money servicing the client, and then that client becomes a moving billboard”

On work-life balance While Doobov is not regularly up at 3am and in bed at 11pm any more, he still works seven days a week. “I’ve got a very understanding wife, and that’s one of the key points. My wife understands that I’ve got a job to do, and I’ve got to service these clients. … By me helping clients achieve their dreams, my family are able to financially achieve their dreams as well,” he says.

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SPONSORED BY

Justin Doobov (left) is presented with the trophy by Mark Vilo, head of bank intermediaries at Suncorp

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FEATURES

SME LENDING

SMALL IN SIZE, BIG IN INFLUENCE SMEs are arguably the lifeblood of the Australia economy. So how can brokers better aid their charges in securing finance, especially as it becomes harder to come by?

WHEN THE average person conjures up the image of a business, they tend to think of a large corporate entity. But that would be ignoring an important sector in the middle. Of the 2.24 million actively trading businesses in Australia, around 1.9 million are estimated to be small businesses. Only 3% of Australian businesses have 20 or more employees, which just goes to show that size doesn’t connote scale of importance to the economy. It’s therefore a significant market for lenders and brokers. Data from the Australian Bankers’ Association suggests that about half of small businesses in Australia use a business loan facility other than a credit card. According to a background report on small business loans prepared for the royal commission, in December 2015 bank loans to small businesses totalled a staggering $261bn. This doesn’t even account for nonbank services, which suggests that the final total is likely to be significantly higher.

Brokers have a important role to play in aiding SMEs and self-employed borrowers, particularly when it comes to securing premises for their businesses. MPA spoke to some of the top providers in Australia – and an aggregator that is leading the way in diversification – to find out about the current state of the market and the opportunities for the future.

How is your business developing and pushing the boundaries of small business lending, and helping brokers seize the opportunities in this sector? FAST When it comes to the opportunities in the SME space, there are a lot of reasons why brokers should branch out and assist this booming market. But purely from a perks perspective, these clients often stick with

their brokers for longer than typical homeloan-only customers. “The relationship between a broker and SME client typically runs deeper, as the lending is generally more solutions-based, requiring the broker to have a solid understanding of their client’s ongoing cash flow requirements as well as the industry in which they operate. This creates greater loyalty among SME clients,” says FAST CEO Brendan Wright. Also, in many cases where a customer is self-employed, their home lending and business lending become closely linked, leading to higher broker retention rates. Diversifying into small business lending has worked for FAST’s brokers. In 2018, the aggregator’s brokers settled over $7bn in business and asset finance loans. Now, more than a third of all business loans originated by the third party channel in Australia have come through FAST brokers.

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Bluestone Royden D’Vaz, head of sales and marketing at Bluestone, describes self-employed people as the “engine room of the Australian economy”. But if any engine is going to go, it needs gas. That’s why the non-bank lender has products that provide newly formed SMEs with the injection of cash they need to get off the ground during those critical early stages of development. Rather than waiting for 24 months before they have a full tax return, Bluestone uses the applicant’s bank statements and BAS to verify their income. It also accepts accountants’ letters. “Our ‘Business Easy’ product is unique and caters for self-employed borrowers starting up a business, enabling them to borrow funds with an ABN just three months old,” D’Vaz says. The lender also offers a product that’s suitable for businesses that have had their ABN for 12 months and are looking to expand and grow. “We recognise that business owners often struggle to access mortgages because of the extra level of income proof they have to provide compared to their PAYG counterparts, so we do our best to offer a variety of ways they can meet income verification requirements.”

OnDeck When it comes to pushing boundaries, OnDeck has checked that one off the list. As one of the pioneers of the global fintech movement, it identified that there would be a major credit gap for SMEs looking to borrow from mainstream lenders over a decade ago. And it believed the answer was to deliver funding via the internet. Since arriving on Australia’s shores in 2015, the online small business lender has been busy forging partnerships with the likes of MYOB and Credit Suisse, while also focusing on developing customer-centric and innovative products for the benefit of small businesses, says Michael Burke, head of sales at OnDeck.

But one big difference it champions is its thinking about the broker-client relationship. “OnDeck believes the broker has total ownership of the customer relationship and that its role is one of support of that relationship and collaboration with the broker in a way that is fair, transparent and accessible,” he says.

enable more brokers to offer a commercial real estate product in the future, using the same skill set they’ve honed by writing residential mortgages every day. “Brokers have been asking us when we’re going to take to this space, because they believe the industry is starved of product and the service to match.”

Pepper Over at Pepper Money, it’s exciting times for Australia CEO Mario Rehayem, who tells MPA that the non-bank recently launched a commercial real estate product for a market that’s long been “heavily underserviced”. The new product, which will provide funding from $150,000 to $5m, will initially begin as a pilot project for the largest commercial writers. Once the lender receives their feedback, it will make any changes necessary and then offer it to its larger network. There is a large customer base that has been rejected or not been able to successfully acquire commercial real estate in the past due to the lack of risk appetite from many banks for that type of product, he says. With this in mind, Rehayem hopes to

Liberty John Mohnacheff, group sales manager at Liberty, feels that the lender’s unique understanding of risk and its partnerships with fintechs like Moula enable it to find more ways to say yes to customers while also servicing a broader section of the market. “To help brokers embrace commercial lending, we have built an entire division dedicated to the sector,” Mohnacheff says. “Our BDMs, underwriters and settlements team can all help brokers to help more clients. We have structured ourselves to support brokers in every way so they can concentrate on finding solutions to help self-employed and business owners reach their next milestone.”

KNOWING YOUR TIME-POOR CLIENTS Brendan Wright, CEO, FAST No broker or SME client has time for multiple meetings, so FAST has come to the rescue with its business operating platform, Podium. Through the platform’s electronic lodgement capability, brokers can get a handle on the sizeable paperwork loads often associated with commercial loans. Podium also features a direct marketing tool that allows brokers to target existing and potential SME clients with regularly updated campaigns and tailored messages about commercial and asset finance. “This takes the guesswork out of what messages to communicate and when, enabling brokers to develop more rewarding relationships with clients and leads through personalised, timely and relevant communications,” Wright says.

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FEATURES

SME LENDING

What are some of the biggest challenges facing self-employed and SME borrowers at the moment? Equity-One Access to credit has been and continues to be a real issue for SMEs, according to Equity-One managing director Dean Koutsoumidis. Earlier in the year, the lender dealt with a borrower who had historically enjoyed a good relationship with one of the big four but was now confronted with difficulties in getting finance. The client was trying to purchase a quality property and had a respectable deposit and ample capacity to service the loan, yet his banker of 17 years was unable to assist. “This is where we try to be as relevant as possible, to really try and provide a solution for brokers and their clients,” Koutsoumidis says. “Scenarios like these are the reason we are a relevant option for commercial borrowers requiring an alternative to their traditional funding sources.” And he believes these sorts of scenarios are just the “tip of the iceberg”.

NAB Challenges around finance for SMEs are often linked to a lack of equity, says Chris Thomas, general manager of NAB commercial brokers. “Accessing finance remains a key challenge, particularly for smaller and micro businesses that often don’t have property, or other major assets, to secure against,” he says. Accordingly, NAB brokers can help these customers through NAB QuickBiz for Broker, which provides end customers with access to an unsecured facility, often as part of a broader financing relationship with that customer. It’s this solution that Yellow Brick Road Carlton franchise owner Aleksandar Naumoski turned to when he found many of his SME clients coming to him for working capital. He started looking into unsecuredlending options and found the QuickBiz

product to be transparent, customer-friendly and simple to use. “One of our clients was very surprised at how quickly we were able to turn around their online approval. Customers are often expecting a long, drawn-out process, and when we are able to get an approval in 48 hours they are very surprised and happy with the result,” Naumoski said in a testimonial to NAB.

FAST With more than two million small businesses now operating in Australia, the SME space is undergoing significant growth. According to the latest NAB quarterly survey, small business expectations of capital expenditure over the next few months are at their highest level in recent years. Despite the strong demand, access to capital for SMEs remains a challenge. However, FAST is taking steps to cater to the broader financing needs of clients operating businesses in industries such as health, retail, pubs, accommodation and transport.

“We are starting to onboard more specialist lenders to our 45-strong lending panel to make it easier for our brokers to find solutions for their SME clients,” Wright says.

OnDeck Australia has been fortunate to have strong trends that support the growth of online SME lending, including growing fintech adoption and a favourable macro environment. Combined with positive self-regulatory efforts, these have encouraged optimism around the SME sector. However, there have still been challenges, particularly around cash flow. “Industry data shows that one in five Australian small businesses were unable to take on new work because of cash flow restrictions,” says Burke. “Additionally, nine out of 10 businesses said better cash flow could have improved revenue by an average of 11.7%. These statistics play no small part in why fintech in Australia is transitioning from alternative lending to mainstream lending.”

