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Australia’s Top 100 Brokers have tapped into the robust demand for housing finance, effectively serving a growing clientele by collectively writing $16.6 billion in home loans in the 12 months to June 2024.
To identify 2024’s top performers, MPA invited brokers to submit the total value of loans they had written over the past financial year and the number of loans to determine their average loan size. The final list was ranked based on the value of loans written.
According to the Australian Bureau of Statistics September 2024 bulletin, the value of new loan commitments in the broader market showed that:
Throughout MPA’s survey period, the best mortgage brokers recorded an average of 253 loans each, highlighting that high volumes of residential loans are achievable through their expertise in these areas:
At the top of the chart is Catalyst Advisers’ Stephen Michaels, who ranked No. 1 after writing $381 million.
“Every few years brings a shake-up in the finance industry, and I’ve seen at least four different meaningful changes during my time,” he says. “It’s all about appreciating that things will change on a regular basis, which keeps me on my toes and second-guessing everything we’re doing to ensure it’s the most effective.”
MPA’s 2024 data shows that while the total value of home loans written decreased by approximately $800 million compared to the previous year, the barrier for entry onto the list increased from $113 million to $123 million this year.
All of this year’s best mortgage brokers have set themselves apart by putting their clients at the centre of everything they do.
Success runs in the family for the brothers, who co-founded the Double Bay, Sydney brokerage in 2016, and both made the Top 100 Brokers list again this year.
Together with a 55-member team, including 12 mortgage brokers, Azura Financial has gone from strength to strength. Its achievements include:
The brothers say that the company’s purpose is to make lending a six-star experience, underpinned by their belief that exceptional service leads to exceptional outcomes; that they should only give advice they would give to themselves; and that success means knowing what to do and doing it quickly.
For residential broker and director Tom, who ranked No. 5 after writing $267 million, serving a client list of largely time-poor, ambitious professionals and business owners in Sydney’s Eastern Suburbs, Inner West and Lower North Shore is an opportunity to shine when tailoring solutions to complex lending needs.
“While I still write loans as well as help run the business, this never comes at the expense of hands-on, personalised engagement with my clients,” he says.
Director Ben, who ranked No. 26 after writing $184 million, notes that Azura Financial achieved a significant milestone in 2024 by settling $1.148 billion, an increase from $1.028 billion the previous year while maintaining a 0.5% average arrears rate.
“Our aim is to provide the best possible lending experience we can, as we firmly believe great service leads to great results,” he says. “I enjoy being part of a team that values collaboration and is committed to ensuring our clients feel supported throughout their journey.”
The siblings’ strategies that contributed to writing high loan volumes over the past year include a long-term client-centred approach focused on personalised solutions, consistent communication and leveraging the support of their top-tier team. They emphasise that their industry expertise, watertight processes and reputation for unflinching high standards set them apart in an increasingly competitive space.
The brothers have differentiated themselves. For example, Tom’s attention to detail has ensured he has never had a complaint or failed settlement, bolstering both his professional standing and loan volumes. He has also built an audience of over 30,000 followers across LinkedIn and Instagram, achieving exceptional reach by sharing informative content with an engaging perspective.
Meanwhile, Ben’s deep knowledge of lender policies enables him to navigate the most complicated scenarios with creative solutions, such as securing policy exceptions.
The Hawleys also have a winning game plan to manage client relationships. Through proactive repricing and consistent communication, Tom has retained close to 100% of existing clients as he prefers to renegotiate before refinancing, resulting in an average loan life of 4.1 years versus the market average of three years.
“As part of my unique value proposition, I refer clients to other service providers in a trusted property-purchasing ecosystem, including top-of-class financial planners, buyers’ agents, solicitors and accountants,” he says. “We manage this as a sort of concierge service that ensures clients get all the help they need through their property journey by completing a preferred contacts list up front.”
After purchasing a loan book in 2023, Ben was surprised by some of its high interest rates because previous brokers had not kept track or been in touch to help clients refinance. He committed to proactively helping them reprice, an initiative carried out throughout the brokerage, resulting in him repricing his book of over 500 clients over six months, achieving over $1 million in total interest savings.
