By James McCracken interviews today's most inspiring and successful advisers & entrepreneurs 5 days a week with inspiration from leading advisers including Pat Flynn , Tim Ferriss, Seth Godin & Tony Robbins
The podcast currently has 168 episodes available.
With a penchant for speaking the truth, there’s a reason Jamie Holroyd has built a trusted reputation as an advisor and confidant to his clients.
This would have to be the most candid interview I have done in terms of a guest speaking freely about the constraints or challenges that impede their ability to deliver the service, results and experience that clients have come to expect from the 3rd party channel.
As a broker, when you listen to this interview, I have no doubt you will resonate with Jamie’s concerns and frustrations.
It is important to recognise and appreciate the depth of experience Jamie brings to this interview courtesy of an expedited career in banking where he assumed significant responsibilities at a young age before choosing to back himself in and pursue his own endeavour.
When you hear Jamie speak, you won’t be surprised as to why his firm is both successful and sought out by a variety of clients who seek guidance for business strategy, debt structuring and growth decisions.
I hope you enjoy this interview as much as I did having Jamie Holroyd as a guest.
If you would like to reach out to Jamie, the best place to start would by his company website.
Unlike most of our guests, Andrew Stevens is a well known and respected supplier to the industry rather than a broker from within the industry.
Andrew has established Online Broker Think Tank, which is both a broker-specific Facebook group as well as a brand that’s become synonymous with providing value and insights to brokers.
By way of prior experience, Andrew did write loans many years ago, and moreover has a wide range of life experiences that hold him in great stead to provide guidance, support and assistance to other brokers who are looking to run a more profitable, rewarding, and impactful broking practice.
In our conversation we discuss some of the beliefs, behaviours and qualities that are more regularly exhibited by higher performing brokers and provide some strategic and tactical insights for you to take and apply in your breaking practice.
Originally, this podcast was recorded on zoom as a live interview with several dozen guests in attendance, and for that reason, the structure sounds a little different to what you’re accustomed.
All the same, I hope you find it either insightful, educational or inspiring.
When you’ve assessed and approved over a billion dollars in lending within the banks, it is more than just a good apprenticeship to set you up for a life in broking, it’s the foundations to a rewarding career.
In this interview with Charles Zerafa, he takes up through a career assessing commercial transactions before making the switch to broking and becoming the trusted advisor to a portfolio of high quality clients who lean on his expertise to help them fund their and facilitate their business growth objectives.
Charles outlines how the benefits of being a broker enable him to offer a level of depth and value to his clients in terms of how he could represent and facilitate their funding needs.
And, like many a good broker, he talks about how his service has earned him introduction to the personal networks of clients that never availed themselves whilst he was in commercial banking.
If you would like to connect or chat with Charles, a great place to start would be his LinkedIn profile.
It’s seldom you come across a person who has started a movement, though that’s exactly what Philip Robison has done.
As the the founder of Saving Brothers and a property professional, Philip is driven by the desire to impact people for the better.
Not just in their hip pocket, but equally if not more so to look after one’s health and wellbeing - and with the scars and war stories he’s gathered, Philip is empathetic, compassionate and insightful.
In our interview, we talk about the highs and lows of his journey, his love for regional property and how people can live their best life.
If you’d like to reach Philip, send him at email to [email protected]
As we all know, time is arguably the most precious commodity for every mortgage broker.
In this podcast with gun loan administrator turned business owner, Mandy Love, we look at the importance of having the right people in the right seats to help deliver an efficient, referable and repeatable service to grow a broking practice.
Having personally seen Mandy make a significant contribution to the growth of one of our broking clients, she is all too familiar with how to help brokers ensure their focus is on income producing activities that contribute to their financial and quality of life goals and getting everything else off their plate.
It's with this mantra in mind Mandy mustered the courage to pursue her dream of opening a loan processing service so she can positively impact more brokers and see them grow their practice by delivering better and quicker client outcomes.
Mandy discusses common challenges inherent with many brokers and how to address them to actually enjoy the success and prosperity they are working hard for.
If you’d like to reach out to Mandy, visit Mandy’s LinkedIn profile or go to:
Website: landmarkloansupport.com.au
Email: [email protected]
From police officer to high performing mortgage broker mortgage, Travis Carruthers is on a mission to impact more brokers, consumers and staff for the better. Most brokers who settle in excess of $100M per annum are usually looking to grow either their back end to pump through more volumes, or build out the broking team so they can grow with and through others. For Travis, it’s a combination of both, in addition to running a sub aggregation group and providing a consulting service where he implements a version of his own processes into other broking practices. With a passion for seeing people do better, Travis aims to provide exemplary client service standards and cultivate a team in culture where his staff are expected to come up with ideas and innovations that contribute towards the ongoing growth and optimization of the business. Arguably not an easy thing to do, which is perhaps the exact reason why Travis is doing it because as he says he gets bored staying in his comfort zone and wants to be comfortable with remaining uncomfortable. If you’d like to connect with Travis, you can reach him: · Via Travis’ LinkedIn profile · Through VMBS, his mortgage broking service, or; · VTEK Solutions, his consultancy service for brokers
Many brokers spend a lot of energy and money on new client acquisition. The idea behind this mentality is simple: You can grow your mortgage broking practice faster if you have more clients.