TECH-SAVVY LENDING Michael Burke, head of sales, OnDeck “OnDeck uses proprietary technology and a small business credit-scoring system, the OnDeck Score, to more efficiently evaluate a business’s creditworthiness and make lending decisions in real time. “With as little as three months of bank statements, OnDeck can supply customers with up to $150,000 in funding and an attractive fee structure in as little as one business day.” OnDeck’s cutting-edge technology and service is just one of the reasons it’s become the world’s largest non-bank online lender to small businesses by total loan volume, Burke says. It recently became the first non-bank online lender to surpass $10bn in total loans originated to over 100,000 small business customers globally.

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FEATURES

SME LENDING

Bluestone Traditionally, small businesses have found it extremely challenging to fund growth or expansion, as mainstream lenders need fully audited and lodged tax returns in order to lend to them, says D’Vaz. By contrast, non-banks like Bluestone have the flexibility to offer highly competitive, fully verified loans as well as alternative methods of verifying income. “Unlike mainstream or major lenders, we take the time to get to know our customers’ individual circumstances by using personal bank statements, BAS and business bank statements if tax returns are not available,” D’Vaz says. “If brokers embrace the offering of the non-bank sector, these borrowers can be educated on some of the products available to them.”

Pepper In the commercial real estate market, the banks still apply very rigid, old-fashioned, paper-based processes, which come with a whole slew of other challenges. In the past, the banks exercised strong controls over who had access to and who could write what commercial products, Rehayem says. Pepper has designed its new product to be

accessible, and its processes will be familiar to those brokers who already use the lender for residential mortgages. It will also apply its cascading credit model to the commercial file. That means that if the client doesn’t fit into the prime category first, they will automatically be reassessed under the near prime criteria. “This gives the broker and the customer a high probability of success in the application, which is not really the process that is adopted elsewhere.”

How do you think the royal commission will affect small business lending going forward? Has it already affected loan flows? Liberty “The royal commission will affect all lending in some way,” Mohnacheff says. “What brokers need to remember is there are still lenders prepared to help good business customers, including the self-employed.” Mohnacheff is adamant that Liberty will maintain its commitment to working with SMEs, even with future changes to legislation likely ahead. “Small business owners are the backbone

QUICK TURNAROUNDS FOR SMES Chris Thomas, general manager of commercial brokers, NAB “In response to growing demand from small business owners and their brokers, this year NAB introduced QuickBiz for Broker. This product enables brokers to offer unsecured business finance of up to $100,000 to small business clients. “The NAB QuickBiz product suite also includes an overdraft facility of up to $50,000, giving small business clients the flexibility to manage their cash flow and unexpected payments. On application, brokers receive an instant online decision and their small business customers can access funds within one business day once signed documents are returned.”

of the Australian economy,” he says. “These people take significant risks; they’re prepared to give it a go, and Liberty firmly believes we need to be there to help them achieve their business goals.”

Pepper “My personal opinion is that loans should always be treated under the [NCCP Act] purely on the basis that, regardless of whether it’s commercial or SME or residential, there’s still a human at the other end of that loan, so it should be as transparent as possible,” Rehayem says. At the same time, any new regulations have to be applied thoughtfully. “In any market where you push harder regulation, there is going to be a compression of business flows,” Rehayem says. “We’re already starting to witness that in residential, and that will happen in commercial. There has to be a balance, because if you go too far you’ll stifle people from getting loans, which means they will not be able to encourage entrepreneurs to try something new.”

Bluestone The heightened spotlight on the industry with the various reports, forums and commissions has created a strong market dynamic for non-bank lenders, D’Vaz says. Indeed, the loan flows at Bluestone have more than doubled over the last few months, partly as a result of the mainstream lenders pushing further up the credit curve. “As the mainstream lenders tighten their credit policy as a result of the focus on our industry, it has left a void that is easily filled by the non-banks,” D’Vaz says.

Equity-One Despite the many unknowns on the horizon, the lender has been seeing enquiries for its products grow. “This has been a trend for a couple of

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FEATURES

SME LENDING

BUILDING BROKER-CLIENT LOYALTY Royden D’Vaz, head of sales and marketing, Bluestone Ensuring there’s a positive working relationship between broker and SME client is crucial, says D’Vaz. It’s also in Bluestone’s interest to foster that relationship. “Due to the fact that these borrowers experience difficulty in obtaining finance, they tend to be more loyal and stay with the broker that finds them a solution to help grow and expand their business. “Brokers should take the time to understand the borrower’s business and individual circumstances and help them with a plan to facilitate their financial needs and objectives. They are no different to individual home loan customers – notwithstanding they have a small business rather than a PAYG job.” years now as banks continue to tighten credit policies, and we certainly can’t see these policies being freed up at the conclusion of the royal commission – in fact, quite the opposite,” Koutsoumidis says. “Broadly speaking, responsible lending obligations should always be taken into consideration with any lending to ensure that borrowers are getting the right product for their needs, with the ability to tailor it to their business to assist with growth and prosperity.”

NAB Thomas is reluctant to “pre-empt” the commission’s work, but he is quick to point out that it was “necessary and justified” and the industry is likely to see some changes as a result. “Brokers play an essential role in the lives of many Australians, across both residential and commercial lending, and NAB will continue to advocate for changes that support the best outcomes for consumers. “We will continue to focus on lifting the bar in both the residential and commercial

lending sectors, focusing on strong processes, data collection and customer service.”

Many brokers have already diversified into SME lending, so what should they do now about servicing and retaining those clients? How is it different from working with home loan customers? NAB For brokers who have already expanded into commercial lending, Thomas says it’s important to understand the mindset of a small business owner in order to deliver personalised service. For example, small businesses need finance for a range of reasons – from managing cash flow because customers are slow to pay, to borrowing for expansion – and often require access to funds quickly. “However, while there are these obvious differences between residential and commercial, there are also some similarities. Across the board, consumers are increasingly time-poor and seeking a seamless, hassle-free experience. That is why it is important for brokers to work with partners like NAB who can assist by investing in the latest tools and technology to enable a great customer experience.”

OnDeck Burke says OnDeck supports the objectives of the royal commission to ensure that the financial services sector acts with integrity. The final report will have some implications for small business lending. “OnDeck demonstrated its commitment to responsible lending by proudly becoming one of six online lenders to set a new precedent for the protection of small business in Australia by signing an industryfirst Code of Lending Practice on 30 June,” Burke says. “Signing the Code was an obvious choice for OnDeck in building a well-governed responsible lending environment for the protection of small business in Australia.”

KEEPING IT SIMPLE Dean Koutsoumidis, managing director, Equity-One “In such a challenging market where brokers and their SME clients are finding it more and more difficult to satisfy the requirements of the big four, we are deliberately trying to keep things simple. “While many lenders were making terms more prohibitive for their clients, the big winner for our clients has been giving the borrower the ability to repay their facility after 90 days without having to pay any interest break costs. This gives the client the comfort of taking out a 12-month facility but having that flexibility to be able to repay the loan after three months without paying break costs. It’s about giving options to the client.”

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Equity-One First of all, brokers need to ensure the product is right for their client, and then maintain ongoing contact with them during the term of the loan, which will help them retain the client going forward, Koutsoumidis says. “Keeping abreast of trends and products and knowing the client’s future needs and goals is very important in the SME space. No client wants to enter into a loan agreement and be left out in the cold, and that is where the relationship between the lender and the broker becomes so important.”

FAST “Knowing your customer is crucial for brokers expanding into the business lending space. Make sure you’re asking your clients the right questions, and finding out their short-term hurdles and longer-term goals,” Wright says. FAST knows that in order for brokers to diversify successfully, they need wideranging support. “One way we do this is by ensuring brokers are kept up to date and informed on the latest industry changes and policy through ongoing broker forums, partnership manager-run workshops and webinars, and our monthly publication, FAST Matters. Brokers can also

DELIVERING SERVICE TO HUMANS Mario Rehayem, Australia CEO, Pepper Money, Australia “Irrespective of the royal commission, we’ve got a person on the other side of that loan. You’ve got to treat them right and bring the human piece as part of the assessment. Ask vigorous questions in the context of living expenses. ... You don’t want to give a loan to someone knowing that you may place them in hardship. “If you want to deliver a great service, record every interview you do with a customer. Send them the recording and take notes on what the customer’s requirements were at that point in time. It becomes good record-keeping and an insurance policy for you too.” subscribe to updates and publications from our panel of lenders for business insights relevant to clients’ specific industries.”

Liberty The secret to customer retention is not complex, as it turns out – at least not to Liberty. “The key to retaining any customer is quite simple,” Mohnacheff says. “Keep the communication lines open and show the customer you appreciate their business and that you are there to help them achieve their financial goals.”

COMMITMENT TO COMMUNITY John Mohnacheff, group sales manager, Liberty “Our biggest offering is our commitment to helping business owners achieve their financial goals. There has been a lot of change recently in the commercial lending space, and this has resulted in a number of lenders pulling back. Business owners shouldn’t be concerned – Liberty remains committed to serving this important part of the community. “Businesses are definitely facing stronger headwinds, although when you look at the data, things aren’t as bad as some media outlets portray. “While business confidence is down, more important economic indicators like GDP growth are still strong, and this is a good thing for business owners.”

