Specialise, don’t diversify, claims Broker of the Year

by Caroline Dann16 Oct 2012

The AMAs’ 2012 Broker of the Year, Mark Davis, has revealed a lack of aggressive marketing, and a focus on specialisation, not diversification, is a key component of his success.

“We don’t advertise, we don’t market and we have a very limited web page,” he told Australian Broker Online.
“It’s about clients finding us. We have clients who know what they’re doing when they walk in the door.”
Davis won Broker of the Year for a second-time running this year. 
His business, Australian Lending and Investment Centre, has a “specialist focus” which he claims is now crucial for success.
“I believe in specialisation. I believe in being great at what you do, knowing where your limits are and bringing specialists in around you. 
“We could make more money by cross-selling and doing different things, but that’s not the space we want to play in,” he said.
“It’s very investor-driven. It’s around creating opportunities for clients, opening doors for them and creating net wealth for them. 
“It’s really just improving a client’s circumstances and doing the right thing every time. We don’t believe in loan writing. We don’t believe in selling a product. We believe in seriously looking after clients the way you’re supposed to.”
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  • by 1martym1 16/10/2012 9:52:13 AM

    hear hear

  • by john_t 16/10/2012 10:05:38 AM

    Specialisation is all very well and good until that particular sector (eg investors, first home owners) has a downturn. Arguably you're increasing your business risk by i) relying on overall lending activity and ii) activity within a certain sector.

    I believe diversification makes your business and it's revenue more resilient and predictable and therefore more valuable, but each to his or her own.

  • by Moonae 16/10/2012 11:01:10 AM

    Refreshing. Nice to see that there are others who share my view. I am a Finance Broker and financial planner but I know there are better planners than me. One stop shop sopunds like a good concept but invariably people are better off taking a best of breed approach. if you can be good at what you do but also be a strong hub for referrals to other great professionals who do the same, I think you can increase your revenues the right way with a strong network approach. The best in the business do it this way.