Managing operations and compliance
Becs McCallum (pictured above), a senior mortgage adviser at Loan Market, began her journey in 2011 after a decade at Westpac. Transitioning from banking to broking, she found her passion in helping clients navigate their financial journeys.
From Westpac to mortgage adviser
Seeking a change after a decade at Westpac, McCallum initially planned a gap year, considering interior design and then pursuing an accounting or business degree.
However, after just four months, she grew bored and seized an unexpected opportunity at a kids’ party to take a mortgage adviser support role.
“Love of numbers, finance, problem-solving, and a lot of life experience had a real advantage in starting out as a mortgage adviser and progressing through the different stages of business to get to having my own team,” McCallum says.
Embracing compliance and regulation
McCallum highlights the improved compliance and regulation as the most positive developments in the industry.
“Improved compliance and regulation has been a good thing to come into the industry to make sure that clients are getting the best possible outcome and dealing with good advisers,” she says.
However, she acknowledges that these regulations come with challenges in an ever-changing lending landscape.
Managing operations and compliance
The biggest challenge McCallum sees in the industry is managing daily operations alongside compliance and regulatory requirements.
“Depending on the size of your mortgage adviser business, you might have team members to help with the additional workload,” she says. “Additionally, you may consider partnering with an aggregator to manage these requirements, especially if you are part of their FAP.”
Guiding clients through challenges
One memorable experience for McCallum involved a client in a tricky situation needing a solution to buy out a friend from a jointly owned property.
“It was a complicated situation, so we broke it down into stages that were easy to understand and manage for our client,” she says.
Over eight years, the client sold and purchased properties, positioning themselves and their family in a great location.
“It's been lovely to be a part of their journey, seeing their different milestones and maintaining an ongoing relationship,” McCallum says.
Integrity in broking
For those new to the industry or aspiring to become mortgage advisers, McCallum emphasises the importance of setting values and establishing a solid work ethic.
“Do things for the right reasons. It's also about relationships with business partners, clients, and the team,” she says. “Act with honesty and integrity and empower the team and clients with tools to make informed decisions and reach their goals and milestones.”
Ultimately, she stresses the importance of enjoying what you do.
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