Now in its eighth year, The Adviser’s Elite Business Writers 2016 celebrates the exceptional achievements of the mortgage industry’s standout performers. Although making the list due to their significant lending volumes, as The Adviser found out, there’s much more to being one of the industry’s elite than meets the eye.
It’s fair to say that the third-party channel continues to go from strength to strength, particularly over the past year. As end of financial year results rolled in from June onwards, it became clear that many lenders are increasingly relying on brokers, crediting them with significant growth in lending volumes. Brokers’ market share is hovering between 50 and 55 per cent and one broker on this year’s list sees it reaching 63 per cent as soon as next year.
This comes as no surprise when looking at the achievements of this year’s Top 50. With a total 505 years of broking experience and industry knowledge under their belts, the top brokers wrote a staggering $5.8 billion worth of residential loans between them in the financial year to 30 June 2016, each writing an average of $115 million.
A total 14,286 mortgages were written this past financial year by this year’s elite — so where is all the action coming from?
A closer look at how the land lies reveals that residential loans continue to dominate, accounting for almost 72 per cent of the total volume of loans written. However, it’s clear that diversification is rapidly becoming the order of the day: other finance (including car loans, leasing and equipment finance, cash flow finance and personal loans) accounted for almost 9.3 per cent of the total volume.
Commercial loans in particular are becoming increasingly popular among brokers, accounting for 8.3 per cent of the total volume.
So what’s the secret to continuously being at the top of your game and writing large volumes? It goes without saying that it’s certainly the by-product of years of hard work, but there’s a lot more that goes into becoming one of the country’s elite.
As one broker on this year’s list highlighted, being at the top of your game is about being creative and thinking laterally when it comes to marketing your own personal brand. Another emphasised that loving what you do, and truly believing in the industry is the key to staying motivated. Others point to the invaluable support of a steadfast and proactive team.
Without further ado, here are the winners. To the best of the best of the mortgage broking industry, congratulations!
Each entrant to this year’s Elite Business Writers either submitted their own application or were nominated to do so. Among other criteria, each submission asked for three core areas that related to each broker’s business over 2014-15. Those areas included the volume of home loans written; the volume of other business written (including commercial loans, leasing and equipment finance, car loans, business loans and personal loans); and the value of total insurances written (including home and contents insurance, mortgage protection insurance and life insurance). Each of the three were weighted equally and each broker’s final ranking was based on the total volumes written for the financial year. The Adviser takes the information provided for the report at face value and believes it to be a true representation of a broker’s business. We also asked each broker to nominate their aggregator or, in the case of a franchisee, their state manger to verify each submission.
Top 10 Elite residential mortgage volumes:
- Mark Davis, The Australian Lending & Investment Centre: $335,973,416
- Justin Doobov, Intelligent Finance: $322,225,177
- Keith Caine, Mortgage Choice Glenelg: $216,942,152
- Wei Hu, Homes Finance and Conveyancing: $178,028,000
- Kevin Agent, The Australian Lending & Investment Centre: $177,627,880
- Josh Bartlett, Financially Healthy Pty Ltd: $166,164,644
- Andrew Mirams, Intuitive Finance: $164,988,544
- Li Zhu, Mortgage Choice Sunnybank: $152,444,131
- George Samios, Madd Loans: $151,714,027
- James Hasselle, Mortgage Choice Miami and Burleigh: $149,000,599
Top 10 for mortgages written:
- Mark Davis, The Australian Lending & Investment Centre: 1097
- Keith Caine, Mortgage Choice Glenelg: 809
- Justin Doobov, Intelligent Finance: 695
- James Hasselle, Mortgage Choice Miami and Burleigh: 632
- Kevin Agent, The Australian Lending & Investment Centre: 530
- Li Zhu, Mortgage Choice Sunnybank: 421
- Colin Mason, SMS Finance: 411
- Deslie Taylor, Mortgage Choice Ormeau: 394
- Matthew Carr, MC Mortgage Solutions: 388
- George Samios, Madd Loans: 346
Top 10 Elite for other business:
- Marshall Condon, Neue Black: $257,548,334
- George Samios, Madd Loans: $79,745,041
- Jason Arnold, Quattro Commercial Property Finance: $75,010,142
- Shirish Bhatia, Mortgage Choice: $49,460,250
- Adrian Lee, Resource Financial Group: $39,790,000
- Justin Doobov, Intelligent Finance: $37,020,700
- Andrew Algie, Addisons Advisory Group: $22,050,000
- Anthony Alabakov, My Mortgage Freedom: $21,000,000
- Chris Foster-Ramsay, Foster Ramsay Finance: $18,300,000
- Ren Wong, n1 loans: $16,660,000
Number on residential lender by volume:
- AFM 2.00% 2.00%
- ANZ 18.00% 18.00%
- ANZ (PREMIUM BROKER PARTNERSHIP) 2.00% 2.00%
- CBA 45.00% 45.00%
- Commonwealth Bank 6.00% 6.00%
- La Trobe Financial 2.00% 2.00%
- Macquarie Bank 2.00% 2.00%
- NAB 10.00% 10.00%
- NAB Broker 3.00% 3.00%
- RESIMAC 2.00% 2.00%
- Westpac 5.00% 5.00%
- St.George Group 1.00% 1.00%
- Skipped 2.00% 2.00%
State and territory comparison
State, number of brokers, total volume per state:
- VIC - 16 - $2,787,567,748.10
- NSW - 18 - $2,733,861,406.00
- WA - 3 - $1,755,549,154.00
- SA - 2 - $410,664,338.00
- QLD - 11 - $364,393,801.00
- TAS - None - None
- NT - None - None
Top 10 Elite insurance writers
- Justin Doobov, Intelligent Finance: $321,700,000
- Josh Bartlett, Financially Healthy Pty Ltd: $180,000,000
- Tony Bice, Finance Made Easy: $132,016,000
- Matthew Carr, MC Mortgage Solutions: $123,165,000
- Rael Bricker, House & Home Loans: $101,000,000
- Tony Fornaro, Fornaro Financial Group: $91,958,420
- Mathew Crossley (James), Coronis Finance: $62,556,000
- Andrew Mirams, Intuitive Finance, $62,221,000
- Mark Davis, The Australian Lending & Investment Centre: $58,800,000
- Marios Rokka, Loan Market, $58,520,000