Elias' no-nonsense advice for mortgage advisers – specialise or struggle
Jeff Elias (pictured above), director and specialist financial adviser at Futurebound, has spent a decade helping clients navigate the often-complicated world of mortgages. Reflecting on his journey, he sees the role of a mortgage adviser as far more than just numbers and rates. It’s about building lasting relationships that make a real difference.
The rise of mortgage advisers
For Elias, one of the most positive industry developments is the growing public preference for mortgage advisers over direct dealings with banks.
“Homeowners value the steady ongoing relationship when it comes to their financial matters, and they can no longer achieve this when dealing directly with a bank,” he said.
This trend, Elias believes, is only set to grow, with mortgage advisers uniquely positioned to offer personalised, long-term support that banks often lack.
Industry challenges: Technology gaps
While the broking industry has evolved, Elias sees significant room for improvement – particularly in how banks leverage technology.
“The banks are slow to embrace new systems and technology, and this results in slow turnaround times which are really quite unnecessary,” he said.
He argued that embracing AI tools and modern IT solutions could revolutionise the sector. Failure to adapt, he warned, could leave New Zealand’s banks vulnerable to disruption from more tech-savvy international players.
Lessons learned: Price isn’t everything
One pivotal moment in Elias’ career came with the realisation that competing solely on price is a flawed strategy.
“If you try and do this, it is very difficult to constantly deliver, and you attract the wrong type of clients as well – difficult ones,” he said.
This lesson has shaped his approach, focusing instead on providing genuine value and attracting clients who appreciate his expertise and commitment.
Advice for aspiring advisers
Elias offered practical advice for those entering the industry: find your niche and specialise.
“Having a history of previously working in a bank may have meant something once, but it doesn’t anymore,” he said.
Instead, he encouraged new advisers to identify areas where they can truly make a difference.
“If you’re trying to be everything to everyone, you’ll struggle to gain a following. Specialisation and adding real, life-changing value is the key,” he said.
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