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One fast-rising brokerage has taken the first steps to creating its own franchise group in the Chinese community.
Alliance Mortgage Solutions director Eric Cui said he and his partners had started taking legal advice about setting up their own network.
The Sydney firm, which was launched at the start of 2013, derives about 85 per cent of its volumes from Chinese clients – 30-35 per cent of which are foreigners and 50-55 per cent of which are locals.
Mr Cui said mainstream Australian borrowers gravitate to big names like Aussie Home Loans and Mortgage Choice, which is why Alliance wants to create something similar for the Chinese community.
Brand recognition would make it easier to attract new clients and talented staff, he told The Adviser.
The plan is to open five or six branches in Sydney and then possibly expand into Melbourne, Brisbane and Canberra. The franchise is expected to launch in late 2015 or early 2016, he said.
Mr Cui said Alliance currently writes $30-35 million of loans per month and hopes to reach $50 million a year from now.
Alliance is ranked second on Vow Financial’s national leader board, while Mr Cui and fellow director Donald Tang are number two and three respectively on the NSW leader board.
Mr Cui was also named Best Newcomer at the NSW Better Business Awards in February.
Mr Cui said the 10 brokers at Alliance were very ambitious and work very long hours.
“All the staff in our company are very young. We have lots of energy. We only have one target: to be number one,” he said.
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