Pepper Having come from a mortgage broking background, Rehayem says brokers should conduct a client review every 12 months to find out how the business is trading, whether pressures are mounting or changing, and what their plans are for future growth. “It shouldn’t be a sales call. This is a ‘how are you, how is everything travelling?’ call. ‘How is the lender that I recommended treating you?’ “I believe that every loan should be administered or carried out in the same manner. What’s in the best interest of the customer, what’s the best possible product suited to the customer, how thorough is your questioning with regard to the customer’s understanding of the new debt they’re taking on board, and how it will impact their lives?”

Conclusion There’s no doubt the coming years will bring change. It seems unlikely that any sector or subsector within financial services will remain untouched by the royal commission. Nonetheless, lenders and aggregators are still eager to work alongside brokers to help them provide the services and solutions SMEs so desperately need. With the right products and attitude, existing and new SMEs alike should be able to flourish well into the future.

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FEATURES

VENDOR Q&A

GOING THE DISTANCE FOR BROKERS PLAN Australia’s CEO, Anja Pannek, explains how the aggregator is providing brokers with the back-end support and upfront training they need to provide good customer outcomes and standout service that clients remember

MPA: Can you give us some examples of what PLAN brokers do to keep in touch with clients post-settlement? Anja Pannek: Post-settlement has evolved to be a very important part of the broker and client journey. Brokers with leading business practices integrate this into their processes and have moved away from ‘transactional’ broking to establishing important long-term relationships. This is why our members are using various touchpoints to strengthen client relationships even after the loan has settled. These include regular newsletters with market insights, annual home loan reviews, and going above and beyond to celebrate major client milestones, such as their first anniversary in a new home, a birthday or a wedding anniversary. Through PLAN Australia’s leading CRM system, Podium, members can lodge and proactively manage client milestones.

Communicating at the right time doesn’t just make the client feel valued but could also save them significant amounts of money in the process through regular reviews.

MPA: Do you have any best practice tips on how brokers can manage these conversations so they don’t sound like sales pitches? AP: Providing expertise and assistance when it’s relevant and timely – and often when the client doesn’t expect it – will ensure this won’t be viewed as a sales pitch. The lending landscape is incredibly dynamic, and we know customers are always seeking help from professionals they trust. Each interaction with a client is an opportunity for a broker to bring their considerable experience to benefit their customers. Helping a client initially will give the broker an understanding of a client’s needs and goals. After all, you are helping a client make what will be one of the most important financial decisions they take, for their family or in conjunction with their business. Regular and ongoing contact with a client will help keep them informed so they are more prepared when they seek help in the future. Providing proactive annual reviews, by way of an example, is a great way to create a great customer outcome by ensuring your clients are across available options. This is particularly important in today’s lending

“Brokers who remain top of clients’ minds beyond settlement are more likely to be recommended to their family and friends” Anja Pannek, PLAN Australia PLAN Australia members are also leveraging the power of social media to connect with clients at every stage of the relationship. Many of our members use Facebook to keep in touch with customers during and after settlement, sharing corporate updates such as new hires, videos, client thank-you gifts and messages, and industry updates.

environment. It may not be the right time for your client to consider a new property; however, regular contact will ensure a broker is front of mind if this happens.

MPA: Why is it so important to keep in touch with clients, and how can this help brokers grow their businesses? AP: With over 55% of mortgages now

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Sponsored by

Although not a new offering, Bankwest’s click-to-chat program continues to be a hit among brokers as it enables them to communicate directly with mortgage support agents about applications, pricing status and other concerns. This commitment to broker technology has proved successful, and many are lauding the bank for its streamlined service. Brokers say the tools save them time, help them locate, track and access information to keep clients informed, and enables them to provide better customer service overall.

can afford to resist them. That said, one is not a replacement for the other. Modern technology and traditional interaction should complement each other and support customers as they take steps to securing a home loan, Rakhit says. “What the growth of the broker market clearly shows, though, is that customers also highly value choice. The growing use of technology is here to help with efficiency, speed and certainty.” As consumer behaviour continues to change, Bankwest will keep investing in the channel and in technology that makes it

“The broker’s skill of convenience, choice and expertise, married with the use of technology, can only enhance the customer experience” Ian Rakhit, Bankwest

The portal allows brokers to see loan account details, such as interest rates, limit, balance, product type, loan purpose and repayment type, which makes it easy for them to review their customers’ existing arrangements and connect with them when a better opportunity presents itself. The bank followed the portal with a Home Loan Pricing Tool that delivers “real-time responses” to mortgage rate requests. It also allows pre-population with relevant customer data, a shortlist of applications, and associated application status updates. Bankwest also launched the Home Loan Application Tracker, a web-based tool designed to keep brokers and customers informed throughout the loan application journey – from the lodging of an application right through to the first repayment. The bank’s most recent release gives brokers the ability to request a free, upfront auto-valuation (AVM) prior to starting a new home loan application.

“With instant pricing results through the broker portal, fast turnaround time for assessment, and exceptional support from the BDMs, we achieved lodgement to settlement in a really short time frame,” one broker said in a testimonial to Bankwest. Traditional service meets the future According to Rakhit, while face-to-face interaction is still valued by many customers, especially those on the verge of making “one of life’s ‘big decisions’”, the opportunities and convenience offered by digital services are undeniable. And neither banks nor brokers

simpler and easier for brokers to service these evolving needs. Developing its digital products is never over. The bank is now piloting the electronic signing of contracts and making the broker website more user-friendly. “We understand the importance that brokers play in creating a competitive industry that allows more choice for customers,” Rakhit says. “Bankwest will continue to transform to meet this challenge, as we’ve done for more than 123 years. As we move forward, we’ll continue to listen closely to our customers and brokers to realise our vision: to deliver amazing customer experiences that matter.”

BANKWEST’S LATEST OFFERING: AUTO-VALUATION Following broker feedback, Bankwest launched a free, upfront auto-valuation tool through its Home Lending Portal in late July. The tool aims to remove some of the uncertainty around one of the key decision factors in the home loan application process. Brokers can now request an auto-valuation prior to starting a new home loan application. “Being able to provide an upfront valuation in this way will help brokers provide a first-rate service to prospective homebuyers and those looking to refinance their existing loan,” said Bankwest’s head of third party banking, Ian Rakhit.

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WINNERS REVEALED The bright lights of Australia’s mortgage broking industry came together for a spectacular awards event. Let’s take a closer look at the winners from this night of nights...

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Event partner

OUTSTANDING performance in any industry should always be recognised. It is fitting, then, that occasions such as the Australian Mortgage Awards are held to celebrate the best and brightest in this field – a grand finale to cap off a year that has seen some incredible highs for the mortgage broking industry. Indeed, the 17th AMAs were a resounding success. With more than 650 industry professionals in attendance, host Lawrence Mooney had guests in the palm of his hand throughout the evening. Similarly, Linden Furnell, along with Furnace and the Fundamentals, had the crowd dancing until well into the small hours of the morning. MPA is intensely proud of all those showcased over the following pages; even to be nominated is an honour in itself. MPA editor Otiena Ellwand congratulated winners and finalists, saying: “This year’s finalists are some of the industry’s best examples of what can be achieved through professionalism, innovation and excellent customer service. They demonstrate that brokers are a force for good, and they will be the ones who lead the way as the industry evolves, adapts and faces future changes.” Without further ado, turn the page to discover who our winners are for 2018. We look forward to seeing great things from them in the future.

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EVENT PARTNER

AUSTRALIAN MORTGAGE AWARDS WINNERS 2O18 MOST EFFECTIVE ONLINE PRESENCE – BROKER WINNER 2018

AUSTRALIAN MORTGAGE AWARDS

Shore Financial

FINALISTS Empower Wealth Mortgage Advisory 1st Street Zippy Financial Group VIP Mortgage Solutions Loan Market – Feedback Finance

SHORE FINANCIAL has a huge focus on improving and optimising its online presence and has put a lot of work into its website and social media platforms over the last year. Combined, these online media now generate, on average, 120 leads per month for brokers. Shore Financial’s online presence is more heavily focused on information and education than general marketing, which has also yielded considerable benefits – after looking through the site, lead yields tend to be warmer and better qualified.

“It’s a beautiful surprise actually, because I’m constantly thinking that we should improve our online presence, so it’s good to be recognised with such a great achievement. Awards like ‘Online Presence’ show diversification. I think that’s great.” THEO CHAMBERS

CEO, Shore Financial Alex Nochar, Shore Financial

Theo Chambers, Shore Financial

MOST EFFECTIVE ONLINE PRESENCE – LENDER WINNER 2018

AUSTRALIAN MORTGAGE AWARDS

Bankwest

FINALISTS Westpac Pepper Money MyState Bank Heartland Seniors Finance St. George Banking Group OnDeck

OVER the past 12 months Bankwest has introduced a suite of new digital tools aimed at making life simpler and easier for its brokers. Through the co-design process, Bankwest identified what was really important to brokers (and equally what was not), as well as test driving everything that was built to ensure it was simple and easy. The result is a range of real-time tools that empower brokers and ensure they can access what they need anywhere, anytime and on any device.

