How Dane Vickers is reshaping broker-client relations
Dane Vickers (pictured above) went from assistant to adviser, transforming client trust and tackling tough regulations in mortgage broking.
From assistant to adviser in the evolving world of mortgage broking
In 2020, Vickers made the leap from being an assistant to a mortgage adviser, a transition marked by both challenges and substantial learning.
After two years of observing and participating from the sidelines, Vickers stepped into the limelight to make a more direct impact on clients’ lives.
“I became an adviser in 2020 after being an assistant to an adviser for two years,” he says.
The changing face of client-broker engagement
One of the most noticeable changes in the industry, according to Vickers, is how the public perceives and engages with brokers.
“The most positive development is clients’ engagement with brokers,” he says. “The public is becoming more understanding of what brokers do and starting to use them more than going direct to the bank. They are building trust towards a broker and realising the impact we can have on their lives.”
This evolving dynamic underscores a growing appreciation for the personalised service brokers provide, contrasting the often impersonal nature of direct bank interactions.
The regulatory double-edged sword
However, the path of a mortgage adviser is not without its hurdles.
Vickers points out the increasing challenge of navigating a landscape dense with regulations.
While acknowledging the necessity of regulatory measures for maintaining industry standards, he also notes their constraining effects.
“I see over-regulation as a problem that is slowly rising,” Vickers says.
“Don’t get me wrong, I think it is important to have rules in regulation in place, but it feels like they are starting to restrict the flexibility we have with our clients. There is more admin work required, which takes time away from being able to engage with clients.”
A memorable milestone: First-time home buyers
Vickers recalls a particularly memorable case early in his career, which exemplified the profound impact a diligent broker can have.
“A memorable and also challenging moment was one of my first-ever deals where I helped a young couple purchase their first home,” Vickers says.
“The hurdle was that they were pregnant, so we only had one income to rely on. They were concerned that they would not be able to purchase a home with just the one income, but we found a way.”
Stepping back to leap forward
For those considering a career in mortgage broking, Vickers offers both encouragement and a dose of reality.
“Becoming a broker can feel like a step back but it is very much a ‘one step back, three steps forward’ process,” he says. “You need to be aware that the income doesn’t just instantly appear as it takes time to build relationships and a network that feeds you. If you are starting up then have a safety net of funds to get through the initial phase.”
Through his experiences, Vickers showcases the evolving role of mortgage advisers, from gatekeepers of financial transactions to trusted advisers shaping clients’ futures.
