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Simplicity Loans & Advisory settled more than $2 billion in the financial year 2024, with its managing director settling $1 billion in the year.
Commercial brokerage Simplicity Loans & Advisory has announced that it has achieved a record of settling $2 billion in loan settlements in a single financial year.
The brokerage – headed up by joint managing directors and brokers Jean-Pierre (JP) Gortan and Matthew Johnson – revealed it had surpassed its previous annual record of $1.35 billion in FY24, partly due to a strong settlement year from the broker principal and partly due to the brokerage harnessing technology to work more efficiently.
Gortan - who was named Commercial Broker of the Year 2023 at the Australian Broking Awards 2023 - also marked a personal milestone of settling $1 billion during FY24.
The $1 billion consisted of a mix of different financing types. Approximately 25 per cent were construction loans, 60 per cent were term loans for future developments and stabilised investments, and the remaining balance involved trading businesses.
It included a “complex” $258 million transaction in the year. The aged care deal involved four separate lenders, three operational centres, and two developments – one future and one currently under construction.
Simplicity, which has staff and offices in three states, has now settled over $5 billion in commercial volume since its inception in 2017. It ranked in ninth place in The Adviser’s Top 25 Brokerages ranking 2024.
The commercial broker said his $1 billion milestone would not have been possible without “the dedication and hard work” of his senior commercial associate Joshua Diab.
Speaking of the settlement achievement, Johnson, joint managing director said: “JP and Joshua are outstanding brokers and their ability to solve complex lending needs is second to none.”
“With that said, this would not be possible without our heavy investment in technology to support our brokers to be the best in the market. Our tech stack enables them to achieve more every day by working more efficiently and effectively,” he said, adding that the solutions had “streamlined processes, enhanced productivity”, which enabled the team to “deliver exceptional service to our clients”.
“Our tech stack includes proprietary workflow tools developed in partnership with Sprnt. This platform integrates a large number of data points, deal structuring, and analysis tools into an easy-to-use portal. It facilitates the dissemination of information, lender feedback, and secure data transmission between us, clients and lenders,” he told The Adviser.
Ryan Nelson, the general manager of Simplicity Loans & Advisory, said: “We are immensely proud of JP’s and Joshua’s outstanding accomplishments.
“Their dedication and expertise have been instrumental in reaching this significant milestone. This success reflects not only their efforts but also the unwavering commitment of our entire team.”
[Related: How the Commercial Broker of the Year 2023 built his business]
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