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NAB-owned wholesale funder Advantedge Financial Services has announced the appointment of a new general manager, replacing former GM Brett Halliwell.
Adam Brown has been formally appointed as the new general manager for Advantedge, replacing Brett Halliwell. Mr Brown has been the acting GM since last year but has now formally taken on the role.
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Mr Brown has 20 years of experience in the banking and finance sector and has spent over a decade at the NAB group, taking on roles including head of business engagement consumer products and head of product change and delivery.
He has spent the last seven years working within the Advantedge business, previously taking the roles of head of business operations and head of broker sales, prior to coming on board as general manager of Advantedge.
Mr Brown takes over the role from Mr Halliwell, who held the position for more than 10 years.
Mr Halliwell’s new job title is yet to be formally announced. However, according to NAB, he will be taking on a new role that focuses on adapting the businesses to the ever-changing regulatory landscape, as well as undertaking work on a “number of third-party projects”.
NAB’s executive general manager of strategy, transformation and enablement, Anthony Waldron, welcomed Mr Brown to the role and thanked Mr Halliwell for his service to Advantedge.
“Adam’s appointment comes at an unprecedented time where expert guidance is more important than ever, and his in-depth knowledge of white label mortgage products will continue to support positive outcomes for brokers and their customers well into the future...
“I would like to thank Brett for his invaluable and longstanding contribution to Advantedge and our white label offering,” Mr Waldron said.
Commenting on his appointment, Mr Brown said: “We remain focused on making it simpler and easier to do business with us and on supporting brokers and customers during these increasingly complex and uncertain times.
“The range of enhancements being introduced will further streamline broker processes and provide more value and support to both brokers and their customers.”
In addition to the new appointment, Advantedge has announced that it is offering eligible customers a repayment holiday on their home loan, for up to six months. This follows similar moves from other lenders, given the economic stresses caused by the COVID-19 pandemic.
Mr Brown noted that brokers will continue to receive their trail commissions from Advantedge loans, even if the borrower’s repayments have been paused.
Additionally, the wholesale funder has reduced its variable home loan rates by 10 basis points for both new and existing home loans, resulting in a combined 35 basis point reduction in variable rates throughout March.
In response to broker feedback, Advantedge has also introduced a simplified fee structure, which removes the annual fee and a number of post-settlement administration fees, and has released a range of digital enhancements to assist brokers “adapt to the new operating environment”. These include the implementation of digital signing technology (e-Sign), made available via Loanapp and developed in partnership with DocuSign. This aims to provide an end-to-end digital loan submission process for brokers.
Amid COVID-19 social distancing restrictions, Advantedge has also launched a digital remote verification feature available via MSA National’s IDyou app, which allows brokers to virtually verify their client via video. NAB has also announced a new, compulsory VOI policy this week, given the COVID-19 pandemic.
“We continue to invest in improvements to simplify our offering and enhance our digital capabilities to make life easier for brokers and their customers at a time when they need it most,” Mr Brown concluded.
[Related: CIF welcomes new co-chairs]