“To make this possible, I use Azura’s proprietary book management system that logs every loan I’ve ever settled in a database, including the settlement date, account number, current loan balance and live interest rates,” he says. “Each loan event triggers a calendar invite to the client so we can discuss the next move.”
Cracking MPA’s Top 100 Brokers list is an achievement that this top broker has been striving towards.
As director and the driving force behind the boutique brokerage, Daoud, who ranked No. 92 after writing $126 million, has embraced the idea of scaling down DOT Financial’s operations instead of up. He has one associate to handle back-end administration, freeing up time for him to spend with clients and putting together solutions that achieve the best outcomes.
“It’s almost like reverse engineering,” he says. “I’m close to my clients, and I love that because it’s all about relationships. I like dealing with them and providing that personal touch.”
His clients, in turn, have proven to be passionate advocates in boosting his growing customer base solely through word-of-mouth referrals. He doesn’t advertise or leverage social media.
Three main focus areas have propelled Daoud’s top performance, including:
With almost a 100% conversion rate, his hands-on, quality-over-quantity approach has demonstrated Daoud’s successful philosophy that a smaller, more refined operation can yield higher client satisfaction and loyalty.
By prioritising a connected client experience, Daoud has differentiated himself from competitors striving for growth and scale. This mindset also enables a healthy worklife balance, allowing him to put his best effort forward for clients.
“I enjoy my scaled-down approach because it works for me,” he says. “I like being in the trenches and right in the middle of the business.”
Being selective about clientele allows Daoud to maximise the results he can achieve. To maintain strong relationships, he touches base with all his clients at six- and 12-month intervals, facilitated through his CRM system. Part of the check-in includes a call and email, as well as ongoing pricing reviews as they fall due.
“It’s really basic stuff, done consistently and done well,” Daoud says.
For over 20 years, the principal and primary loan writer has been a driving force in Australia’s finance industry, from corporate and commercial banking to leading the broking team at the NSW brokerage he founded in 2019.
Rakowski, who ranked No. 37 after writing $165 million, is part of the Top 100 Brokers for the fifth consecutive year. With a focus on shaping business strategy around growth and acquisition opportunities, he thrives on building and maintaining meaningful relationships with clients and industry partners.
This is a human business, and having a genuine interest in those you work with, whether they be clients, lenders or suppliers, is half the battle,” he says. “It’s also about long-term thinking. We are not transactional and always think strongly about the future in every client interaction.”
A simple yet profound approach has cemented his reputation as one of the top brokers, known for his commitment to:
Rakowski says, “This comes down to not complicating things. The other part is having the right team around you. We have the best of the best in each role, from the first client meeting until settlement.”
The founder and head broker manages a 1,500-plus client portfolio and mentors an eight-person broking team, helping clients achieve their homeownership dreams or guiding those in financial hardship to save their family homes.
Through coaching and teamwork, Vartanian, who ranked No. 47 after writing $155 million, has built an inclusive and supportive culture that enables a healthy work-life balance while boosting client referrals, conversions and settlements.
“Watching new brokers go from ‘zero to hero’ is the ultimate reward for me and keeps me motivated daily,” he says.
Three core approaches have been essential to Vartanian’s success:
Vartanian nurtures client relationships with the care and respect he offers family and friends. He has built connections through transparent and honest communication.
“This trust allows us to keep conversations concise, as my clients are confident in the solutions I provide, leading to minimal pushback and enabling me to focus on other important aspects of the business,” he says.
“That said, I always make time for my clients, ensuring I’m available for calls and scheduling more in-depth discussions when needed. I’m also fortunate to have excellent support from my team, especially m my assistant Louisa, who plays a key role in keeping everything organised.”
Azura Financial’s Tom Hawley helped clients navigate reduced borrowing capacities, grew his settlements in a sluggish market and maintained exceptional customer service.
