A VB drum for a fridge. $10,000 a month was the goal. Three mates who had no idea they were building something that would span five states, 35 staff, and over a decade of industry-leading repeat business.
In this episode of Broker Bulletin, Tom Caesar sits down with Angus Askew, Will Overman and Andrew Dodwell — the co-founders of Magnolia Lane, to unpack what it really takes to build a culture-first, relationship-driven asset finance brokerage from scratch, and sustain it for 12 years.
Honest, funny, and full of practical gold for any broker or business owner who wants to grow without losing what matters.
In this episode, you'll hear:
- Why 83% of Magnolia Lane's business is repeat clients — and the dead-simple follow-up habit behind it
- The moment they knew they had to get off the tools (and why it took longer than expected)
- What every mortgage broker gets wrong about asset finance referrals
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Time stamps:
00:27 — Tom introduces the Magnolia Lane co-founders: Angus Askew, Will Overman and Andrew Dodwell
02:05 — How all three landed in asset finance (from brickies labourer to greenkeeper to fruit logistics engineer)
06:25 — The origin of the Magnolia Lane name and why they give every client a magnolia tree to plant
09:15 — Starting in a 19-square-metre garage with a VB drum fridge and a goal of $10k a month each
14:02 — The hardest transition: getting off the tools and learning to lead rather than write
18:14 — How the LMG Asset Finance Exchange changed their business and what makes a great mortgage broker referral partner
23:08 — The post-settlement follow-up that keeps clients sticky and unlocks asset finance opportunities
26:01 — M&A, succession planning and why asset finance businesses need to start preparing years earlier than they think
30:33 — What the Magnolia Lane team is seeing across the market right now and their honest take on AI
39:28 — The hardest but best lessons from 12 years in business
49:15 — One piece of advice each for young business owners: make a decision, back yourself, have a crack
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