However, some brokers deprioritise how to retain their current clients.
Why?
Partly because ‘new money’ is more appealing than existing money. A new client expects a quick response. An existing client might patiently wait for weeks or longer for the broker to come back to them.
It’s not ideal, but sometimes, when you’ve got conflicting priorities and limited resources, you’ve got to pick your battles, right?
Equally, if you believe your book will experience run-off, there’s a constant focus on replenishing what’s being lost at the other end.
This mentality can get exhausting and limit your practice’s growth.
Having a clearly defined client-retention strategy can minimise run-off and support your goal of growing your book & your trail income.
So, it pays to take a closer look at your churn rate and figure out how to reduce it.
To find ways to get this done, I had a chat with Adam Grocke. Adam is the CEO of Sherlok, an online platform that helps businesses retain more clients. And in this article, I’ll share with you the insights he has when it comes to retaining more clients.
Let’s kick things off by addressing the elephant in the room.
Why Do Mortgage Brokers Lose Clients?Several years ago, Adam discovered that the larger his book became, the loans that had been on his book longer had a higher propensity to churn. He investigated the matter and he found two major reasons why this was happening.
Based on his personal experience, client care programs such as birthday cards, anniversary messages, etc, were no longer effective in retaining clients. They weren’t as potent as they used to be.
And the primary catalyst for churn was that after several years, some clients become dissatisfied with a lack of ongoing service and felt they could get a better rate but wouldn’t necessarily return to the same broker.
As they say, out of sight, out of mind.So, they start researching their options, invariably ask a friend or family member for a recommendation to a broker, and once they refinance, the loan drops off the original broker’s book. And just like that, they’re gone.
Retain Clients With Structure & StrategyFor Adam, client retention starts with being proactive. This means retaining and growing your book (and asset value) by having a plan.
For full disclosure, Adam is the founder of Sherlok, which is a broker-specific software solution designed to help brokers proactively support clients in terms of repricing and retention. I recently interviewed Adam as a guest on our podcast, which you can check out here.
In the meantime, I’m going go to suggest some structural and strategic actions you can take to support your clients ongoing.
The benefit being that instead of being reactive, constantly putting out fires or doing ‘unplanned maintenance’, the idea being that you have a more collaborative & predictable relationship with clients ongoing.
We know that over the next 3 years, $500 billion worth of home loans will be expiring from the ultra-low fixed rates - which presents both a risk and an opportunity.
The more structure you introduce into your service deliver - from the initial consultation to the ongoing relationship, the easier it will be for clients to return to you, to remark about your service and invariable, earn more referrals.
It’s Time to Stop Losing ClientsVirtually all brokers invest effort into attracting new clients into their practice. That’s because getting new clients brings an upfront and grows the trail.
When combined with a clear, purposeful and effective retention strategy, you will invariably see your book grow and increase your asset value in the process.
Having interviewed over 160 podcast guests and had extraordinary conversations with many incredible people, it’s a big call to say this is the most important podcast I’ve done, particularly since it has nothing to do with broking.
It does however have everything to do with how and why we perform and function in the world the way we do through our unconscious biases.
It was spurred on by some friends of mine, females, who have had vastly different experiences of people whom I’d refer to as ‘good blokes’.
And knowing my friends were having these experiences, the more important I felt it was to unveil why we, like people, have unconscious biases that influence our behaviours, decisions and actions.
On occasions, these biases contribute to our growth and well-being, and at times, can dimmish our capacity to be the best version of ourselves.
To help piece things together and provide some perspective around this, I asked a friend of mine and one of Australia’s leading authorities on unconscious bias, Wendy Lundgaard to share her knowledge and insights.
I’ll be the first to raise my hand and there’s still a long way journey ahead of me in terms of building more awareness around my biases, and I hope this conversation provides you with further insights to assist you in your professional and personal well-being.
Operating a broking practice can be challenging, especially if you’re just starting out. It’s even more so if you used to work as an employee in one. Transitioning from employee to owner can be tricky… but not impossible.
Keith Caine joins me for this episode of The Successful Adviser. He moved from England after the 2008 recession to build a life in Australia. He joined Mortgage Choice and worked his way up. But today, he runs the firm.
Keith shares his story of how he started from scratch and went on to become one of the top brokers in Australia. It’s an inspiring journey with lots of insights for all mortgage brokers.
The key questions:
What you’ll discover:
The sole operator mentality can only take mortgage brokers so far. At some point, brokers will need to delegate key responsibilities to their team members. This will allow them to focus on the strategic and operational decisions and actions that keep their broking practices moving forward.
Marissa Schulze, the director of Rise High Financial Solutions, joins me for this episode of The Successful Adviser. She and I discuss common growing pains and how she grew from a practice of one to a thriving practice of more than 30 team members. Tune in to discover how to maintain a cohesive working culture and how to maintain a great client experience as your practice expands.
The Key Questions:
What You’ll Discover:
The podcast currently has 168 episodes available.