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CRM updates, updated broker tools, and expanded recruitment support are key priorities for the major brokerage this financial year, according to the executive chairman.
Speaking at the Loan Market Group’s annual Scale-Up Conference in Hamilton Island on Monday (7 August), LMG executive chairman Sam White revealed new priorities and the strategy for brokers operating under the Loan Market brokerage and LMG Partners model (two of its three new broker offerings).
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According to Mr White, a suite of new productivity-focused additions to the client relationship management system, MyCRM, will be delivered to those signed up to the Loan Market and LMG Partner offerings.
These include providing an integrated view of clients for brokers across all lending types (residential, asset, and commercial finance) and integrations of expense and income categories from source documents into applications.
Mr White said that the group was also investigating MyCRM’s integration with specialist third-party software solutions to help brokers predict cash flows and better manage clawbacks and was “committed to implementing the industry’s leading cyber security strategy” and engaging lenders in the digital transformation.
He said: “The ability to unite a quality broker with good technology is going to be critical in the future, with digital lending and open banking changing our ecosystem.
“We’re working on better reporting, better pipeline management and automation, and integrations of expense and income categories from source documents into application which will save brokers a lot of time.”
On the productivity side, Mr White revealed that Loan Market’s in-house recruitment specialists TalentForce would also be expanded to help brokers find and retain the right staff.
According to Mr White, TalentForce recruited 126 loan writers and 329 support staff for businesses, saving owners $2.27 million in advertising and time.
“I want to build on this service to help business owners map, profile and match potential employees,” he told delegates.
“I want business owners to spend less time on HR admin and more on developing their people and business.”
Alongside Loan Market’s broker success managers, who partner with businesses in ongoing growth strategies, Mr White also told conference attendees that specialist business coaches would be recruited to propel the growth of brokers.
In addition, Mr White said that Loan Market was also building on its lead generation activities – suggesting that while over 60,000 leads were provided to brokers through multichannel marketing last year, this was estimated to grow by 15 per cent over FY24.
He highlighted that brokers needed enhanced tools and strategies to stand out in the market.
“The hero in Loan Market has always been the broker, not the logo,” said Mr White.
“We’ll champion our brokers in their local markets through targeted social media, winning the Google local search, face-to-face seminars, and community engagement.”
You can find out more about Loan Market and its broker offerings in the The Adviser Podcast Network episode, In Focus: The payroll tax issue, here:
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