“To settle $267 million in a challenging market, I grew my team into three separate credit advisory pods, each with a target to lodge 10 to 12 deals a month, and I hired a business manager to help manage all my lead generation activities and referral relationships,” he says.
“By implementing this structure, with the support of our dedicated settlements team, I grew my application lodgments by over $100 million year over year, which then converted to strong settlement growth.”
Ortus Financial’s Rakowski and his team had to be more focused than ever, ensuring their entire client portfolio was getting the best possible deal on their existing loans.
That’s because fewer clients were purchasing properties due to the state of the property market. In a typical year, new purchases would contribute 80% of new business versus 20% refinancing onto a more suitable product. But this past year, those numbers have flipped around somewhat.
“From a personal perspective, and despite being directly involved in lending for 23 years, there are still those occasional moments of self-doubt and low energy,” Rakowski says.
“When you care so strongly about your clients and getting the best possible outcome, it can be emotionally draining. That said, positive thinking and trusting the process with a view to long-term goals is the best way to snap out of it.”
A persistent but ultimately welcome challenge for Ben Hawley was the increased complexity of client scenarios in FY24, often via a lastminute referral from a real estate agent or financial adviser after a disappointing experience with another broker.
“To meet the needs of this clientele, I deepened my relationships with key lenders, as the speed of turnaround and achieving approval on outside-the-box transactions were absolutely paramount,” he says.
“I block out time each week to proactively build a strong rapport with the management teams of credit departments, so my deals are prioritised when the situation demands it.”
DOT Financial’s Daoud directs his efforts towards addressing client challenges, such as the rare occasion when a client falls into arrears.
Whatever the cause of the hardship, he works to find solutions that help clients regain stability. His 0.03% default rate on a $320 million portfolio is a testament to his commitment to going above and beyond for clients.
“It’s just paying attention if somebody’s in trouble and offering them options,” he says. “Working for the bank at the start of my career has enabled me to be competent on the back end in combination with the front end, on the sales and relationship side.”
From Vartanian’s perspective, Hero Finance clients faced tough challenges in the past year, similar to those of the other top brokers, particularly with rising interest rates and reduced borrowing capacity.
“As rates went up, many clients looked to refinance away from their current banks, so we had to shift into high gear to ensure we not only kept them but also exceeded their expectations,” he says. “We set up plenty of video calls, and I reviewed as many client files as possible to ensure they were getting the right products and rates for their specific needs.”
Concerning borrowing capacity, he notes that it was crucial to set realistic client expectations.
Vartanian says, “We worked on a lot of property purchases last year, and one of the key things was helping clients stay focused on what was achievable in the current market. For example, if a property was listed at $1.4 million, we’d always check recent sales to give clients a more accurate picture, ensuring they understood that a sale price closer to $1.6 million was more likely.”
By doing this, the team helped clients submit offers more likely to be accepted by vendors. As a result, Vartanian saw a higher conversion rate on pre-approvals and helped clients avoid the frustrating, endless property search that often comes from unrealistic expectations.
CommBank is proud to continue our sponsorship of MPA’s Top 100 Brokers for 2024. We want to congratulate you on setting the standard of excellence within the mortgage broking industry and delivering exceptional customer outcomes. We are dedicated to giving you more confidence with CommBank, empowering you to achieve more for your clients.
At CommBank, we strive to deliver reliable, accessible, transparent and adaptable products and services, helping you to continue delivering excel lent customer outcomes. We would like to recognise all of the Top 100 Brokers. Thank you for your incredible commitment to your customers, providing them with the best experiences possible.
Congratulations once again, and good luck for the remainder of the year and into the next.
Razia Khan
General Manager, Third Party Banking
Commonwealth Bank
To find the Top 100 Brokers in 2024, MPA asked brokers across the industry to submit the total value of loans they had written over the last financial year. Brokers were also asked to state the number of loans they had written so MPA could determine their average loan size.
The Top 100 list was determined and ranked based on the value of loans written between 1 July 2023 and 30 June 2024.
MPA’s 15th annual Top 100 Brokers is proudly sponsored by Commonwealth Bank.
