In this second entry of the nine-part series, Brendan Wright, CEO at FAST, introduces education and upskilling as powerful tools to enable brokers to tap into the opportunities which diversification and SMEs represent.
Just as the broker channel has ramped up in the residential finance market, we believe commercial finance is the next big growth opportunity. At FAST we have the confidence to say that the brokers who can cater to SME needs, will be best positioned to lead the industry.
The thought of diversification might seem daunting and complex but education is one sure-fire way for brokers to get in now and meet the existing needs of their client base.
A lot can be learnt from engaging with your network. PD days offer a great opportunity to mingle and share ideas with other brokers and I’d urge all brokers to take advantage of the training opportunities your aggregator can provide to help develop your skills and improve your development. Ultimately, the best advice I can give is to work out where you want to go in your business, start there and then talk with a trusted adviser to work out what your options are.
Education and upskilling is a key focus for brokers who want to stay ahead in an increasingly competitive market. At FAST, we practice what we preach and as part of our commitment to education, we announced our scholarship program for brokers to take part in the new MFAA Equipment & Commercial Finance Education Series.
This program is a great example of a way for brokers who want to develop their capability and start building an equipment and commercial portfolio. Excitingly, 14 FAST brokers were offered the scholarship, giving them the opportunity to learn how to meet the broader needs of their existing clients and grow their client base. I’d highly recommend brokers to consider taking part in an education series such as this- it gives brokers the opportunity to learn the powerful tools for diversification, strengthen their offering and enhance their consultancy skills.
Remember, the biggest mistake is not doing anything because if a broker does not meet these needs of their clients someone else will.
Brendan Wright will continue to help brokers across the country learn how to unlock their potential in this blog series.
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