After exploring financial planning, he returned to mortgage broking and never looked back
Broker in Focus is a dedicated series that highlights the unique journeys of mortgage brokers, providing them with a platform to share their experiences, insights, and expertise. Through compelling personal stories and professional reflections, each featured broker recounts the key moments that have shaped their careers, delves into the challenges and opportunities facing the industry today, and shares the valuable wisdom they have gained along the way.
MPA caught up with Peter Bassilios (pictured above), managing director of Money Tree Mortgage Brokers, whose journey, spanning nearly two decades, has taken him across multiple sectors in the financial industry, each step contributing to the foundation of his thriving brokerage business.
Full name: Peter Bassilios
Job title: Managing director
Company: Money Tree Mortgage Brokers
Number of years in the industry: 15 years
Location: Servicing Australia wide
How and when did you become a mortgage broker?
My path to mortgage broking has been anything but linear, weaving through different facets of finance to ultimately shape the mortgage broker I am today. My journey began in 2006 as a mortgage specialist at ANZ, where I spent three years learning the ins and outs of lending. But I wasn’t content with a single perspective on finance. Seeking a broader understanding, I took a turn into financial planning, dedicating nearly seven years to helping clients strategise for their financial futures.
Then, in 2016, I found myself drawn back to mortgage broking, a space where I felt I could make a more immediate, personal impact. I recognised a growing demand for a different kind of broking: one rooted in transparency and truly client-centered guidance. Since then, I haven’t looked back, I reflect, now equipped with a dual background in financial planning and mortgage broking that allows me to empower clients with both critical knowledge and financial options.
Now, with years of experience behind me, I have launched my mortgage broking company, operating since July 2023. For me, broking isn’t just about numbers; it’s about building a business that makes a real difference in people’s lives.
In your opinion, what has been the most positive development in broking?
The biggest positive development in broking has been the industry’s increasing commitment to transparency and client-first practices. Enhanced regulations and tech advancements have made it easier for brokers to give clients clear, accurate information, in a timely manner which in turn builds trust. Clients now have more power to make informed financial decisions, and brokers have the tools to personalise their guidance.
What challenges do you see currently facing the industry, and what solutions would you propose?
One significant challenge is the rising complexity of compliance regulations, which, while necessary, can sometimes become a barrier to efficient service. I believe investing in robust training and advanced digital tools that streamline these processes could enable brokers to stay compliant while still focusing on the client’s experience.
One of the biggest challenges I’ve faced has been managing the dual demands of setting up the structure of my mortgage broking business while also driving in sales, especially in the early stages. Building a strong operational foundation takes time and focus, but bringing in leads is equally critical to the business’s survival and growth. Balancing these priorities was no easy feat, as each aspect demanded my full attention and resources.
To tackle this, I prioritised creating an efficient business structure and delegated certain tasks to trusted team members and external partners. By focusing on the core strengths I bring to the business, connecting with clients and generating leads, I was able to maintain a steady flow of sales. For the structural and administrative setup, I leveraged technology and automated processes where possible, allowing me to keep the business organised without sacrificing client interactions. It’s been an ongoing balancing act, but finding this rhythm has allowed the business to grow sustainably while ensuring clients receive the attention they deserve.
Can you share a memorable or challenging experience from your career as a broker and the lessons you gained from it?
A particularly memorable challenge involved a client going through a difficult divorce who urgently needed financial assistance to secure stable housing. It was a sensitive situation, requiring not only financial expertise but also a deep level of emotional support. Navigating this delicate balance, we worked together to find solutions that went beyond the usual services to help him through an incredibly tough transition. When he later thanked me for “saving his house,” it was a moment of pure joy and validation. I was grateful to have been able to provide guidance after he’d previously received poor advice from another lender, and it reinforced my belief that our work truly makes a difference in people’s lives.
Could you share any valuable advice for individuals aspiring to become brokers or those new to broking?
My advice is to prioritise building strong relationships that can evolve into valuable referral partnerships. While technical knowledge is essential, it’s the ability to genuinely listen and understand each client’s unique needs that truly sets outstanding brokers apart. Additionally, make a commitment to continuous learning. The industry shifts rapidly, and staying informed not only enhances the service you provide but also boosts your confidence as a professional.
Broker in Focus is a weekly MPA feature spotlighting mortgage brokers from diverse firms and locations across Australia. Among those recently featured are Andy Truong of Alliance Mortgage Group, Andrew Hadjidemetri of Australian Financial and Mortgage Solutions, John Minihan of Professional Finance Mortgage Broker, Daniel Bowler of Mortgage Choice, Scott Wills of Mortgage Choice, Camilla Lewis of Derwent Finance, Harrison Brown of Aussie, and Anthony Bloom of My Mortgage Partner.
Are you a mortgage broker interested in being featured? Email the author with your details.