“It was all about helping the broker do the best job for customers – so it’s all about empowering the broker to provide a seamless customer experience that can remove any fear or frustration that the customer might be experiencing. Really just helping the broker do their job as effectively as possible.” JAMES STEWART

Product owner, customer transformation, Bankwest

James Stewart, Bankwest

Blake Buchanan, Specialist Finance Group

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art,

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AUSTRALIAN MORTGAGE AWARDS WINNERS 2O18

EVENT PARTNER

MOST EFFECTIVE ONLINE PRESENCE – AGGREGATOR WINNER 2018

AUSTRALIAN MORTGAGE AWARDS

Vow Financial

FINALIST Finsure

Joseph Trimarchi, Joseph Trimarchi Solicitors & Associates

ONE OF the largest aggregators in Australia, Vow Financial has about 1,250 brokers, a $45bn-plus loan book and a highly experienced and awarded BDM team with a national presence. Vow has a number of referral sources to boost a broker’s bottom line, protect their clients and add multiple income streams to their business. Its products include risk insurance, online conveyancing, wills and estates, SMSF, leasing and equipment finance, wealth creation strategies, retirement planning and more.

“Our broker blog has been going for a couple of years now. It’s very active. Basically, we go back and forth. We give brokers the opportunity to talk about their problems, issues, wins and losses, so it’s a way for us to connect to brokers and our brokers to connect to each other. It’s a really good option.” JAMES HENDERSON BDM, Vow Financial

James Henderson, Vow Financial

BEST INDUSTRY ADVERTISING CAMPAIGN WINNER 2018

AUSTRALIAN MORTGAGE AWARDS

Pepper Money

FINALISTS Bluestone Liberty La Trobe Financial NAB Suncorp

PEPPER is focused on growing its existing position in the home loan market in Australia through the continued provision of award-winning products and services, combined with the use of technology to revolutionise how a broker can attract and convert more customers with less effort. The company’s objective is to deliver unique, engaging content and cutting-edge technology that educates and informs brokers while reducing inefficiencies. Accordingly, Pepper’s website provides tools and information to help grow a broker’s business, supporting their professional development and simplifying the application process so they can focus on their clients rather than administration.

“It feels really good to win the award, especially because there was some really stiff competition tonight. But, at the end of the day it’s all about the sort of campaign that we ran, and it’s all about real stories from real customers, and that’s what I’m most proud of.” JOANNE THRIFT

Joanne Thrift, Pepper Money

Robert Seton, Trail Blazers Finance

Chief marketing ofﬁcer, Pepper Money

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AUSTRALIAN MORTGAGE AWARDS WINNERS 2O18 BEST INDUSTRY SERVICE WINNER 2018

AUSTRALIAN MORTGAGE AWARDS

NextGen.Net

FINALISTS

ESTABLISHED IN 1993, NextGen.Net is one of Australia’s leading technology providers for the mortgage lending industry. Currently, NextGen.Net continues to pioneer state-of-the-art solutions, from loan application through to processing and settlement. Its mission is to provide lenders, aggregators and brokers an easier and more efficient way to deliver for their customers.

Loanworks Technologies

“It’s a splendid honour and a big shout out, thanks to our team who made it all worthwhile. And also to our wonderful, I should say sweetest, partners and customers Without them all, we’d never get this honour.”

Masters Broker Group

TONY CARN

Finsure Broker Academy CoreLogic Simpology

Integrity Education Group Trail Book Loans

Sales director, NextGen.Net The company’s track record of industry firsts and strong relationships has led to 97% of all Australian mortgage brokers and over 50 lenders using its electronic lodgement platform, ApplyOnline®. Cory This award is testament to NextGen.Net’s Bannister, ongoing commitment to providing the best La Trobe technology service in the industry. Financial

Tony Carn, NextGen.Net

BEST CUSTOMER SERVICE FROM AN INDIVIDUAL OFFICE WINNER 2018

AUSTRALIAN MORTGAGE AWARDS

Smartmove Professional Mortgage Advisors

FINALISTS Feedback Finance Yellow Brick Road – Maitland Citadel Capital Solutions Black and White Finance Zippy Financial Group Astute Ability Group Foster Ramsay Finance Australian Finance Hub TM Finance Group VIP Mortgage Solutions Entourage Finance

THE FOCUS on continued improvement of processes and education is critical in today’s marketplace. It ensures customers and business partners receive exceptional service on a consistent basis, no matter which member of the team they interact with. Few companies recognise this like Smartmove. The company’s success has come from building trusting, lifelong relationships with its clients and business partners. It’s been the company’s approach for the 15 years of its existence. In an era when disruption is much discussed, Smartmove maintains that “trusted customer service” continues to be its chosen means of disruption – suggesting perhaps that a focus on the fundamentals can take a business a very long way.

“We won this award two years ago, and our customer service is who we are. Actually, for us it’s the most prized award tonight. So we’re absolutely rapt to the heavens. I’m really excited.” DARREN LITTLE General manager, Smartmove

Nick Young, Trail Homes

Darren Little, Smartmove Simon Orbell, Smartmove

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EVENT PARTNER

DEPOSIT POWER AWARD FOR AGGREGATOR OF THE YEAR (UP TO 500 BROKERS)

2018

AUSTRALIAN MORTGAGE AWARDS

WINNER outsource financial

FINALISTS Liberty Network Services Astute Financial Management

PROUDLY SPONSORED BY

Established in 1989, Deposit Power is Australia’s longest-standing deposit bond provider and has assisted over one million buyers and sellers in the property sale process. Deposit bonds are widely accepted as a means of securing a property purchase and are utilised by first home buyers, upsizers, downsizers and investors alike for auction, off-the-plan or existing home purchases.

AS THIS YEAR’S WINNER, outsource financial retains its focus on education of members and providing them with tools to educate the consumer. With unique business models that can be mixed and matched to suit member needs, and its high-touch support mechanisms, the company has kept recruitment and retention at an exceptional level. New quality controls, including the development and implementation of a pre-assessment team, are also accelerating business growth for new members. With initiatives including lead generation workshops, commercial mentoring, marketing masterclasses and an online scenario enquiry portal, outsource believes its members are supported in building multifaceted businesses that will have longevity in this ever-changing industry.

“For us, it’s about the mentorship. It’s not about the lending. It’s about the technical side as well, and being a business owner. So throughout the year we run numerous workshops that dedicate the content to ensuring that the business side is always up to date.” TANYA SALE CEO, outsource ﬁnancial

For more information, visit depositpower.com.au

Grant Bailey, Deposit Power

Tanya Sale, outsource financial

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AUSTRALIAN MORTGAGE AWARDS WINNERS 2O18 ONDECK AWARD FOR AGGREGATOR OF THE YEAR (> 500 BROKERS)

2018

AUSTRALIAN MORTGAGE AWARDS

WINNER Loan Market Group

FINALISTS Connective Specialist Finance Group PLAN Australia Finsure Finance and Insurance Vow Financial Finance & Systems Technology (FAST) PROUDLY SPONSORED BY

ONDECK, Australia’s specialist online lender to small business, uses data and technology to provide finance solutions, up to $150k, in as fast as one business day. Over the past decade, OnDeck Group has loaned over $8bn to 80,000 small businesses across the United States, Canada and Australia,

LOAN MARKET GROUP describes itself as “the industry’s best-kept secret”. The 2018 financial year has been a significant one for the organisation: aside from the rollout of a multimillion-dollar proprietary CRM system, ‘MyCRM’, Loan Market also increased its settlements by 11% and kept customer satisfaction at an all-time high, with an NPS score of +88. The events of the royal commission also saw Loan Market’s franchisor team and franchisees band together, assessing where improvements could be made, and working hard to improve the business and customer service. Rather than having change forced upon it, Loan Market is leading industry change and always working to achieve the best outcome for its customers.

“I think it’s just an awesome endorsement because some of our people work so hard. This has been a real muscle-up year for us, and I think for the whole industry to have this award recognising what they’ve done is just huge – I’m really so proud of them.” SAM WHITE Executive chairman, Loan Market

For more information, visit ondeck.com.au

Sam White, Loan Market

Michael Burke, OnDeck

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hite, arket

EVENT PARTNER

MAJOR BANK OF THE YEAR WINNER 2018

AUSTRALIAN MORTGAGE AWARDS

Westpac

FINALIST NAB

WESTPAC’S mission is to be one of the world’s great service companies, helping its customers, communities and people to prosper and grow. While it is proud of its history, it also knows that to remain relevant in an increasingly volatile environment the bank needs to embrace change.

