After almost a decade in banking, Natasha from WealthStreet made the leap into mortgage broking, creating a business that lets her deliver the kind of client service she’d always envisioned.
A strong foundation in banking
Natasha spent nine years with a major lender, working her way up from a customer banking specialist to a branch manager responsible for more than 20 branches across Sydney, before finishing her corporate career as a mobile lending specialist.
“I worked for a major lender (CBA) for 9 years. Over the course of the 9 years I worked my way up from a customer banking specialist to where I was a branch manager for 7 years, having the opportunity to manage over 20 branches and teams across Sydney to where I finally moved on to a Mobile Lending specialist role,” she says.
That experience helped her develop a deep understanding of both customer needs and team leadership. “I really enjoyed supporting my teams to achieve their KPI’s through coaching around the customer proposition, getting the most out of their first interviews with clients and growing their lending books organically through a customer centric approach.”
Her time as a mobile lender also allowed her to form lasting partnerships that would later prove invaluable. “Having built a solid referral partner base during my time as a mobile lender has been the most important thing in moving on to being a broker as I have maintained those relationships today.”
Why she made the move
While Natasha valued her years in banking, she began to feel limited by the single-lender structure.
“Working for a big brand like Commbank set me up with the right tools and mindsets to be as productive as possible however as we know, not every client is suited to the one lender,” she explains. “Whether it be a policy that doesn’t quite fit or a rate discussion, the limitations around being able to help every client was evident and I wanted to be able to support my clients through all stages of their lives through lending, regardless of policy restrictions.”
That desire for flexibility led her to mortgage broking. “Transitioning to broking has been so rewarding in the fact that WealthStreet now has accreditation and access to over 35 lenders and can confidently place any client with a lender that will be able to support them to get the transaction done.”
Taking the leap into broking
Leaving behind a reliable salary to start her own business was a leap of faith.
“It was scary, nerve racking and exciting all at the same time,” Natasha says. “The biggest question is what is my income stream going to look like now that I don’t have a salary to rely on? If you’re thinking about transitioning to broking it’s really important to plan ahead and ensure that you do have a comfortable buffer of savings to assist with set up costs and carry you for the first 3 months of your broking career as commissions can take that long to start coming through. Now that that hump is over, I haven’t looked back.”
Translating banking skills into broking success
Natasha’s years in banking taught her valuable skills in process management, customer service, and relationship building, all of which she’s applied to her broking business.
“Using the tools and systems that you already use as banker and implementing them as a broker from both a relationship building perspective as well as the processes in managing your lead flow through a good CRM,” she says. “Process automation is built in to bank CRM systems and it’s important to be able to have that same CRM support as a broker so that you can focus on activities that matter.”
The biggest adjustment came in shifting her mindset from employee to entrepreneur. “ It’s not easy going from a comfortable salary and bonus to not knowing what you’re going to be making every month. Understanding that as a broker, we are blessed to have the opportunity to build up a trail book which is our ultimate tool to supporting us financially in the long run.”
Early challenges and breakthroughs
Like many new brokers, Natasha had to navigate a steep learning curve around systems, compliance, and processes.
“A big challenge was not knowing what systems were available to readily and easily assist in navigating different lender policies and servicing calculators,” she recalls. “Additionally, understanding that compliance requirements are different as a broker and require additional documents and processes to be able to comply with our NCCP and best interest duty took some time to get used to.”
On the client side, the move to broking opened new opportunities. “Referral partners, such as accountants, buyers agents and real estate agents, are much more open minded to working with brokers as we have more access and capability to assist their clients with specific needs.”
Client-first service
Natasha’s approach to client service remains grounded in simplicity and transparency.
“Our clients love that having access to a broker is a free service to them. As a broker we have the ability to find and source the best deals on the market and tailor those solutions to their individual needs. This alone is a great service proposition for our clients and saves them time as we package the deal up for them in a few hours.”
Technology as a growth driver
For Natasha, technology isn’t just a convenience it’s a cornerstone of her business model and a key reason for her growth.
“Having a complete digital process from the initial fact find all the way out to settlement is extremely important not only from a service perspective but also a time saving perspective as a broker,” she explains.
That digital process is powered by systems that simplify everything from client onboarding to lender selection. “In the beginning I was relying on our BDM’s, lender policies and navigating each and every servicing calculator. Finding the right deal could take days until I moved across to AFG and was introduced to their fantastic CRM BrokerEngine Plus and the external servicing calculator ran by Quickli where it takes 10 minutes to input a servicing scenario with 35 banks,” she says.
Her tech stack now allows her to deliver speed, consistency, and clarity for every client. “We have advanced tools that update our clients regarding the progress of their deals at every stage, along with an intuitive document upload platform that eliminates the need to manage numerous emails. Additionally, our application lodgement process provides a seamless experience comparable to Docusign.”
By bringing together automation, digital communication, and integrated CRMs, Natasha has created an experience that’s as efficient for her business as it is seamless for her clients.
Support from AFG
AFG has played an important role in Natasha’s success, providing both technical resources and a supportive community.
“AFG has supported me tremendously by providing an amazing partnership manager and support network to assist in navigating the systems, dealing with commission queries, establishing referral arrangements and onboarding staff,” she says.
“AFG hosts a quarterly growth bites session where different lenders and brokers are invited to collaborate together and run through policy updates. BrokerEngine Plus offers helpful learning tutorials on compliance and system navigation. The most powerful tool has been having access to MarketPlace Finance for commercial loan referrals through the Partner Connect referral platform.”
Advice for other bankers
Natasha encourages anyone considering the move from banker to broker to take the leap with confidence.
“Back yourself – trust in your knowledge and abilities and take the leap. There is so much support available to you to ensure that you will claim your success. You just need to have the right mindset and the rewards will come.”
Want to learn how to turn your banking experience into a broking career?
At AFG we work with former bankers to help them with the business aspect of being a broker and support them through the transition. If you’re serious about leveraging your banking skills as a broker, we’ve got you covered. We’ll work with you to help you build your transition strategy and design your business plans.
If you’re interested in our free guide to mortgage broking for bankers, then why not contact us for more information about how we can support you on your journey.
