How did you get into the industry?
I worked as a business banking manager for one of the majors (doing commercial and agribusiness finance). I had wanted to establish and build my own business and had considered going into the broking industry for a while. As part of my feasibility process, I talked to a few brokers I knew before committing to set up Stanley Finance.
What are the advantages of broking in a regional area compared to the capital cities?
Smaller towns typically have closer communities which, if you have happy clients, allows greater opportunities to build a local and regional reputation, network and brand. People like to do business with people they know and trust, and this may be easier in regional communities, as long as you’re doing a good job for your clients.
What are the disadvantages of broking in a regional area compared to the capital cities?
Lenders sometimes have more restrictive lending policies in regional areas, and some lenders don’t lend outside city areas at all. Given the much smaller
population outside of metro areas, there are less opportunities in a given geographical area, making it more challenging to specialise in specific areas (except for agribusiness).
What are the misconceptions that city brokers have of regional brokers?
I’m not aware of any misconceptions. However, if anyone thinks that the apparent more casual way of life in the bush translates into brokers being any less progressive in their businesses, I’d certainly make a strong argument against that!
What would you be doing if you weren’t a broker?
Just for something completely different, a survival course instructor. This is one of my interests having done an advanced survival course in the Pilbara a few years ago.