Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Chinese-Australian brokerage approaches $1 billion in settlements

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Chinese-Australian brokerage approaches $1 billion in settlements

money increase  x money increase  x
James Mitchell 4 minute read

A Sydney brokerage settled over $879 million in residential mortgage settlements in 2015 following the launch of its award-winning trainee program for young brokers.

Alliance Mortgage Solutions (AMS) is starting 2016 – the Year of the Monkey – on a high note with three of its new-to-industry brokers in the running for the Best Newcomer award at The Adviser’s Better Business Awards in Sydney next week.

AMS managing director Cissy Fang said that one contributing factor in the 29 per cent settlement increase over 2015 was the ‘fire power’ brought into the business from the Young Broker Traineeship program.

“The award-winning education and training program we implemented several years ago has propelled our business forward this year with our team of brokers becoming some of the most talented in the market,” Ms Fang said.

“We love bringing new blood into the industry. We think it’s good for us and good for the profession.

Advertisement
Advertisement

"Our brokers haven’t been taught how to operate first by the banks so we have a real chance to develop them into the way we want and teach them our business culture before they learn bad habits,” she said.

The proof of the program’s success is the string of successful young brokers AMS has trained up that are hitting new milestones in their careers. Three of the new-to-industry brokers (Zakk Dong, Raymond Li and Aaron Sun) that joined their Young Broker Traineeship in 2013, are all finalists for Best Newcomer at The Adviser’s Better Business Awards this year.

Ms Fang said that the new trainee program is very comprehensive and includes:

· a 70-hour traineeship by an experienced and qualified MFAA mentor and Vow Financial mentor
· application support on accreditations
· aptitude test
· introduction to BDM and credit training
· training on customer service, time management and leads management
· opportunities to attend internal, external, credit manager training
· assigned to senior team leader for further development.

“Most importantly, we don’t simply stop at the end of the trainee program. We invest heavily in all our consultants and continue to provide education and training support,” she said.

“We believe this strategy and investment is paying off. Our consultants are motivated, growing and learning quickly. We are moulding them into our DNA before they can pick up bad habits and the business is reaping the benefits. We are very proud of our hardworking staff and the success we’ve achieved.”

Ms Fang said the brokerage’s win for Best Training and Education Program at the Australian Broking Awards last year kick-started even more interest from young professionals wanting to join the group, which is planning to recruit more new-to-industry brokers this year.

“We are looking forward to a bigger and better year for AMS and are looking at how we can continue to take the business to new heights. I think the Year of the Monkey will be our lucky year,” she said.

Ms Fang said with the business founders have been setting themselves some new goals and focus areas for the New Year.

“We have nailed residential loans. And though this will continue to be a big strength for AMS we want to diversify and expand quickly this year,” she said, adding that the group sees many commercial opportunities available with its existing clients.

AMS will work with its aggregation partner Vow Commercial & Vow Leading to include more services like insurance, Ms Fang said.

Vow Financial CEO Tim Brown said that he was very proud of what AMS has achieved over the past year.

“AMS is an important member of the Vow family and we have been working closely with them to see their business take off,” Mr Brown said.

“Under the leadership of Cissy and her business partners, they are training up a group of exceptional brokers that are leading the way for young industry entrants.

“AMS have achieved everything they set their mind to. It’s a true partnership between us and we look forward to helping them diversify and innovate in the Year of the Monkey.”

[Related: Better Business Finalists 2016 revealed]

Chinese-Australian brokerage approaches $1 billion in settlements
money increase  x
TheAdviser logo
money increase  x
James Mitchell

James Mitchell

James Mitchell has over eight years’ experience as a financial reporter and is the editor of Wealth and Wellness at Momentum Media.

He has a sound pedigree to cover the business of mortgages and the converging financial services sector having reported for leading finance titles InvestorDaily, InvestorWeekly, Accountants Daily, ifa, Mortgage Business, Residential Property Manager, Real Estate Business, SMSF Adviser, Smart Property Investment, and The Adviser.

He has also been published in The Daily Telegraph and contributed online to FST Media and Mergermarket, part of the Financial Times Group.

James holds a BA (Hons) in English Literature and an MA in Journalism.

 

FROM THE WEB
more from the adviser
Analysis uncovers ‘surprising’ spike in high-LVR lending

The share of new loans approved with an LVR greater than 80 per c...

Banks charged $1.17bn in home loan fees

More than a quarter of the $4.19 billion dollars of bank fees cha...

P2P lender drops car loan rates

Peer-to-peer lender RateSetter has announced that it has dropped ...