My Business

Starting out

My Biz speaks to trainee adviser Lillian Nguyen from Finax Home Loans about her journey from Air New Zealand to the adviser market.

BY MIRIAM BELL

Tell us about your background before moving into mortgage advice.

I’ve always been good with numbers, so I was always interested in working with them. I did a degree in accounting and international business at university and, after that, I went into banking, joining ASB as a customer service officer in 2013.

In my time at ASB, I worked my way up to being a business relationship manager and managing a portfolio of clients. That role enhanced my lending skills as I was dealing with more complex structures, and assessing business lending as well as home lending.

After five years at the bank, I decided I wanted to travel and see the world. Being a flight attendant was a high school dream so it seemed a good idea to give it a go. In early 2018, I left to work as international cabin crew for Air NZ.

I did that for two years but I remained in touch with my banking contacts and kept up my knowledge of mortgages and finance.

How did you end up getting into the mortgage advice business?

Last year, I lost my Air NZ role due to Covid-19 and had to start looking for a new job. When I was at ASB, I loved helping customers buy houses. It’s just so exciting to enable people to achieve that goal of purchasing their own home.

So I started looking for a job in an area related to my banking background and ended up applying for a job at Finax Home Loans. It all happened very quickly and at just the right time. I actually ended up starting work during the second (level three) lockdown.

I’ve always had a passion for lending and mortgages. This opportunity has allowed me to go into an area of work that I enjoy, and pursue that passion.

And how are you going with learning the business?

While I was away from the financial industry for two years, as soon as I started here it felt like I'd never left. The Finax team has been helpful and welcoming, and I’ve learnt a lot from the company founder, Lucia Xiao’s, knowledge and experience.

My banking experience has been useful – even though there are big differences between this line of work and working for a bank. Mortgage advisers can offer a greater range of solutions to their clients, but, in order to do so, they must know and understand a far greater range of lending policies and criteria.

Currently, I’m putting loan applications together for clients, not giving them advice. But I’m in the process of getting accredited with the banks. Then I’ll continue working towards getting level five certification to be an adviser. My goal is to complete the level five process within seven to eight months.

What makes you passionate about becoming an adviser?

While I am not yet an adviser, and I’m just starting out on the road to become one, I am looking forward to being one. That’s because I’ll be able to share my knowledge with clients to help them achieve their financial goals and, in turn, that allows them to focus on their other goals and to enjoy life more.

For me, that is what is exciting about becoming an adviser: being able to work for clients, with their best interests at heart, to provide them with different solutions that serve them well, and which help them to really maximise their financial potential.

Is there any particular area that you would like to specialise in?

I hope to focus on first home buyers and investors. With first home buyers, it’s an exciting journey: achieving that milestone of buying their first home. But it’s also a daunting journey as not everyone has the experience or access to the support they need. I want to play a part in this journey, providing as much support as possible along the way.

With investors, it’s about helping them to grow their portfolio and working with them to achieve the financial freedom to do other things in their lives. To help them improve their lifestyle rather than simply working to create income or cash flow.

Do you make use of social media and/or new technology in your work?

Yes, at Finax we make use of social media and technology. In particular, we use LinkedIn and Facebook.

What has been the high point of your time in the business? And the low point?

So far, the high point for me has been being able to walk back into the financial industry. I am grateful for the opportunity that Lucia has given me as well as her support for me to settle back in.

But the low point would be that – despite my banking background – I lack in adviser experience.

However, with the support I’m receiving, I’m confident that I’ll learn and develop the necessary skill and experience.

Do you have a mentor? If not, has anyone been a great inspiration to you?

I didn’t have a mentor before joining the company. Since I joined Finax, Lucia has become my mentor. She motivates and inspires me to focus more on my own financial goals and makes me believe that I am capable of doing so much more.

Is there a typical working day for you?

It turns out that no two days are the same in this industry! That’s because every day I meet different clients, and work towards understanding their unique background and goals. Creating a strategy for each individual client means the work never follows a set pattern.

What challenges for the industry do you see ahead?

Banks are getting stricter with their lending guidelines and restrictions so that’s a challenge. But, despite that, I believe there will always be a solution for our clients.

Looking ahead, what are your goals for the future?

My first goal is to become a registered financial adviser. Then my goals are all about working to effectively advise my clients to improve their knowledge and options and help them to achieve their financial goals.

Also, I want to grow with the company so that we can reach more people.

Finally, do you have any tips for others just starting out in the industry?

If you don’t have any knowledge in relation to this sector already, I think it would be pretty challenging!

But, generally, build up your knowledge. Get some education in how the banks work and how the industry works. Study hard so that everything makes sense.

Also, I think it’s important to learn to think outside of the box in order to offer the best range of solutions to your clients. ✚

• From

I’m from Vietnam originally.

• Family

I currently live with my mum, my brother and my sister.

• Out of work interests

Fitness, hiking/trail walking, outdoors.

• Film/TV show

Action, Stranger Things, Lucifer.

• Favourite book

The Lovely Bones, Jack Reacher series – One Shot.

• Favourite music

RnB.

• Motto

When one door closes, another one opens.