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Brokerage to launch mentoring program

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Reporter 3 minute read

A Queensland-based mortgage brokerage has revealed that it will be launching a new mentoring program for new brokers in a bid to help them with the “real-world” issues of running a business.

Home Loan Connexion’s national business coach, Jason Bridgett, is currently developing a mentoring program that will be available to mortgage and finance brokers with less than two years’ experience.

Mr Bridgett told The Adviser: “I’ve been in the industry [for] 30 years, and I’ve run financial planning and broking businesses myself. I know what that requires and what ASIC require[s] from us, and I’ve undergone workplace training and assessment qualification, which has really helped me work on adult learning principles, and written Cert IV and diplomas myself previously, too.

“So, I’ve trained lots of people and had lots of training myself, so we really know what brokers need to have a best-practice business and what they need to do to hunt clients. It’s not rocket salad, as I like to say; it’s less complex than that.”

The mentoring course will have 10 core subjects that require completion, which will be supplemented by support, guidance and online group discussions.

According to Mr Bridgett, the program will help brokers develop a business plan; make the most of aggregator software; understand who their potential sources for leads are; create a marketing plan; establish a fact-finding tool; and manage finances, risk and compliance, among other areas.

Speaking to The Adviser, Mr Bridgett said: “We have written with a workbook for brokers to keep, but we also get them into a classroom to work through the modules because we find that working on groups opens up better conversations than one on one. Then, they go [their] way and have a workbook to do and exercises to complete to demonstrate that they are competent in that area.”

He added: “We know what it takes to be a successful brokerage — we have been doing it for a long time and have two directors who are active loan writers doing good volumes. So, we have these people who are still brokering that provide us with a deeper understanding of what it takes.

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“The market changes really quickly, so one of the challenges is currency of knowledge. But we have two directors here who provide that. But we didn’t want to rehash the Cert IV/diploma; people have already done that and are competent. What is missing is the real-world stuff, so what we are trying to do is fill the need for that gap.”

Home Loan Connexion has said that it aims to finalise the program by the end of the year and offer it “early next year”.

While it will be open to Home Loan Connexion brokers first, the intention is for the program to be open nationally.

“We’re not going to differentiate between the mentees we take on. We’d like people to work with the Home Loan Connexion business, but we would like to offer this program to people from other businesses, too.”

Home Loan Connexion director and Principal of the Year Tracy Kearey, who recently spoke to The Adviser about the program and the company’s mental health program for the Elite Broker podcast, commented: “Fortunately for me, I have a lot of brokers in my group who I work with and talk to on a daily occurrence, but I also speak to brokers, both male and female, that I mentor, in a way. I’m available to them if they need any assistance because I know it can mean a lot to know you are not alone. In this industry and in this career, it makes a difference having someone to give you comfort in what you’re doing."

[Related: Tracy Kearey on mentoring, mental health and management]

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