Smith decided to focus on mortgage advice after being in financial services for 13 years
As a student at Loughborough University, Adam Smith admits that – like many students - his focus was on gaining life experience and having fun rather than attaining top grades.
During that time, however, his passion for finance and understanding its workings grew steadily. He even ventured into entrepreneurship by starting a nightclub promotion business, which consumed much of his time and interest.
Driven by his curiosity about money, its creation, and its impact on the economic environment, Smith (pictured) embarked on his journey to get into the mortgage industry after graduating in 2009 with a degree in industrial design and technology.
Getting into the industry
Smith first took on a contracting role, reviewing investment complaints for Santander through a recruitment company. To excel in the position, the recruiter advised him to pursue professional qualifications in investment advice and mortgages.
“I took their advice to heart and obtained both the DipFA and CeMAP qualifications,” he related. “Over the following six years, I secured further contracts with prestigious firms like KPMG, Deloitte, RBS, and Lloyds Commercial Bank, expanding my knowledge and expertise in the industry.”
Smith was then recruited by St. James’s Place and joined the financial advice firm in a risk and compliance capacity, where he spent five years. He said the role allowed him to delve deeper into financial and mortgage advice, as well as gain insights into how advisory firms generated business.
“The experience fascinated me and stirred my excitement,” he added. “I forged a strong working relationship with a firm that specialised in mortgage business, and through detailed investigations, I uncovered valuable information about their origins, client acquisition strategies, and annual revenue.”
In August 2021, Smith accepted the position of head of advisory compliance at a UK fintech startup in London.
“My time there was instrumental in expanding my knowledge of technology and its transformative capabilities, as these companies prioritise technology as a foundation for their operations, with financial services being a close second,” he explained.
“I discovered how technology can streamline processes and significantly improve efficiency within a business. This newfound appreciation for technology became a driving force, and it continues to shape my approach to business today.
While heavily involved in the authorisation process for the fintech firm to operate as an independent financial advisor (IFA), a thought struck Smith.
“I had been working in the industry since 2009 and had amassed a vast network of contacts that offered financial advice, but not mortgage services,” he realised. “Mortgages, unfortunately, tend to be undervalued due to their lack of recurring income compared to ongoing advisory fees.
“This realisation prompted me to establish a firm that focused on mortgage advice. As fate would have it, one evening while enjoying dinner with my wife at a pub, the concept of Alfa Mortgages was conceived.”
Founded with nothing but his 13 years of industry experience, Alfa Mortgages represented a culmination of his expertise and passion for the mortgage industry, Smith said.
Motivation to continue as a broker
Smith shared that his primary motivation stemmed from the immense joy he witnessedd when clients receive their mortgage offer.
“This is especially true for first-time buyers or individuals facing specific challenges that could potentially hinder their mortgage approval,” he said. “Assisting people in achieving their dreams of property ownership is a fulfilling aspect of my role, particularly as it becomes increasingly difficult to navigate the housing market in the UK.
He also finds the diversity of cases he encounters as an invigorating aspect of the job, but ultimately, his motivation lies in witnessing outstanding customer outcomes.
“Whether it’s the satisfaction of clients settling into their new homes or the delight they experience when they realise substantial savings on their investments, their happiness and success drive me forward in this rewarding profession,” he explained.
Looking to the future
One of Smith’s foremost personal goals is to expand and elevate the reach of Alfa Mortgages’ YouTube channel, where it provides educational content on all aspects of mortgages in the UK.
“Our ultimate aim is to provide users with an exceptional viewing experience and the answers they need before even considering booking an appointment with a broker,” he said.
Smith added that he was also dedicated to continuing his personal growth and development by fostering and nurturing his professional network.
“I firmly believe in the power of surrounding oneself with high-calibre individuals, as we are often influenced by those we spend the most time with,” he stated. “Thus, I seek to surround myself with fellow entrepreneurs who share a passion for personal growth and serve as valuable sounding boards. Collaborating with like-minded individuals allows me to continually learn and expand my horizons.”
Smith continues to have ambitious goals for the future of this business.
“I aspire to establish Alfa Mortgages as a trusted and reputable name in the mortgage industry,” he shared. “By providing exceptional service and expert advice, I aim to cultivate a loyal and satisfied client base.
“Looking ahead over the next few years, my overarching ambition is to foster significant growth within our practice by expanding our team of advisors. Our vision is to establish Alfa Mortgages as a distinguished multi-adviser practice, with our experts strategically located across the entire UK.”
Smith also plans to leverage technology to enhance the company’s operations and deliver a seamless customer experience.
“Exploring innovative solutions and integrating cutting-edge technology will allow us to streamline processes, improve efficiency, and stay at the forefront of the industry,” he expounded.
“Ultimately, my vision for the future involves continued growth, expansion, and a commitment to excellence in both my personal career and the success of Alfa Mortgages.”
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