16th February 2024
Last week was a big week of achievements for the Green Team and I’ve only just had a chance to take it in. We were honoured with four industry awards over a few days, including our appointment to the LMG Chairman’s Club, positioning us in the Top 1% of finance brokerages nationally. Recognising the effort behind $1 billion in approved client funding in 2023, a colleague asked what advice I’d give to finance brokers who want to grow their own business. Here goes:
My speciality has always been commercial lending. I know business. Of course, we need to look after the personal finance needs of our business clients – directors and staff. I can write a home loan, but our home loan specialists do it better.
On the flip, if you are a resi broker and you want to diversify, consider the best use of your time – is it writing the business yourself or referring it out? Does your current business arrangement facilitate the process? If it’s a skill you want to learn over time, go for it but be clear about your limits and get the right people on your side – people who know more than you.
Your aggregator is going to play a big part in your success so make sure your goals are aligned.
Establish the level of support you need from the outset – marketing, recognition, software, mentoring, deal processing, training etc. There are varying models to choose from and an ex-banker turning broker will require a different level of support to someone completely new to broking.
There are various models on offer today so talk to existing brokers for recommendations. Like anything, you need to weigh up value for money and early research is key.
I’m always happy to talk to brokers who are looking to establish or grown their own business. I’ve made all the mistakes, so maybe you can avoid them.
When I started this business in 2010, from a home office, I was a sole trader. My long-term goal was to grow a one-stop finance brokerage that was home to the best and brightest speciality finance brokers in the country.
Today, the GFG team consists of more than 30 award-winning staff and independent brokers across four offices from Brisbane to Cairns. Most of the team are ex-bankers and our combined years in the business, exposure to complex funding scenarios, market conditions and cycles and general credit knowledge would rival that of any major bank these days.
The diversity of knowledge and experience within the team means there’s always someone to ask for help.
I’m honoured that professionals of this calibre represent Green Finance Group and I can’t wait to see what 2024 continues to bring for our team.
With all that in mind, if I was to highlight just one key to broker business growth, it’s surrounding yourself with good people.
#experiencematters #growwithgreen #greenteam #commercialfinance #equipmentfinance #homeloans
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Green Finance Group Pty Ltd ACN 145 035 221 is authorised under LMG Broker Services Pty Ltd ACN 632 405 504 Australian Credit Licence 517192.
"While my extensive industry experience covers all areas of banking, loans and leasing – commercial, equipment and residential – my business finance specialties are the broader hospitality, accommodation and childcare industries."
Commercial Finance, Equipment Finance, Home FinanceFortitude Valley, Brisbane
Australia's leading hospitality, accommodation and childcare finance specialist and winner of Australian Broker of the Year 2022.
Prior to establishing GFG in 2010, I occupied senior management roles in some of Australia's leading financial institutions including Commonwealth Bank of Australia, Suncorp, Bankwest and Westpac.
