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Australia’s Finance Broker of the Year focuses on accountants because they are the “key influencers” of clients’ financial decisions.
Greg Wells, from Sydney firm Wells Partners, was named Finance Broker of the Year at this month’s Australian Broking Awards.
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Mr Wells told The Adviser that about 75 per cent of his work comes from accountants.
He said they are “key influencers” because many clients call their accountant first when they want a home loan, an investment loan, a business loan or a car loan.
Wells Partners has 12 staff, eight of whom are based at the main office in Parramatta and four of whom work out of Liverpool accounting firm Business Taxation Concepts, Mr Wells said.
Business Taxation Concepts has a database of 8,000 clients and receives sales training from Wells Partners on how to spot finance opportunities, he added.
Mr Wells said accountants place a high value on brokers who understand how to add value to their client relationships.
“We have some accounting firms that have been around for 30 and 40 years and they’ve dealt with the family and the sons and daughters – so long-term valued relationships, unlike a real estate agent that may have only met the client on a one-off transaction,” he said.
Accountants also value brokers who have broad financial expertise, Mr Wells said.
“It’s no good calling on an accounting firm and saying, ‘I do home loans’, but then when they’ve got a lease or a business loan, ‘No we don’t know how to do that’,” he said.
Mr Wells told The Adviser that he wanted to set up more in-house arrangements with accountancy firms.
He said his Australian Broking Awards success had helped him organise appointments with three potential referral partners.
[Related: Broker of the Year avoids discussing rates]
