Adviser shares his tips for success
Mortgage advisers have had a very strong year for deals, and when it comes to further boosting those numbers, one adviser says that his biggest tip is to have good structure and discipline.
Loan Market adviser Nathan Miglani has consistently hits substantial figures year on year, and he said that, in order to drive significant numbers, an adviser needs to be “brutal” with their calendar and make sure they are working well with their surrounding team, as this will ultimately translate into a steady pipeline of business and satisfied clients.
“This really is the most beautiful and also the hardest business, because it’s all about managing yourself,” Miglani commented.
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“When you start thinking about writing the really big numbers, you need to be extremely disciplined, brutal with your diary, and you need to make sure that your business has a strong structure in place.”
“I’m fortunate enough that we work really well together with my team, and we have a lot of discipline and dedication to the clients,” he said.
“This means they can rely on us, and they feel like they are really well connected with the whole team rather than just the main adviser.
“That’s really the key to success for me - being very disciplined, keeping clients up to date with what’s happening with their application, strong communication, making sure that they are getting the best deal in the market, and just being quick and upfront with them around whether the deal is likely to work or not.”
For those who are looking for a start in the industry, Miglani said that the most important asset to have is banking or finance experience. If you do not have some lending knowledge as a foundation, he said the best thing you can do is work with an experienced adviser for at least a year, before deciding whether you’re ready to branch out on your own.
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“I think the most important thing when coming into the industry is to have some experience working in finance,” Miglani said.
“If you’ve never worked in a bank, please make sure you go and work under an established mortgage adviser firm rather than going out on your own.
“I wouldn’t recommend being a mortgage adviser without that finance background. But if you do want to come straight in, you need to have a mentor for at least 12 months so that you can fully understand the lender policies.”
