Focus on your mental health, he says
The welfare of a client can sometimes come before all else, including a broker’s own wellbeing, says finance expert James Brett.
Brett, the principal and broker at his Sydney-based brokerage Truly Finance, said he worked in “a caring profession” that was squarely focused on clients’ needs.
“We care about our clients, we care when we want to get them the best deal, we care when we want them to settle on time and we care if they’re going through a tough time financially,” he said.
“All of this can play on our minds and lead to never-ending thoughts and worry about the financial future for our clients.”
Brett (pictured above) knows the heavy toll the job can take on people in this industry, having successfully battled addition himself while working as a lender BDM.
“I was an alcohol addict for many years which almost completely ruined my life,” he said.
“My sober date is 10/10/2010 and I have been extremely fortunate to be supported by loving family and friends, attended drug and alcohol rehabilitation.
“I tripped and stumbled a few times along the road of recovery, and now have the honour of serving others and provide an example.”
Brett, who won the Newcomer Award at the 2023 MFAA National Excellence Awards, is a passionate advocate for mental and physical health, and wanted to reminded brokers of the importance of caring for themselves especially in the face of challenging situations.
He said while most clients were extremely appreciative of the work and effort brokers contribute, some were not.
“Some say negative things when we feel like we have given so much. This can lead to negative thoughts and stress. Even when we have been our awesome selves, it is hard to not let this hit home,” Brett said.
“Many brokers have come out of high-pressure corporate roles, where the demands seem significant but what we find is once we’re running our businesses, we put ourselves under immense pressure.
“Instead of someone else pressuring us, we pressure ourselves. The pressure can even be more significant: the pressures of performance, feeding our families, growing, wanting to serve and help more people as they have an appetite for our services.
“It can be endless the pressures and expectations we put on ourselves.”
Brett said it was important for brokers not to let their drive to grow their business become too much of a focus.
“There are some inspiring amazing high-performance brokers, and you may be one of them, but don’t let growth get in the way of living your best life.”
Brett said it was also important for brokers to take care of each other and reach out and organise in-person get-togethers when possible.
“I organised a group that meets monthly in a different part of Sydney for a morning 90-minute walk and looking forward to these is just as good as doing it.”
Brett also praised the work of industry groups, the FBAA and the MFAA, which not only organise regular member events but also actively promoted wellbeing and days such as R U OK? Day.
“Lenders also support brokers by providing access to services such as EAP (Employee Assistance Program) for free counselling for those in need,” he said.
According to this month’s Australian Bureau of Statistics Nation Study of Mental Health and Wellbeing, 42.9% of people aged 16 to 85 years had experienced a mental disorder at some time in their life.
The study showed 21.5% of people had a 12-month mental disorder, with anxiety being the most common.
Brett said it was important for people to remember to monitor their friends, family, and colleagues.
“Love each other. It might sound crazy, but love is lacking these days,” he said. “Tell someone you love them and tell them why you love them.”
“If you don’t want to say the word love, say some other words like ‘care for, impressed, inspired, fond, adored, like, care about’.”
Brett said there were telltale signs that people may need you to reach out to them including: when someone you used to talk to regularly goes to ground; someone who used to use more positive language now uses negative language; someone gets a cough/flu/headache more often than before; they’re drinking more than they should; they have stopped exercising, or they have relationship problems.
He said it was important when asking people how they are, to be specific with the questions rather than asking general questions.
“They will know we care about them, and they will give a better answer.”
According to Brett there are some simple things brokers can prioritise their health:
- Eat: fresh, healthy, minimally-processed nourishment
- Sleep: don’t work late, try meditation, and don’t have phones in bed
- Hours: remember that more hours working does not mean more productivity
- Boundaries: learn to say “no” when there’s no capacity
- Exercise: this boosts the immune system among many other benefits
- Drugs and alcohol: reduce these as there’s a correlation between poor health and their use
- Meditation: there are hundreds of types of meditation and many benefits to be had
For Brett, having gratitude is vital and he regards the book The Resilience Project as lifechanging.
The MFAA have a number of resources available to the mortgage sector including the mental health and wellbeing hub (https://www.mfaa.com.au/mental-health-and-wellbeing) which includes details of support services, information on how small businesses can access mental health resources and information on resources such as apps.
The MFAA also suggests those in need access the eBook which looks at balancing work, life and everything else - https://www.mfaa.com.au/balancing-work-life-and-everything-else
If you need help, please use the numbers below:
Lifeline: 13 11 14
Suicide Call Back Service: 1300 659 467
Beyond Blue: 1300 224 636
Do you think brokers need to practice more self-care? Share your thoughts below
