Sydney-based principal mortgage broker and NSW Justice of the Peace Nicole Shuang Zhao says the industry's growing compliance burden shouldn't be met with more paperwork, but with smarter systems that let brokers spend less time on admin and more time applying professional judgement.
Zhao's path into broking started when she bought her first home in 2021. Working with a broker, solicitor, and conveyancer who guided her through the process gave her the idea to do the same for others.
"That experience planted a seed," the 2025 and 2026 5-Star Broker said. "I realized that if I could become that kind of knowledgeable, thorough professional for others, I could help people navigate what is often the most significant financial decision of their lives."
That early experience led her to found Eversong Finance, where she now practises as a sole operator.
Asked about the industry's biggest current challenge, Zhao points to two pressures colliding at once: a rising administrative burden from regulatory obligations and Best Interests Duty compliance, alongside increasingly sophisticated scams and fraudulent documents enabled by fast-moving AI tools.
Her proposed fix isn't more red tape, but better-connected infrastructure.
"I would like to see greater standardisation and interoperability across lender, aggregator, and verification systems," she said. "Better use of digital identity, secure data sharing, and automated cross-checking could reduce repetitive administration while strengthening fraud detection."
The goal, Zhao says, is precision rather than volume.
"The goal should not be less scrutiny, but smarter scrutiny, allowing brokers to spend more time applying professional judgement and supporting clients," she said.
Even as she calls for more efficient systems, Zhao maintains a deliberately hands-on practice herself – meeting every client via video or in person and manually cross-referencing documents rather than relying solely on automated checks.
"I want clients to do more than simply trust the process," she said. "I want them to understand why a particular strategy or product has been recommended and how it serves their interests."
That balance – pushing for industry-wide efficiency while keeping personal diligence at the centre of her own practice – reflects what she sees as the profession's real value proposition: not just access to lenders, but a professional who understands a borrower's full circumstances.
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