“Last year we turned 200 – we’re very proud of our heritage and we’re very proud of our relationship with brokers. So we’re extremely thrilled to be able to take that out again.” MEGHAN MOSS

Senior BDM, Westpac Westpac continues to invest in its people and the networks that support them. In doing this the bank says it delivers best-in-market support to brokers, who ultimately make the dreams of thousands of Australians come true each year. Operating in Australia since 1817, Westpac is proud to have supported its third party distribution channel for more than 30 years. 2018 marks the second year in a row that Westpac has taken out this prestigious award. Warren Shaw, Westpac

Meghan Moss, Westpac

NON-BANK OF THE YEAR WINNER 2018

AUSTRALIAN MORTGAGE AWARDS

Liberty

FINALISTS Mortgage Ezy Pepper Money Heartland Seniors Finance La Trobe Financial Advantedge Financial Services (Advantedge) Newcastle Permanent Building Society Homeloans Ltd

IN 1997, Liberty pioneered custom finance by offering flexible solutions that required

personalised attention not available from other financial institutions. Today, it offers a wide range of home, car and business loans, as well as SMSF lending and insurance products. In short, Liberty describes itself as a free-thinking finance company that offers innovative solutions at competitive prices to support customers with greater choice and freedom. Liberty is the only non-bank lender with an investment-grade credit rating, offering custom and prime solutions for residential and commercial mortgages, motor finance, personal loans and investments. Liberty has proven to be a reliable and dependable provider of free-thinking and customer-friendly financial products and services.

“After 21 years of our investment in the broking network and looking after the people of Australia, it is absolutely delightful to be recognised for what we do for the brokers and the borrowers of Australia.”

John Mohnacheff, Liberty

JOHN MOHNACHEFF

Group sales manager, Liberty Tanya Sale, outsource financial

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AUSTRALIAN MORTGAGE AWARDS WINNERS 2O18 MSA NATIONAL AWARD FOR NON-MAJOR BANK OF THE YEAR

2018

AUSTRALIAN MORTGAGE AWARDS

WINNER Bankwest

FINALISTS ING St. George Banking Group Macquarie Bank ME Bank of Queensland MyState Bank

PROUDLY SPONSORED BY

For over 27 years MSA National has been a champion of brokers. In 2016 it became a market leader with the launch of a suite of digital innovations that are transforming the customer experience and making the documentation and settlement process faster and simpler than ever before. Most of all, MSA is known for its file ownership model that delivers legendary service from a team with humility and genuine empathy for the customer. It is no coincidence that lenders who partner with MSA have happier customers and happier brokers.

AT BANKWEST, the customer’s experiences are at the heart of everything

the company does. Whether your client is a first home buyer, a seasoned property investor, or looking to release the equity in their home, there’s a Bankwest home loan that’s right for them. As a broker, Bankwest is dedicated to you – finding ways to make your job that little bit simpler and frictionless so you can get back to building your reputation, knowing you’re being backed by the bank that’s small enough to care, but big enough to copy. Bankwest is working hard for your hard-earned reputation and the industry.

“Customers choose brokers because of choice, because of expertise, because of convenience. And it’s critical for a bank of our size to be able to allow brokers to distribute our products for us. The experience we give to brokers is essential. They will choose those because of our ability to be on time, to be responsive, and to deliver what their customer needs.” IAN RAKHIT General manager third party, Bankwest

Ian Rakhit, Bankwest

For more information, visit www.msanational.com.au Ayhan Baba, MSA National

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it, st

EVENT PARTNER

BANKWEST AWARD FOR BEST AGGREGATOR BDM

2018

AUSTRALIAN MORTGAGE AWARDS

WINNER Tim Schneider Choice Aggregation

FINALISTS Suzi Trajanovski Loan Market

James Brett Connective

Daniel Kairouz Vow Financial

Noushig Megerditchian Finsure

Nick Green PLAN Australia

Phillip Donaldson Finsure

Kiky Tse Choice Aggregation

THIS YEAR has been an impressive one for Tim Schneider. In addition to winning Best Aggregator BDM, he was also the 2018 Choice Partnership Manager of the Year and 2018’s Number 1 Recruiter for Choice. His focus this year has largely been around risk and compliance, as well as ensuring his brokers are secure, both now and into the future. “I’ve spent a lot time learning and understanding the current industry and regulatory environment, to the point where I would now consider myself an expert,” says Schneider. “I’ve used this knowledge to educate and inform my members on this. Although this has been a challenging year, I feel it has been my most rewarding.”

“Fantastic event, incredible people. Incredible nominees – and I’m just really pleased at being nominated and very pleased to be recognised in front of a number of marquee leaders. So, thank you.” TIM SCHNEIDER Partnership manager, Choice Aggregation

PROUDLY SPONSORED BY

Tim Schneider, Choice Aggregation

BANKWEST congratulates all of the winners and nominees in the 2018 Australian Mortgage Awards and recognises the important part an aggregator’s business development managers play in the broker industry. We value their dedication to brokers in providing coaching, support and facilitating best practice, which helps brokers navigate through the complexities of lender products and policies to ensure customers receive the best possible outcome. For us, strong BDM relationships are integral to the understanding of aggregator areas of focus, enabling us to work together for the betterment of the industry, brokers and customers. For more information, visit www.bankwest.com.au

www.mpamagazine.com.au

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EVENT PARTNER

AUSTRALIAN MORTGAGE AWARDS WINNERS 2O18 BEST MAJOR BANK BDM WINNER 2018

AUSTRALIAN MORTGAGE AWARDS

Donovan Blanch ANZ – Residential

FINALISTS James Shacallis Commonwealth Bank

John Kakakios ANZ – Residential

Tamieka Trott Westpac

Rosa Primerano

AS SOMEONE who’s been working in the industry since 1996, Donovan Blanch is a seasoned veteran. Yet it hasn’t left him beleaguered or embattled by the business; he still loves the people he works with, as well as the challenges and excitement to be found in the day-to-day processes. “Every day brings a new challenge,” says Blanch. “There’s a real enjoyment there.” Blanch frequently works with self-employed people who want to make a difference to their customers – something he is eager to aid with. His role allows him to help them and assist them in purchasing a home, which provides a valuable service to the wider community in the process.

“It’s great. I’ve been coming to these for years and you always put on a good event. Good people. It’s good to see people in the industry.”

National Australia Bank

DONOVAN BLANCH

Blake Hauber

BDM, ANZ – Residential

Westpac

Craig Dunning Westpac

Mike Cameron, PEXA

Donovan Blanch, ANZ

BEST NON-MAJOR BANK BDM WINNER 2018

AUSTRALIAN MORTGAGE AWARDS

Sally Hillman St. George

HIGHLY COMMENDED John Loukadellis Macquarie

FINALISTS Michael Ponchard Bankwest

Andrew Downie MyState Bank

Lauri Kroon

SALLY HILLMAN has had a commendable career in finance. Her tenacity and trusted reputation for exceptional service and effectiveness are evident in both the results she achieves and the long-standing relationships she forms. Achieving 27% year-on-year growth in settlements from Connective brokers – along with winning the Connective Lender BDM of the Year award – is testimony to the passion and drive she brings to the role. Hillman builds mutually beneficial relationships based on trust, consistency and affability to achieve successful outcomes and ultimately business growth. This marks the second year in a row that she has taken home this prestigious award.

“Totally shocked. I did not expect to win for a second year running. So, very honoured, very humbled and very, very proud.” SALLY HILLMAN

Senior BDM, St. George

Sally Hillman, St. George

Robert Tassone ING

Andrew Ford, Heartland Seniors Finance

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ally illman, t. George

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AUSTRALIAN MORTGAGE AWARDS WINNERS 2O18 BEST NON-BANK BDM WINNER 2018

AUSTRALIAN MORTGAGE AWARDS

Andrew Crossley Homeloans

HIGHLY COMMENDED Denya Dean, Bluestone

FINALISTS Rose Portia, Virgin Money Australia Nigel Anthony, Liberty Natalie Pavlovich, Pepper Money Cas Wright, Advantage Reece Hinchy, Bluestone David Wilson, Firstmac Pasquale Caia, Pepper Money Richard Galvin, Advantedge Clinton Sharpe, Mortgage Ezy

FOR THE LAST NINE YEARS, winner Andrew Crossley has been making a name for himself at Homeloans. This year has been a particularly significant one for him, as he broke the record for value of settlements for an individual BDM by 13%, at $216m. Additionally, his year included a number of other high watermarks, including exceeding his personal best dollar figure for monthly settlements on four occasions (with an average 12% increase each time). He surpassed his personal best for settlements and eclipsed his annual target, finishing at 180% of target. Along with his impressive conversion rate and strong advocacy among brokers, he’s been a major contributor to Homeloans’ increase in market share.

“Look, the biggest thanks has to go to my brokers for supporting me and supporting Homeloans. So our settlements team, our customer service team, our packaging team, our credit assessment team and especially my colleagues. We’re a great team at Homeloans.”

