A NAB general manager and the CEO of an aggregator have highlighted the importance of cultural development in a broking business in order to “clearly show” that the needs of customers are being met.
Speaking at the FAST 2018 Business Excellence Conference, CEO Brendan Wright encouraged brokers to take proactive steps towards creating a sustainable business culture to ensure that they better understand the needs of their clients.
“Being able to clearly show that you know your clients and fully understand their financial situation, objectives and needs is crucial,” Mr Wright said.
“Brokers who can clearly demonstrate they are putting client needs first, and make that their sole purpose, will give their business an edge and a differentiation now and into the future.”
The CEO of the NAB-owned aggregator added that there is an opportunity for brokers to appeal to a broader client base by offering a unique service through their business culture.
“When you are leading or managing the business quite often, you feel like you have to come up with all the answers,” the CEO said.
“Creating a culture that enables different thinking, knowledge and capability across the team can really help your business to differentiate and stand out in a service-led industry.”
Also speaking at the conference was NAB general manager for performance and operations Nicole Devine, who noted that brokers should ensure that they can clearly demonstrate that they have a “customer-centric culture”.
“When thinking about culture, you have to be proactive about how you want it to look and how you are going to build it,” Ms Devine said.
“Most brokers would say they have a customer-centric culture — but how do you show it? And how often do you think about it? This is where compliance frameworks and asking the right questions to fully understand a client’s situation come in to play.”
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