John Minihan’s (pictured) career spans more than four decades – starting in traditional banking and evolving into one of Port Macquarie’s most respected mortgage brokers.
From his early days at the Bank of NSW to founding his own brokerage, Minihan has remained committed to serving clients with integrity, empathy, and a long-term view.
Minihan’s journey into the mortgage broking world started long before he wrote his first loan.
“My career started in the Bank of NSW (later Westpac) in 1980 at Taree, then Ballina, Coffs Harbour, Sydney CBD, and then up to Port Macquarie in 1994 as the business bank manager, where my wife Julie and I started our family,” Minihan said.
After more than two decades in banking and a short stint in international marketing, Minihan launched his broking career in 2002 with Lawfund Finance. By 2006, he had co-founded Professional Finance Mortgage Brokers, and later joined AFG in 2009.
“We have established an office with a good presence in the Port Macquarie CBD and have good relationships with the other main mortgage brokers in town, accountants, and solicitors and conveyancers,” he said.
Despite the challenges compliance can bring, Minihan sees it as a vital part of professionalising the industry.
“I think the most positive development in our industry in recent times, as much as we all curse it, is the best interest duty and additional compliance,” he said. “It has forced the cowboys to come into line (or to go and find a different job) and has absolutely given us a real point of difference and credibility to the major banks that we are competing with in regional areas.”
Minihan believes the changes have made it easier to demonstrate value to clients.
“We’ve always clearly explained how we get paid and when we add in the explanation of the best interest duty, it ensures that the clients know we are working for them and that our services to them really are free of charge,” he said.
Looking ahead, Minihan is concerned about the potential impact of digitisation on the broking profession.
“I think the biggest challenge facing our industry is the digitisation of the application process and the ability of the banks to make the process simple and quick enough for a bigger share of the market to undertake the process themselves rather than use brokers,” he said.
Minihan acknowledged that while larger broker groups may adapt, “the smaller brokerages and one person operations will struggle.”
Still, he’s hopeful that personal service will continue to matter: “I’d like to think our clients would prefer the personal, one-on-one service that we provide and the assurance that we will always do what is best for them.”
Minihan finds the greatest reward in helping those who need it most, especially when they don’t have someone else to turn to for advice.
“I really enjoy looking after clients that desperately need an honest, experienced person to do the hard yards,” he said.
Minihan recalled helping a single mother of six secure a modest home.
“Twelve months later, I got an email with a photo of her smiling kids saying, ‘This is what you have done for us, we now have a place to call home,’” he said. “Sometimes the most rewarding deals are small ones for people that will be forever grateful and you can honestly say you have helped improve their lives.”
To those entering the industry, Minihan urged patience and integrity.
“Don’t see it as a transaction, or a sales activity, but see it as the start of a relationship and treat the client accordingly,” he said. “If you do the absolute best by the client, you’ll make more money over the longer term rather than focusing on a quick buck now.”
Minihan also cautioned new brokers to pick their battles and trust their gut.
“With a difficult scenario, I’ve often used the yardstick of ‘would I lend them my own money.’ If the answer is yes, then it is worth fighting for… but if your gut is uneasy, then the right decision might be to advise the client you can’t assist,” he said.
While the industry evolves and new challenges emerge, Minihan remains grounded in his values – and is looking forward to life beyond lending.
“I’m nearing the end of my career, so it might just be a matter of making the most of the current good times and do more caravanning over the coming years,” he said.
