How a broker support manager is helping brokers build a strong, sustainable business

Loreta Berti

Loreta Berti, our Broker Support Manager in NSW, shares why she thinks having the right mentor can help brokers build a strong and sustainable business.

When did you start working at Connective? What industry did you come from before joining Connective?

I commenced working at Connective in February 2016.

Before joining Connective, I was managing and writing loans for a property investment department within a finance broking business and have been in the industry for over 10 years.

Prior to the finance industry, I was a co-owner of a real estate company and prior to real estate, I worked in an accounting practice for 10 years.

Tell us what you love most about your job

It’s rewarding to watch a broker achieve success. Of course, this comes in many forms. Understanding a broker’s business and their goals, I get to understand what success means to them. Finding solutions, challenging and guiding brokers who want to take their business to the next level and achieving this, is rewarding.

Tell us about a time when you had to go the extra mile for a client and it made a big difference to their business

A broker was having doubts about his ability to maintain his business and was considering leaving the finance industry.

We held a few meetings discussing his short-term goals. From there, we strategically amended business processes, prepared a marketing plan and segmented his database so that he could manage it constructively.

Letters were prepared to send to accountants, solicitors and real estate agents for referral arrangements. Joint meetings with lender BDMs were organised so that he could build relationships with lenders.

I encouraged him to diversify into asset finance and insurance for cash flow purposes and to prepare for a holistic finance solutions business.

Today, he is a successful and professional finance broker.

Why is mentorship important for you and your clients?

It is important to create good habits, structure, and processes. A mentor guides and holds one accountable.

A good mentor can assist by bringing their mentee ‘back on track’, keeping them motivated during challenging times.

There is a greater chance of a broker building a strong and sustainable business with the right mentor.

What value do you think an aggregator brings to brokers?

An aggregator is an extension to a broker’s business. Research, knowledge and experience is the value an aggregator brings to a broker.

Tell us what makes Connective different and stand out from other aggregators from your point of view. Why should brokers join Connective?

Leadership and respect within the industry.

Connective put a lot of research into learning and development. Many of our brokers include their admin support staff to attend these sessions which is cost effective for their business.

Challenges for a finance broker include developing a business process, marketing plan and compliance. Our own developed CRM, Mercury, can provide a solution to all of these challenges.

Our finance brokers have a dedicated Broker Support Manager and Compliance Support Manager.

How are you supporting your clients who are struggling with their business during this time?

Lots of phone calls and online meetings encouraging brokers to look at diversifying if they haven’t already started and to use this time to build a stronger business, not just working 'in' their business but 'on' their business.

Organising workshops that empower them with knowledge about real estate, contracts of sale, risk, compliance and asset finance.

Changing their mindset to look at this time as a great opportunity for changing, developing and ultimately improving their business for a sustainable future.

How does the broking industry look to you post COVID-19?

We have already seen a lot of change within the finance industry. Change is always necessary so even with the uncertainty brokers and the industry has experienced as a whole, open minded brokers are doing well, going with the flow (rather than resisting) and building a sustainable business.

There is still business out there. Our brokers continue to be busy assisting their clients with their current loans and writing new loans.

The industry has evolved and changed a lot from where it was 10 years ago. Our brokers are very resilient and positive. Brokers that are diversifying, maintaining client contact and have a segmented database will continue to strive.

Some may need to change the way they conduct their business, but life is about change and if brokers are resilient, they will discover they can build a better one. There are more products today and competition than there was 15 years ago, but competition drives business and we need that.

Find out how Connective will help accelerate your business growth