Andrew Crossley, Homeloans

ANDREW CROSSLEY

Senior BDM, Homeloans

Therese O’Neill, Alphabroker Mentoring

YOUNG GUN OF THE YEAR – INDEPENDENT WINNER 2018

AUSTRALIAN MORTGAGE AWARDS

Alex Veljancevski Eventus Financial

FINALISTS Graeme Holm, Infinity Group Finance

ALEX VELJANCEVSKI believes that everyone deserves to achieve their hopes and dreams. Through mortgage broking, he has had the pleasure of assisting clients in purchasing their first home, starting a business from the ground up and saving thousands of dollars on their mortgages so they can have more money in their pocket to do the things they have always dreamed of. Everyone deserves to have access to good-quality credit advice, and Veljancevski prides himself on delivering great consumer outcomes.

Peter Vassilis, Black and White Finance

“Such a spectacular event.”

Sandeep Jagtap, Finsource

ALEX VELJANCEVSKI

Christian Stevens, Shore Financial Amanda Liszewski, Award Home Loans Craig Mowbray, Be There Financial Services Jinkai (Ryan) Zhang, Option Finance Australia

Mortgage broker/director, Eventus Financial Louisa Sanghera, Zippy Financial Group

Alex Veljancevski, Eventus Financial

Belinda Caesar, Buyers Choice

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EVENT PARTNER

MFAA AWARD FOR YOUNG GUN OF THE YEAR – FRANCHISE

2018

AUSTRALIAN MORTGAGE AWARDS

WINNER Mick O’Shea Loan Market

FINALISTS Bernard Desmond Feedback Finance

Michael Vasilaras

WHEN IT comes to one of the most important financial decisions in

a client’s life, making the right decision about property finance can be confusing and stressful. The services of a professional when selecting the right loan can not only save a client money but remove the stress and hassle. With almost 20 years of experience in home financing, and access to a panel of 30 different lenders, Mick O’Shea believes in results, and focuses on delivering high-quality outcomes for his clients. He performs the role of a borrower’s advocate, acting on his client’s behalf.

Aussie Home Loans

“It’s been first class. It’s really good to be here. I’m so happy to be a part of it.”

Kapil Virmani

MICK O’SHEA

Clarity Finance

Benjamin Hennessey

Smartline

Mortgage broker, Loan Market

Beau Duggan Nectar Mortgages

James Leotta Aussie Home Loans Balmain

Andrew Mudie Yellow Brick Road

PROUDLY SPONSORED BY

Mike Felton, MFAA Mick O’Shea, Loan Market

The Mortgage and Finance Association of Australia is the peak national industry body for professional finance brokers, lenders, aggregators and service providers. Established in 1982, the MFAA represents over 13,500 members and contributes to a healthy, competitive mortgage and finance industry through advocacy, education and business-building support. For more information, visit www.mfaa.com.au

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AUSTRALIAN MORTGAGE AWARDS WINNERS 2O18 ALI GROUP AWARD FOR BROKER OF THE YEAR – INSURANCE (MORTGAGE PROTECTION & LIFE)

2018

AUSTRALIAN MORTGAGE AWARDS

WINNER Nicholas Kakalis Finance Unlimited

FINALISTS Sarah Thomson Loan Market Geelong

Maxine Farmer Maxon Finance

Leah Busby

HAVING seen first-hand the effects of illness on the ability of a family to

be financially secure, Nicholas Kakalis of Finance Unlimited has made it his goal to ensure that everyone he comes across has adequate income protection in place. “I have been a passionate advocate for mortgage protection, life insurance and income protection for many years now, and feel that everybody who finances a home should be covered, should they not be able to earn an income and pay their mortgage,” says Kakalis. Accordingly, he spends a great deal of time with other brokers, assisting them in this space and ensuring that “as many Australians as possible” have this cover.

Blackfish Finance

Norman Moon ALI Group/Aussie Home Loans

Damien Roylance on behalf of Nick Kakalis, Finance Unlimited

Shareek Mohammed Aussie Home Loans

Darryl Bevan Direct Financial

Gabrielle Moscati, ALI Group

PROUDLY SPONSORED BY

ALI Group’s ongoing support of the AMA Broker of the Year – Insurance award has been an opportunity to shine a light on the brokers who are putting client care and education at the core of what they do. We believe making home and property buyers aware of the risks and their options should be part of every loan discussion. For more information, visit www.aligroup.com.au

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EVENT PARTNER

EQUITY-ONE MORTGAGE FUND AWARD FOR BROKER OF THE YEAR – PRODUCTIVITY

2018

AUSTRALIAN MORTGAGE AWARDS

WINNER Josh Bartlett Loan Market – Bayside

FINALISTS Bernard Desmond Feedback Finance

Jason Guo

Centum Mortgage

Daniel O'Brien

PFS Financial Services

Josh Gilbert

WHEN it comes to his success in the broking field, Josh Bartlett is eager to

credit his team – no man is an island, and due thanks must be extended. By working together, great processes can be developed and support provided as necessary. In turn, clients can be given better service, which in turn leads to more satisfied customers and additional referrals. Settling around 400 loans over the last year, Bartlett feels that productivity is an essential facet of any successful business today. Driven by a deep love of the industry, he plans to continue developing himself and his firm to provide even better service into the future.

“We just love finance – that’s what it’s all about.”

Loan Market

JOSH BARTLETT

Balpreet Bal

Mortgage broker/director, Loan Market – Bayside

Loan Market

Josh Egan

Astute Melbourne City South/Gippsland

Jinkai (Ryan) Zhan

Option Finance Australia

Zhen (Richie) Wang

Option Finance Australia

PROUDLY SPONSORED BY

Tom Danaher, Equity-One Josh Bartlett, Loan Market Bayside

EQUITY-ONE has established itself as a leader in commercial lending by providing fixed rate solutions with flexible repayment options. Equity-One offers a genuine alternative to business borrowers looking for traditional personalised service. For more information, visit www.equity-one.com

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AUSTRALIAN MORTGAGE AWARDS WINNERS 2O18 ANZ AWARD FOR BROKER OF THE YEAR – COMMERCIAL

2018

AUSTRALIAN MORTGAGE AWARDS

WINNER Daniel Green Green Finance Group

FINALISTS Frank Durso Aus Finance Group

Xiaoyang (George) Sha Balanz

Faris Dedic Red Door Financial Group

Chris Krotiris Fundamental Business Finance

DANIEL GREEN, founder and director of Brisbane-based Green Finance Group, is a multi-award-winning commercial finance broker with over 20 years’ banking and finance industry experience. His areas of specialty include pubs, bottle shops, hotels, motels, caravan parks, management rights, childcare centres, and SME business and franchise finance. The past 12 months have seen a massive transition for this business, with a change in aggregator, a refreshed business focus, and an increased lending volume of over 57% in settled loans on the previous year.

“I’ve been trying to win this award for five years now, and I’ve finally got it!” DANIEL GREEN Director, Green Finance

George Giovas Axius Partners

Ryan Baddock RB Finance Qld

Bertie Stanley Stanley Finance

PROUDLY SPONSORED BY

Michael Volkiene, ANZ

Daniel Green, Green Finance Group

ANZ is proud to sponsor the AMA Broker of the Year – Commercial award. This recognises those commercial brokerages that, over the past 12 months, have gone above and beyond to exceed customer and community expectations through the superior service and financial guidance they provide. For more information, visit www.anz.com.au

www.mpamagazine.com.au

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EVENT PARTNER

PEPPER MONEY AWARD FOR BROKER OF THE YEAR – SPECIALIST LENDING

2018

AUSTRALIAN MORTGAGE AWARDS

WINNER Stuart Styles Arthurmac & Co

FINALISTS Daniel O'Brien PFS Financial Services

Margaret Wilcock MW Mortgage and Wealth

Jason Miller Loan Market Picton

Aaron Greffenius

STUART STYLES of Arthurmac & Co is a highly experienced broker,

having spent more than 15 years in the specialist market. Assisted throughout the 2018 financial year by a growing team, and with a new digital platform rollout, Styles believes the future holds the opportunity for the company to have an even greater impact in the non-conforming/specialist market. With the new digital platform currently being unveiled by Arthurmac & Co, Styles is excited about what lies ahead for the organisation. The dual opportunities to move away from paper and create greater productivity are powerful drivers for future success.

“Over the moon!” STUART STYLES Managing director, Arthurmac & Co

Loan Market Picton

Vincent Moore Entourage Finance

Zhuliang Huang Option Finance Australia Stuart Styles, Arthurmac & Co PROUDLY SPONSORED BY

Siobhan Williams, Pepper Money

PEPPER primarily focuses on providing home loans to customers who do not meet the acceptance criteria of banks and other lenders, in particular the self-employed, small businesses owners and borrowers with irregular income, an unsubstantiated savings history or a prior record of minor credit impairment. Pepper offers a genuine financing alternative to prime-quality borrowers who are typically denied access to residential mortgage finance due to restrictive lending criteria. For more information, visit www.pepper.com.au

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AUSTRALIAN MORTGAGE AWARDS WINNERS 2O18

EVENT PARTNER

FBAA AWARD FOR BROKER OF THE YEAR – INDEPENDENT

2018

AUSTRALIAN MORTGAGE AWARDS

WINNER Will Unkles 40 Forty Finance

FINALISTS Daniel O'Brien PFS Financial Services

Mark Davis The Australian Lending & Investment Centre

WILL UNKLES has been on a growth wave of 100% year-on-year since

starting 40 Forty Finance three years ago. With a very clear target market and a huge focus on pre- and post-settlement service, Unkles has grown the business organically through word of mouth and community engagement. The lack of dependence on referral partners allows the business to operate extremely profitably and ensures the work performed is streamlined for similar types of clients. With a higher-than-industry average loan and a high quality of submissions, the business is well positioned for the growth to continue.

