From the footy field and into commercial finance, former Brisbane Lions and Port Adelaide AFL player Tom Rockliff sat down with The Adviser to chat about his transition from sports into broking.
In this Q&A, we find out why he stepped away from AFL and how he ended up in commercial finance, his loan process, and some advice for other new brokers out there.
Here's what he had to say:
This content is available exclusively to
The Adviser premium members.
How did you get into broking and why did you step away from the AFL?
I got into finance broking when I finished footy in 2021. I had some blood clots in my calf and lungs, it got a bit hairy there for a bit, but I made the decision to leave after six months of being on blood thinners.
It was the best thing to do for my family. I was married with a couple of young boys at the time and another one on the way so it made the decision quite easy.
I spent 12 months down in Adeliade transitioning away from playing professional sport, sort of just finding my feet and figuring out what I wanted to do.
My father-in-law, Andy Rollins, is in demolition with the Rollins Group and he’s had a broker, Brendan Scott at Commercial Point Finance, for a few years who’s helped him out from time to time. They had dinner one night and my father-in-law mentioned to him I had an interest in finance and working with numbers.
Andy gave me a call the next morning and said to have a chat with Brendan and I ended up chatting with him for a while about what being a commercial finance broker was and what it looked like.
I did a course up in Brisbane when we relocated in December last year and I had my diploma around February or March, and now here I am continuing that journey.
What’s your process for writing a loan?
Firstly we’ll send out the documentation we require, we need almost 100 points of identification for example.
Once we get all that information back from the client, we collate that information and then we go hunting for a lender, looking for the best fit and the best deals we can potentially get for that client.
Once that’s done, we workshop that deal out to a few BDMs and explain the scenario to them, and they’ll come back with a yes or a no.
After that we usually select a lender, and go back and tell the BDM.
There’s a fair bit that goes into the application, especially in a full doc application.
As a new broker, what are some things that could change that would make your life easier?
There’s not all that much that really bothers me at the moment but I’m sure if you asked me in 12 months there’ll be something else because all of this is really new to me and I’m still learning.
I think as I continue to evolve and learn more about the industry, there’ll be other things that will grind my gears.
However, I have been frustrated with some lenders that require a wet signature. Most lenders are moving towards digital signatures but there are still some that ask for a physical one.
What advice would you have for fellow new brokers?
It's about riding that wave of emotion, particularly in equipment finance. Residential is a little bit different, your next pay slip is not coming unless you turn up and do the work, you’ve got to be able to find your next deal.
It's not about resting on your laurels, if you have a quiet period, just know that you’re only one phone call way from your next deal or you’re one phone call closer to your next deal.
The next deal is the most important one. If you have a great day, or a great week, you’ve got to be up and ready the next day and just continue on.
I think having that structure is very important.
If you want to find out more about Tom Rockliff and Commercial Point Finance, tune into the New Broker episode Why AFL star Tom Rockliff became a broker below:
[RELATED: New Broker: Why AFL star Tom Rockliff became a broker]
