Young Broker of the Year 2016

Francesca Krakue Monday, 21 November 2016 Comments 0
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Young Broker of the Year 2016 Ranking

Amid industry concern about a high rate of attrition, 30 hugely successful young brokers from across the country are showing us all how hard graft and ambition can deliver excellent results. Here, we reveal who the best brokers under the age of 30 are, in The Adviser’s 30 Under Thirty ranking 2016.

GENERATION DOMINATION

Meet the young guns who are taking the industry by storm in a special report on The Adviser’s 30 Under Thirty ranking 2016

 

The Methodology:

 

To be eligible for this year’s 30 Under Thirty ranking, brokers had to be aged 30 years or under as of 1 July 2016. Brokers could either nominate themselves or be nominated by a colleague. To ensure transparency, broker’s submissions were checked against a third party for validation – primarily an aggregator, BDM or state manager.

As in years past, this year’s rankings were weighted to uncover the final 30. The broker was initially ranked and then their position was weighted, with 40 per cent for residential volumes, 40 per cent for number of home loans written and 20 per cent for “other volumes” (commercial, vehicle and equipment finance, insurances etc.). In the case of a tie, the broker with the largest residential volume was ranked highest.

The Adviser would like to congratulate all those who submitted an entry this year and particularly those who made it into the final ranking.

 

Overview:

 

Breaking into the mortgage broking industry is no easy feat for anyone, and being younger than everyone else can compound that difficulty. As the FBAA has warned, 50 per cent of all new-to-industry brokers don’t make it through their first 18 months of business.

Upon entering the industry, young brokers can face numerous challenges that can leave them feeling hindered by their age.

As Harry Favetti of Shore Financial points out, often clients will associate young age with inexperience and incompetence.

“It’s certainly the biggest challenge when meeting new clients and referral partners,” he says. “You are forced to work that little bit harder to prove your worth compared to older brokers in my opinion.”

This year’s winner, George Samios of MADD Home Loans, adds: “When you first start out, not all the banks want to deal with you because you have no runs on the board, you have no past successes.”

However, despite the challenges, the brokers who made the ranking have proven that jumping into the industry at a young age can bring with it many benefits.

 

The benefits:

 

The average industry experience of brokers in this year’s ranking is just over four years, and with an average age of 27 they’ve managed to write a staggering $1.9 billion worth of residential loans between them. Nathan Smith of Mortgage Choice, who was most improved for this year’s ranking, emphasised that young brokers are well-placed to help clients for the long term. 

“Retirement is still a long way off for most of us, so it means that we can help that client all the way through, build a network, and have that repeat business coming in for many years to come, as well as new business,” Mr Smith explains.

Nelson Bodeya, a new entrant to the ranking and the director of Loan Market Botany, adds that being young in the industry means that he is “hungry to succeed and grow”.

“I am motivated to continue to learn and adapt to a continuously evolving finance industry.”

Harry Favetti of Shore Financial agrees, adding: “We aren’t complacent or stuck in any old ways. I can work harder and longer than my competition due to the fresh energy and stamina my young age gives me.”

 

The time is now:

 

With 15 new entrants to the ranking this year, it’s clear that there’s no time like the present for young people to try their hand at being brokers. Mortgage Choice’s Nathan Smith points out, “there’s more opportunity now than there ever has been” for young brokers entering the industry. 

Brenden Lowbridge of Investor Loans Network adds: “I believe the stars are aligning for young brokers … I encourage the next generation to consider this industry as a career choice.”

The impressive results in this year’s ranking clearly show that when it comes to being successful in the industry, age is just a number.

 

 Young Broker of the Year 2016 Break

 

A WORD FROM HERITAGE BANK
Partner of Young Broker of the Year 2016

AT HERITAGE BANK we’re particularly proud of the support we provide to brokers who are new to the Michael Trencher, Heritage bankindustry and who are building and growing their businesses.

The broker channel has always been important to us and we’ve developed great relationships with our broker partners over that time. With plans to grow our overall business significantly in coming years, our mortgage broker channel will play a critical role in enabling us to achieve those goals.

As Australia’s largest customer-owned bank, we understand the importance of supporting local communities, and we believe our approach aligns closely with the value brokers add to their clients and communities.

We see brokers as our partners in helping customers achieve the best outcome possible, and we’re delighted to support activities that grow and build the professionalism in the mortgage broking industry.

Michael Trencher
head of broker distribution, Heritage Bank

 Young Broker of the Year 2016 Break

 

George Samios of Madd Loans, Young Broker of the Year 2016
Matt Cunliffe of Mortgage Choice, Young Broker of the Year 2016
James Chatfield of Chatfield Consulting, Young Broker of the Year 2016
Hussain Mufti of Mufti Finance, Young Broker of the Year 2016
Jacqueling Wang of N1 Loans Pty Ltd, Young Broker of the Year 2016

Q&A 
THE YOUNG BROKER OF THE YEAR
GEORGE SAMIOS

The winner of this year’s ranking started out in the industry at just 20 years old, and has gone from strength to strength since then.


George Samios, Madd LoansQ. What are some of the challenges you face as a young person in the industry?


When you first start out, not all the banks want to deal with you because you have no runs on the board, you have no past success. The only way to get that is to start somewhere. And after a few years, people will see that you’re not just all talk. And then you start getting recognised, and they start giving you better rates for your clients and faster processing times.


This all happens with experience, but when you first start you have nothing. You just have to be patient.