Simon Orbell

“I was really happy to be nominated among the company that I was, but I haven’t processed it yet!”

Smartmove

WILL UNKLES

Cathy Brown

Director, 40 Forty Finance

Holly Bundy Bundy Financial Services

Activ8 Finance

Gary Rock Nectar Mortgages

Bertie Stanley Stanley Finance

Will Unkles, 40 Forty Finance

PROUDLY SPONSORED BY

The Finance Brokers Association of Australia Limited (FBAA) – the leading professional association for finance and mortgage brokers nationally – is proud to celebrate its 25th anniversary this year. The FBAA not only insists on the highest levels of professionalism, ethics and standards from its members but is the industry’s association of choice. The FBAA philosophically stands to ensure there is always an option of industry bodies within our sector, and that all brokers have a voice that is undeniably represented and heard.

Peter White, FBAA

For more information, visit www.fbaa.com.au

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AUSTRALIAN MORTGAGE AWARDS WINNERS 2O18 NEXTGEN.NET AWARD FOR NEW BROKERAGE OF THE YEAR

2018

AUSTRALIAN MORTGAGE AWARDS

WINNER Insight Property Finance

HIGHLY COMMENDED Loan Market – Feedback Finance

FINALISTS Loan Market Wyndham

THE STORY OF Insight Property Finance begins in February 2017. Against the advice of many peers who had concerns in light of the ASIC remuneration review, the Sedgwick report and the daily tightening of regulatory and policy requirements, founder Jordan Beh took the plunge into the world of mortgage broking. The risk was tremendous, but he knew it was one he needed to take. “The purpose of my business is to positively impact people’s lives,” says Beh. It’s a simple approach – to demonstrate the value that Insight can add for every new client and referral partner. After a great first year, this award marks a tremendous milestone for the company.

Connected Finance

“First year in business, so it’s pretty cool to win such an honourable award.”

Australian Finance Hub

JORDAN BEH

Atelier Wealth Infinity Group Finance Mortgage and Finance Expert

Aussie-Queanbeyan

Founder, Insight Property Finance

Entourage Finance

PROUDLY SPONSORED BY

NEXTGEN.NET is Australia’s leading technology solution provider to the lending industry, focused on delivering quality products and services to a range of banks, non-bank lenders and brokers. Our objective is to provide smarter solutions for now and what’s next, delivering best-in-class Software as a Service (SaaS) and leading the market in quality management and processing efficiencies.

Tony Carn, NextGen.Net

Jordan Beh, Insight Property Finance

For more information, visit nextgen.net

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EVENT PARTNER

BLUESTONE AWARD FOR BROKERAGE OF THE YEAR – DIVERSIFICATION

2018

AUSTRALIAN MORTGAGE AWARDS

WINNER Bell Partners Finance

FINALISTS Loan Market Geelong Shore Financial TM Finance Group DPN VIP Mortgage Solutions IFA Mortgages & Finance

PROUDLY SPONSORED BY

BELL PARTNERS FINANCE assists its clients in almost every type of

borrowing transaction imaginable. In addition to this award, Bell also recently won the Top Asset Finance writer award at the 2018 Finsure and Loankit Commercial Lending Conference in Hobart. Over the last 12 months, Bell has written consumer/commercial vehicle finance; short-term business loans; invoice finance; trade finance; small business overdrafts/lines of credit; peer-to-peer lending; loans for business purchases; commercial and residential SMSF property finance; construction and development finance; finance for trucks, medical equipment and yellow goods; personal loans and residential loans. In previous years, Bell has also assisted with reverse mortgages and privately funded transactions.

“It’s been a long time coming I think – we’ve been trying to get one of these for a lot of years, so it’s a massive recognition.” MARK STEVENSON Managing director, ﬁnance, Bell Partners Finance

“Strategic diversification is a key driver for building a resilient broking business, especially in today’s turbulent market conditions. At Bluestone, we champion all our brokers’ efforts to diversify and expand their customer base. This award gives us the chance to officially recognise and celebrate a broking business that is leading the way in diversification.” – Royden D’Vaz, head of sales and marketing, Bluestone

Craig Meale, Bluestone

For more information, visit www.bluestone.com.au Mark Stevenson, Bell Partners Finance

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AUSTRALIAN MORTGAGE AWARDS WINNERS 2O18 ANZ AWARD FOR BROKERAGE OF THE YEAR (1–5 STAFF)

2018

AUSTRALIAN MORTGAGE AWARDS

WINNER Loan Market Bayside

FINALISTS Bundy Financial Services Zippy Financial Group Astute Ability Group Activ8 Finance Educated Finance Trevor Ryan (Aussie Home Loans Coolum) Infinity Group Finance InReach Finance

CLIENTS are thirsty for knowledge – they don’t turn to brokers just to

discuss interest rates. Rather, they want to know how a loan product will serve their needs throughout its life cycle and how it can work more effectively for them. Accordingly, Loan Market Bayside devotes significant energy to developing a full understanding of the unique situations of its individual clients. One way Loan Market Bayside does this is by having clients fill out their living expenses on their own first so they can have a more thorough conversation about them once the client comes in for an appointment. It’s all about assessing the situation so brokers can provide their clients with what they’re really asking for: an education.

“One person can’t know everything, but if one person notices something different, they can share that knowledge with the rest of us.” JOSH BARTLETT

PROUDLY SPONSORED BY

Mortgage broker/director, Loan Market – Bayside

ANZ is proud to sponsor the AMA Brokerage of the Year (1–5 Staff) award. This award recognises those broker businesses that, over the past 12 months, have gone above and beyond to exceed customer and community expectations through the superior service and financial guidance they provide. For more information, visit www.anz.com.au

Josh Bartlett, Loan Market Bayside Paul Brick ANZ

Tanya Crawley, Loan Market Bayside

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EVENT PARTNER

ME AWARD FOR BROKERAGE OF THE YEAR (>20 STAFF)

2018

AUSTRALIAN MORTGAGE AWARDS

WINNER Shore Financial

FINALISTS The Australian Lending & Investment Centre Home Loan Experts Home Loan Connexion N1 Loans Oxygen Home Loans

PROUDLY SPONSORED BY

SHORE FINANCIAL was established in February 2013 by two brokers: Theo Chambers and Alex Nochar, who had met previously as top performers at Oxygen Home Loans. In its fifth year, Shore Financial now holds exclusive referral agreements with four of the best real estate agencies in the country, including Richardson and Wrench, Fletchers, Phillips Pantzer Donnelley and, as of September 2018, Starr Partners. Shore now has just under 50 staff and is continuing to grow. The company’s services have expanded from solely residential mortgage broking to commercial, car and asset financing, to an in-house legal service and a financial planning arm, which positions Shore in the market as a brokerage with a holistic financial offering.

“I think tonight’s fantastic. I think these events make you feel really good.” THEO CHAMBERS CEO, Shore Financial

Australians deserve to get the most out of their money. We’re here to help you get more from your savings and pay less on your loans. Owned by industry super funds, our profits stay local with the organisations that look after the retirement savings of everyday Australians. Make the most of ME.

Lauri Kroon, ME, and Shore Financial

For more information, visit www.mebank.com.au

Bartlett, Market de

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EVENT PARTNER

AUSTRALIAN MORTGAGE AWARDS WINNERS 2O18 BROKERAGE OF THE YEAR (6–20 STAFF) WINNER 2018

AUSTRALIAN MORTGAGE AWARDS

ESTABLISHED in 2002 by Howard Cao, Option Finance Australia has grown into

Option Finance Australia

FINALISTS Empower Wealth Mortgage Advisory Entourage Finance Nectar Mortgages – Canberra (ACT) Mortgage Choice Melbourne Loan Market New Farm The Financiers Group Balanz Banking Solutions & Advice

a multi-award-winning company with offices in Sydney and Melbourne. Over the past 16 years, the client base has expanded significantly, across diverse communities and customer backgrounds, thanks to the company’s outstanding customer service and due diligence. This award – among the many others Option Finance Australia has received – is the result of continuous hard work and achievements, marking the company out as a top-tier brokerage firm in Australia.

