Why this broker values strong accountant relationships

For Mr Kelly, who recently won the Australian Broking Awards’ Broker of the Year and Finance Broker of the Year awards for 2020, the top priority is to gain the trust of his clients when submitting their applications to a lender.

“My accountants that I work with, a number of accounting referring partners have acknowledged that they understand that you have to earn their [clients’] respect and you have to earn their trust,” Mr Kelly told The Adviser’s Elite Broker podcast.

“I’ve done the hard yards with the accounting referring partners, but I have to go hard early with the actual clients themselves and get them on board.”

Mr Kelly also prioritised building relationships and referral partnerships with accountants over many decades, which has led to long-lasting and fruitful partnerships with accounting firms.

“Of my five accounting practices, all of them have been with me for longer than 15 years. One of them in particular has been with me since 1992,” he said.

Mr Kelly said he built relationships with accountants when he worked in some of the major banks before he began his career as a broker.

“I actually knocked on their door and went to them when I was with a major bank. I said, look, this is what I want to do for you, I want to be able to help you,” he said.

“The accountants that work with me have gone through a number of changes within their own businesses and have split away, started new practices. I accept that there’s always going to be change in accounting firms. My businesses remain quite stable.

“They appreciate that in me and that I am there as I have been for a long time, and not just simply as a broker. I was there with them as a banker.”

Before establishing Anasta Finance Consulting in 2006, Mr Kelly worked as a manager at ANZ and at St. George Corporate. His brokerage offers a diverse range of services, including residential, investment, SMSF and commercial loans, as well as refinance and equipment finance.

The importance of the phone conversation

When the accountant refers on a new business or a new relationship, the broker must pick up the phone and begin with a phone conversation where they take the time to understand what the accountant wants, how they want it, and where they would like to go, according to Mr Kelly.

“A lot of people sometimes seem to be as though they’re afraid of actually talking to people. I’m not and I’m not afraid to meet people either,” Mr Kelly said.

The broker should then follow this up with a meeting where they could provide the accountant with a list of their expectations and clarity around the discussion points.

“The accountants like the fact that they are involved all the way through,” Mr Kelly said.

“Something that I would say when it comes to accountants and how you connect with their clients is: they are always the accountants’ clients. They are never yours.

“So, when it comes to correspondence, the accountants are included in every single correspondence email and request for data because they need to know that I’m working with them. The accountants are an extension of my business.”

Pointers for new brokers

Mr Kelly suggested that young brokers and new entrants could partner with an accounting firm and begin by providing small services to gain their trust.

“It’s pointless knocking on their door saying, ‘I’m great, this is what I can do, I’m sensational, you’ll love this, and we’ll be great’,” he said.

“Accountants are predominantly conservative and they don’t like being told what to do. I would never suggest that I would ever provide one of their clients with a solution that I hadn’t run past the accountant.”

It’s important for young brokers and new entrants to form relationships with a trusted partner, and someone who can trust the broker.

“If you don’t know them, get to know them,” Mr Kelly advised.

Developing relationships also required Mr Kelly to have a comprehensive understanding of the product, particularly in the finance broking space. He ensured that he knew the products’ capability, where it could be applied, how it could change, and all the variations available in the products.

“You have to give choices [to the client] because there are lots of ways to skin a cat. There are always different ways to do it,” Mr Kelly said.

“It’s collaborative with the accountant, client and you. It’s almost a tripartite agreement.”

To hear the entire Elite Broker podcast with Andrew Kelly, click here.

[Related: How this Broker of the Year builds trust with clients and referral partners]