We recently sat down with Wade from Active Finance, a bespoke mortgage broking business in Newcastle that’s been operating since 2016. Wade shared his journey, insights into the finance industry, and advice for those looking to succeed in the dynamic world of mortgage broking.
Can you tell us a little about your journey in the finance industry?
“My career has been diverse. After studying commerce and finance at university, I started in property tax depreciation, working as a business development manager for over 10 years. These experiences shaped my ability to provide holistic solutions, particularly for self-employed clients.”
How has lending changed since COVID?
“Post-COVID, the banks have focused on speed and efficiency. Processes like electronic signing became standard, even for the more traditional lenders. On the flip side, higher interest rates mean lower borrowing power for most clients, but lenders are loosening some policy requirements to stay competitive.”
What’s the biggest challenge for mortgage brokers right now?
“Borrowing power is the key challenge. With high rates and lower rental yields, it’s harder to meet clients’ objectives. Compliance also takes more time, but it ensures we’re doing the right thing for our clients and getting their applications approved efficiently.”
What advice would you give to someone new to mortgage broking?
“Resilience and problem-solving are essential. Every loan is like a project, and roadblocks are inevitable. Shadowing an experienced broker can provide invaluable real-world experience, which complements formal qualifications like the Certificate IV or Diploma in Finance.”
What’s a good starting point for aspiring brokers?
“Related roles in sales, admin, real estate, or financial planning are great foundations. These build skills in networking, rapport building, and understanding clients—key traits for a successful broker.”
How can brokers stay up to date with industry changes?
“Industry publications like The Adviser are fantastic, and organisations like MFAA host events that keep brokers informed. Aggregators are also a key resource, as they stay on top of changes and share updates with brokers.”
Wade’s insights highlight the adaptability and expertise required to navigate the ever-changing finance landscape. A big thank you to Wade for sharing his advice and experiences!
If you’re looking to make your next career move or need recruitment support for your team, Alan Kinder, Senior Consultant at GWG Recruitment, is here to help. Reach out to Alan on 0249 050 130 to explore opportunities in accounting and finance.
Watch our full video with Wade below.