My 80-year-old grandmother gave me some advice. I asked her what’s the number one piece of advice you can give me. She said: “George, patience”. 


I took it as patience with everything. You can’t become a success overnight, it takes years and years. People look at you not by your age but by how confident you are. If you’re confident in what you’re doing, then it doesn’t matter how old you are.

 

Q. You were 20 when you were writing loans, did you start out as a mortgage broker in that year or did you start in the banking and finance industry?


I was never a teller; I was never a salesperson in a bank – I went straight to mobile bank manager at 20. When my old boss employed me I said ‘I will be your number one mobile bank manager, even though I don’t know anything about home loans. You can teach me about home loans but you can’t teach someone my confidence and my hard work ethic’. She took a gamble and the gamble paid off.

Q. What are some of the benefits of being young in the industry?


When I was 20 years old, I told my old boss when she was interviewing me: ‘I have got no bad habits, I’m completely malleable, I will become whatever I need to become to be the best’. That’s the thing which a young person has. You have a good work ethic, you have energy, and you have confidence and determination. All you need is to be taught. And you can teach us anything, we can learn anything in three months.

The best thing about our job is to have good work ethic, morals, hard work and determination and you’ll go far in this industry.

 

 

Young Broker of the Year 2016 Break 

2016 TOP 30 UNDER THIRTY RANKING

 Search the rankings below by using the text filters or the drop down selections:

RANK NAME COMPANY AGE 2015 CHANGE YEARS AS A BROKER AGGREGATOR TOTAL RESIDENTIAL LOANS 2015-16 NO. MORTGAGES WRITTEN TOTAL OTHER LOANS
1 GEORGE SAMIOS Madd Loans 27 2 4 Connective $151,714,027 346 $79,745,041
2 MATT CUNLIFFE Mortgage Choice 30 N/C 7 Mortgage Choice $106,981,418 269 $14,357,461
3 JAMES CHATFIELD Chatfield Consulting 29 2 6 Connective $104,678,398 250 $3,203,000
4 HUSSAIN MUFTI Mufti Finance 29 NEW 11 AFG $71,072,907 163 $3,461,378
5 JACQUELINE WANG N1 Loans Pty Ltd 29 NEW 4 FINSURE $185,864,795 392 NIL
6 AMIE TENNANT Future Finance Group 28 1 8 Choice Aggregation $71,500,000 327 $122,000
7 JOEL WYLD Peasy 30 4 4 AFG $100,171,673 177 $270,000
8 NATHAN SMITH Mortgage Choice 30 12 7 Mortgage Choice $60,000,000 173 $820,266
9 CHRIS HAZELL Bespoke Finance 30 14 6 Connective $49,173,000 165 $1,870,250
10 BRENDEN LOWBRIDGE Investor Loans Network 27 NEW 5 Plan Australia $62,949,231 150 $400,000
11 DANLI CHEN Mortgage Choice 30 NEW 2 Mortgage Choice $62,311,473 141 $500,000
12 LOREN HILL Smartmove Professional Mortgage Advisors 26 6 3 AFG $64,577,664 100 $650,000
13 NELSON BEDOYA Loanmarket 29 NEW 1 Loanmarket $50,000,000 129 $908,000
14 REDOM SYED Confidence Finance 26 NEW 2 Connective OSN $55,486,149 184 NIL
15 BRENDAN O'REILLY MO'R Mortgage Options 29 2 11 Choice Aggregation $48,806,038 172 $195,000
16 MITCHELL SHAD Smartmove 24 10 2 AFG $64,054,648 137 NIL
17 GRIFFIN CZIPRI eChoice 28 5 4 eChoice $47,563,172 128 $1,050,000
18 THEO JANSEN 262 Financial Solutions 28 3 5 Mortgage Choice $43,000,000 127 $1,595,000
19 BENJAMIN PASSFIELD Mortgage Choice 28 3 4 Mortgage Choice $41,388,107 129 $94,000
20 ALLAN ALI Mortgage Choice 29 NEW 4 Mortgage Choice $34,000,000 87 $6,400,000
21 MARSHALL CONDON Neue Black 26 8 3 Finsure $39,794,054 80 $257,548,334
22 VINCENT MOORE Stratton Finance 24 NEW 2 Connective $37,264,200 90 $1,800,000
23 LEE SHA CHAN Finance Detective 27 NEW 2 FAST $42,600,500 82 $2,120,000
24 HARRY FAVETTI Shore Financial 21 NEW 2 AFG $55,000,000 87 NIL
25 JACOB DECRU Loan Market 26 NEW 2 Loan Market $46,902,771 98 NIL
26 NATASHA CHOI The Australian Lending & Investment Centre 26 NEW 1 Connective $44,888,464 92 NIL
27 EVAN CHRISTIE Cape Finance Group 30 3 6 Connective $39,336,442 74 $1,911,540
28 CAMERON TILLEY Westminster National 27 NEW 3 FAST $33,902,940 74 $8,373,251
29 MUSTAFA HADDAD Anne Street Partners 26 NEW 4 AFG $31,739,374 72 $2,913,000
30 LIAM O’DONNELL  Value Finance 27 NEW 4 Resolve Finance $35,662,305 86 NIL


Disclaimer: The Adviser has undertaken a process to ensure the accuracy of data used to formulate the rankings. Data for the ranking was supplied by the brokers themselves and while The Adviser has attempted to validate the accuracy of the data, any errors are the responsibility of the brokers themselves.

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