“I think it’s our dedication to our clients. We always look for the best thing for our clients, and the team has a really free spirit; we all work together for our clients.” ALAN FUNG CEO, Option Group

Alan Fung, Option Finance

Katrina Makhoul, MSA National

AUSTRALIAN BDM OF THE YEAR WINNER 2018

AUSTRALIAN MORTGAGE AWARDS

DONOVAN BLANCH puts his success down to a few key factors – embracing the industry, rolling with the changes, helping people and, perhaps most importantly, doing a good job. Establishing these principles and then executing them in practical terms year after year has led to a reputation for excellence in mortgage broking. Having now spent more than 20 years in the field, Blanch has established himself as a leader in the industry – a talent worthy of this award.

Donovan Blanch ANZ

Claire Tan, MPA

“It’s good people, and everyone’s been so accommodating. It’s a really good vibe.” DONOVAN BLANCH

Donovan Blanch, ANZ

BDM, ANZ – Residential

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AUSTRALIAN MORTGAGE AWARDS WINNERS 2O18

www.mpamagazine.com.au

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EVENT PARTNER

www.mpamagazine.com.au

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AUSTRALIAN MORTGAGE AWARDS WINNERS 2O18

EVENT PARTNER

AUSTRALIAN YOUNG GUN OF THE YEAR

2018

AUSTRALIAN MORTGAGE AWARDS

WINNER Alex Veljancevski Eventus Financial

FOR ALEX VELJANCEVSKI, achieving a positive outcome for a client

is crucial. Prior to Eventus Financial, he worked in the banking industry and held positions at Macquarie Bank, where he was a part of the Wealth Management division. Since his departure from Macquarie, Veljancevski has assisted hundreds of clients in fulfilling their dreams of purchasing their first home, building their property investment portfolio, maximising their wealth and developing a plan to retire comfortably. “I think it’s because we really go above and beyond for our clients. I get very personal about achieving and accepting a result for them,” he says.

“I really try to understand what they are trying to achieve and I get involved in their process, so I think that’s why we produce a great result.” ALEX VELJANCEVSKI Mortgage broker/director, Eventus Financial

Tony Monaco, Westpac

Alex Veljancevski, Eventus Financial

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AUSTRALIAN MORTGAGE AWARDS WINNERS 2O18 LIBERTY FINANCIAL AWARD FOR AUSTRALIAN BROKERAGE OF THE YEAR

2018

AUSTRALIAN MORTGAGE AWARDS

WINNER Option Finance Australia

PROUDLY SPONSORED BY

LIBERTY provides a wide range of loans for your home, car and business, as well as your investments. Liberty can even help those with minimal financial documentation, a chequered credit history or gifted deposit. Our flexible product range includes competitive SMSF loans and flexible commercial insurance. Recognised with numerous industry awards and accolades, Liberty is an alternative that offers innovative solutions at competitive prices to support customers with greater choice and freedom.

AS ONE OF THE fastest-growing mortgage companies in the Greater Sydney area, the focus of Option Finance has always been on providing its customers with the types of services they really need to turn their dreams into reality. In addition to offering clients a variety of different mortgage types, Option prides itself on offering them a truly in-depth approach to their mortgage needs. The company is proud not only of its versatility but also of its commitment to confidentiality and respecting the privacy of its clients.

“It’s amazing. I’m taking this award for my team – they work very hard, and it’s great recognition for them.” ALAN FUNG CEO, Option Group

For more information, visit www.liberty.com.au

Alan Fung, Option Finance John Mohnacheff, Liberty

www.mpamagazine.com.au

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EVENT PARTNER

WESTPAC AWARD FOR AUSTRALIAN BROKER OF THE YEAR

2018

AUSTRALIAN MORTGAGE AWARDS

WINNER Josh Bartlett Loan Market – Bayside

PROUDLY SPONSORED BY

WESTPAC is proud to partner with the 2018 Australian Mortgage Awards. Now in our ninth year supporting these awards, they are a great opportunity to celebrate the outstanding achievements of those in the mortgage broking business. It’s a dynamic time for our industry – we face immense change, new challenges and opportunities, technological disruption, continued regulatory change and changing customer behaviour. This is why coming together at events like these is paramount; it gives us all the opportunity to network, share best practice and celebrate excellence. Westpac is focused on building strong and deep relationships with broker partners and helping customers into their homes in a responsible way. We work hard to constantly innovate and improve our products and services to ensure they meet the diverse and changing needs of all our customers.

AS A BUSY broker with a seven-days-a-week role and big demands on his time, Josh Bartlett is well aware of the juggling act that modern brokers can face in the workplace. “Finance can be very stressful,” he says. “As brokers, we need to understand that, while we do this as a profession, for clients it can be very, very stressful. I like to update a client even when there is nothing to update! Just to check in with them and let them know that everything is tracking the way it should be. I also like to ensure that all communication is through email so that it can all be in writing.” These are the attitudes that have held him in good stead, helping him to secure the Westpac award for Australian Broker of the Year. Congratulations, Josh!

“I’ve been coming since 2014, I think, so tonight’s a great night like no other.” JOSH BARTLETT Mortgage broker/director, Loan Market – Bayside

Sarah Willsallen, Westpac

Josh Bartlett, Loan Market Bayside

www.mpamagazine.com.au

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PEOPLE

CAREER PATH

MASTERING THIRD PARTY It wasn’t until the end of the GFC that Bendigo and Adelaide Bank’s Amanda James began to realise which type of banking she wanted to specialise in

Amanda James kicked off her career as an administration officer in the mortgage help area of Adelaide Bank. “My day largely consisted of filing, sending out default letters, and attending courts to lodge legal documents.”

2002

SUPPORTS A TEAM

2007

MANAGES THOUSANDS As a risk incident manager at Bendigo and Adelaide Bank, James was responsible for leading operational risk events and making sure a quick and satisfactory resolution was proovided. “Events I’ve managed ranged from around a hundred customers to tens of thousands.”

2014

WORKS WITH EXECUTIVE TEAM James joined the bank’s finance business partner team and was promoted to team leader in 2016. Her team provided advice and analysis on business performance to the group’s executive team. Her senior managerial role allowed her to work alongside leaders who were instrumental to her career growth. “This role was an excellent opportunity to learn first-hand how the executive and a high-functioning senior leadership team operate.”

2018 and beyond

IMPROVES THE EXPERIENCE James will continue to focus on improving the partner and customer experience, particularly through the use of better technology without losing sight of what underpins the bank’s value proposition – great personal service combined with an affordable, relevant and fully featured product range. “I’m really excited about the opportunities for Bendigo and Adelaide Bank in third party banking, both directly through brokers and with our wholesale partners.”

2003

@ ?!

LEARNS FROM THE FRONTLINE James worked in the call centre department for three years answering customer queries before becoming a senior consultant in the retention team. She’s glad to have had the experience because it taught her to consider customers in every decision and gave her a detailed understanding of the bank’s products and services. “Working on the frontline gave me a really solid grounding for my future career progression.”

2009

DEVELOPS A PASSION FOR BROKING Moving to the product department at the end of the GFC was an exciting time for James. As product manager, she looked after the pricing, features and documentation of third party products, and provided analysis on portfolio and growth opportunities. Her achievements include the launch of SmartSaver and SmartDoc Plus products, and numerous legislative-driven changes. “I really learned and developed my passion for the third party banking business during this time. I knew from then on that it was an area I wanted to continue my career in.”

2017

CO-LEADS THIRD PARTY As head of third party banking support, James now co-leads the broker business with Darren Kasenhagen, head of third party distribution. They handle operations, onboarding broker support, value proposition, and strategy implementation. Her team is working to further digitise and streamline the bank’s offerings and increase its market presence. “I’m extremely proud of what we’ve been able to achieve as a third party banking business over the last year in both our broker and wholesale channels, with our new business volumes doubling over the last year.”

“Working on the frontline gave me a really solid grounding for my future career progression”

www.mpamagazine.com.au

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PEOPLE

OTHER LIFE

TELL US WHAT YOU GET UP TO Email otiena.ellwand@keymedia.com

Number of years Bordonaro has been living in Warragul

2015

Year Bordonaro started volunteering at the Warragul Farmers Market

3rd Sat

Day when the market is held every month

FRESH FROM THE MARKET Volunteering at the local farmers’ market is the perfect way to give back for passionate foodie and Allbiz Finance Brokers director Kathryn Bordonaro

“Nigella Lawson is a hero of mine, so the opportunity to be an a mateur Nigella as part of a cooking demo is always fun”

ON THE third Saturday of every month, Allbiz Finance Brokers director Kathryn Bordonaro volunteers at the Warragul Farmers Market in Victoria. “I thought it would be a great way to get to know more people and to give some time to our community,” she tells MPA. Starting at 6am, she helps set up the market, which includes installing the portable kitchen area and igniting the fire drums to keep people warm. Sometimes she assists with social media and cooking demos, which puts her skills as a former food safety supervisor to good use. The market is a source of inspiration for Bordonaro. By observing how stallholders present their products, engage in social media and look after each other, she has learned lessons that can be applied to broking as well. When her volunteer work is done, Bordonaro buys ingredients for a big home cook-up. “I enjoy helping out at the market so much; it never feels like hard work,” she says. “On a Saturday afternoon, after the market is over, I always feel better about life in general.”

www.mpamagazine.com.au

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