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A NSW broker quadrupled his business after changing aggregators and is encouraging others not to get complacent
Terry Shoesmith of East Coast Finance took the leap and switched to Vow Financial last year and has been reaping the rewards ever since.
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“The business has grown in leaps and bounds and I’ve never looked back since partnering with Vow. In the past year, we’ve gone from one loan writer to three writers, with plans for more support on the horizon.
With the industry-leading training and support we’ve received, the business has gone to the next level,” Terry said.
The switch came about during a business restructure where Terry said the lack of support he received from his previous and he decided it was time for a change.
After going through a very methodical process to find the best market support, Terry made the switch to Vow.
“Vow’s support is miles ahead of everyone else. Over the past 12 months since joining, I’ve received more support than in the nine years with my previous aggregator. From the very beginning we sat down with the team and worked on a growth strategy to drive my business forward. They immediately felt like family and you could tell they really wanted us to succeed,” Terry said.
East Coast Finance has since expanded its services, adding on a variety of products they are able to sell by being part of the Vow network. Terry said the business now sells personal loans and extras such as general and life insurance to better look after the needs of their customers.
The commission structure is one thing that Terry said also attracted him to Vow because of the different options to suit his business.
Vow offers its brokers a flexible choice of commission structures that range from a flat fee, a competitive percentage and a transaction model.
Terry believes the key to his recent success is not letting himself become complacent.
Even with a growing business, he often takes advantage of ongoing training and development programs from Vow, including weekly webinars.
“Many people are not getting the support they need but think it’s too difficult to make the switch.
It’s really important to take your head out of the sand if you want to be successful. Yes, you need to learn new systems but it’s not as difficult as you imagine it to be.
“Really all you need is to take a couple days out of your business routine for intense training on the software program. If you were told that taking a few days o to invest in your business would see you increase your returns tenfold, you’d be crazy not to do it!
“I think any business should do a review of what aggregators are providing every few years. We are in the business of preaching that people need to annually check their interest rate. You should also be doing a regular check of your aggregator. You should ensure you always have the best partner to ensure the best chance of success. We are grateful to have found that in Vow,” Terry said.
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