Stephen Moore talks to Australian Broker about the different kind of support that brokers require from their aggregator now.
Video transcript below:
Reporter: After a very profitable year for Choice, we caught with Stephen Moore at the MFAA for his outlook on the next 12 months.
Stephen Moore, CEP Choice Aggregation Services
Stephen Moore: Our trajectory is still very strong. You know what we are finding now is more brokers choosing to join Choice and you know it’s primarily due to our proven support model, it’s something that you know we spend a lot of time focused on. You know unluckily as all markets progress you know consumer expectations become greater and we need to shift towards more advice based conversations than transaction only.
Reporter: So what do brokers want from their aggregators now?
Stephen Moore: Certainly the feedback we get is, brokers are looking for an aggregator to spend the time to really understand their individual business needs and really listen to their needs to then provide them with the right advice and then tailored support and what we are finding is quite a shift in broker expectations.
You know what was about maybe some software and a bit of technical support, the key trend in shift is towards business management focus, help me grow a more successful business and yeah that’s really lion’s share of our growth is coming from the work we have been doing with existing members on helping grow their business and in many cases now, it’s around you know how to set up the right business, business plans, recruiting in staff, recruiting in loan riders, how to manage financials, how to embed CRM, you know proper business to business functions.
Reporter: Moore feels that brokers are more in touch with the kind of support they need in order to achieve their business aims.
Stephen Moore: Well certainly what we are seeing with a number of our brokers is a recognition that if I just keep doing what I am doing, that’s primarily my head, I can run a good business, but to take it to the next level I need more and you know that’s the reason why we are also looking at Choice Home Loans. There is a recognition of many brokers around the importance of having a systemised approach, stuff that’s not in my head is all well documented with having a business system.
The recognition that you know I need a strong brand behind me to drive my presence, I need marketing but I am not really a marketer. I need online presence and frankly I wouldn’t know where to start, I am looking for groups to provide that level of support, there’s been 165 brokers who have joined Choice in the last period and 22 in Choice Home Loans, so you know brokers are certainly voting with their feet, but what is a key part of their business is about Choice and you know we recognise that you know whether a broker wants to have their own brand and there is certainly you know lots of merits in doing that, whether they choose to join one of our existing groups and again there is various benefits in doing that.
Well they choose Choice Home Loans you know frankly we are pretty much agnostic, if what we are focused on is you know helping the individual business to understand you know what’s important to them where they are going and they could tailor up the right support in that business model to realise their business growth.