This adviser's banking roots trace back to BNZ
Kim Laurenson’s journey from a seasoned banker to the heart of MyLend showcases a blend of industry acumen and genuine empathy, setting a gold standard in mortgage advising amidst today’s financial challenges.
Building a career in mortgage advisory
Laurenson’s journey into the mortgage industry began with a strong foundation in banking, having worked for BNZ before transitioning to a mortgage advisory role in 2015.
From a relationship manager at a small firm, a role she held for six months, she launched MyLend seven years ago, and has never looked back since, growing her team to four dedicated professionals.
“I had a good idea of the industry as a whole,” Laurenson says, reflecting on her beginnings.
Balancing motherhood and a burgeoning career, she found her rhythm.
“It worked out beautifully as I had flexibility within my working day,” she says.
Positive shifts in the industry
Laurenson is optimistic about the developments in the mortgage broking sector, particularly the transparency and compliance aspects. These changes, she believes, ensure that “we are all working to the same parameters and client needs are put first.”
This environment has fostered a growing confidence among New Zealand clients towards engaging with mortgage advisers, a trend Laurenson finds encouraging.
Facing industry challenges
However, the journey is not without its challenges. Laurenson points to rising interest rates and poor budgeting practices as hurdles facing many families today.
“Credit cards, store cards, BNPL have really caused havoc in weekly spending,” she says.
Her solution? A return to basic, “old school” budgeting techniques.
“Simple changes like paying your bills in line with when your income is paid... simple money tasks that we take for granted,” she says, emphasising the need for disciplined financial planning.
A memorable client story
Among the many clients Laurenson has helped, one story stands out. She recounts assisting a client who was struggling to finance a self-funded build and dealing with a damaged credit rating due to an ex-partner’s malfeasance. By securing funding through a second-tier lender and patiently rebuilding his credit, Laurenson not only salvaged his project but profoundly changed his life.
“We were methodical and kind and found him a solution when he was completely backed into a corner,” she says.
Advice for aspiring advisers
For those interested in mortgage advising, Laurenson offers straightforward advice: maintain humility and a willingness to learn.
“Don’t have an ego, be humble, and be prepared to ask for help from other advisers,” she says.
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