He transitioned from being an accountant to mortgage broking 20 years ago
David Linco (pictured above), director of Davlin Wealth Management, exemplifies the trajectory of a dedicated professional who transitioned seamlessly from accounting to mortgage broking, ultimately establishing a financial advisory firm. His journey is marked by a blend of rich industry experience, rigorous education, and a commitment to client-centric service.
From accounting to mortgage broking
Linco’s career began in the commerce, banking, and finance sectors. With a business degree in accounting and finance and a diploma in financial services, he was well-equipped for the financial world.
Before venturing into mortgage broking, Linco honed his skills as a business analyst at prestigious organisations such as Boral, MLC, Toyota Finance, and Macquarie Bank. His work involved treasury systems implementation, data migration, and software development projects.
In 2003, leveraging his extensive background in accounting and finance, he transitioned to mortgage broking, bringing a wealth of knowledge and expertise to the field.
Davlin Wealth Management, founded by Linco, has grown into a multifaceted financial advisory firm offering a wide range of services. The company operates through three distinct divisions: Davlin Accounting, Davlin Financial Planning, and Davlin Mortgages. This structure allows the firm to provide comprehensive financial advice encompassing property investment, superannuation, retirement planning, insurance, and cash flow management.
Linco attributes the firm’s success to its holistic approach to financial management and a steadfast commitment to client service.
“The widening array of finance options I can present to clients to help them reach their financial goals has been one of the most positive developments in broking,” he said.
Navigating industry challenges
Despite the industry’s growth and positive developments, Linco acknowledges the challenges that brokers face today.
“Improvement in professional standards and clear pathways for entrants are crucial,” he said.
He advocates for the introduction of a formal education plan and a professional year program, similar to those in place for accountants and recently introduced for financial planners. These initiatives, he believes, would enhance the professionalism and credibility of the mortgage broking industry.
Memorable moments and lessons learned
Reflecting on his career, Linco shared a memorable experience that tested his firm’s resilience.
“Time-critical purchases are always stressful, even if clients are pre-approved,” he said. “I had a client find a property while I was overseas. Managing this from Croatia was challenging but rewarding when it finally came together.”
This experience, Linco added, underscored the importance of robust processes and a capable team.
“Over the prior 12 months, with a fast-growing business, I had implemented processes and procedures for my team,” he said. “When the client hit problems, my general manager was able to resolve them over six weeks with only a single phone call to me. The result was a great holiday and the satisfaction that the business could function without me.”
Advice for aspiring brokers
Linco’s advice for aspiring brokers and those new to the field is both practical and profound.
“Best Interest Duty means always putting the client first,” he said. “Having a value-based approach will hold you in good stead when juggling work and family and ensure the business grows with a steady stream of referrals.”
He noted that this approach might sometimes mean refusing to do deals, but added that clients often respect the rationale behind walking away.
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