New broker

Hi all,

Just wanted to introduce myself, I have been an avid follower of this forum for 6-7 years and Rolf, Aaron-c, tobe, Jamie M, Mick C, Ausprop, Pt bear and several others have taught me a massive amount regarding whats possible and feasible from a structure and lender perspective, Thank you to Brady for also showing me my previous role in a bank is not all bad with some very knowledgeable bank staff still about. I spent 12 years with a major as a lender, and can't complain about the opportunities this presented me. However not being able to always provide the best solution always frustrated me and I had the amazing opportunity to become a salaried employee of a broker recently.

My position is probably the exception with a base salary higher than the banks however what I have quickly seen and already really knew was this is nearly always the best outcome for the client through a broker. I really do believe that I can now focus on the client and not the 10 buckets the bank wanted me to fill as part of my KPI's. This really had no bearing of the best interest of the client at any point.

I am happy to now call myself a MFAA Credit adviser and can only advocate for people to see whats out their from a lending perspective

MatC :D
 
Hi MatC, great that you've made the move.

I gotta ask though, why did you decide to work for someone else?

Starting your own mortgage broking business has plenty of challenges at first, but the long term rewards are substantial. Working for someone else is certainly easier at first, but long term you're still building your bosses business, not your own.
 
Good Question PT Bear

Mainly financial being married with 2 kids and the sole income earner with some rather large mortgage commitments made it too scary.... Also I had done some deals with my current employer with my old employer and really liked their culture and ethos and the type of clients they had.

However in may also be good for a year or two to get my confidence up and then look at going out on my own.
 
Welcome. I am in the same boat regarding being an employee. I should have made the jump to self employed many times, however at each point I have always decided to buy another investment property instead.
 
Welcome Mat!!

Hopefully you can share your knowledge and help fellow SS with some questions along the way :)

Best of luck with the new role ;)

Cheers
 
Best of luck in the new role! emjoy the dark side ;)

Depends how you look at it Brady... had an interesting conversation with an old work mate today lending targets up 10% and NPS gate opener up 25% in the middle of the financial year, yet pay rises capped at 2%. not sure where the dark side is !
 
Brady are you actually implying that the broker channel is the Galactic Empire and that the CBA (and other big 4 lenders) are the Rebellion? :D

Perhaps you're not seeing so well through that white helmet...
 
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