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Australia’s top young brokers gathered in Sydney on Friday to celebrate The Adviser’s Young Broker of the Year 2013.
Citi, together with The Adviser, hosted a luncheon for the 30 top brokers aged under 30 to celebrate their success and discuss the future of the industry and the importance of attracting 'young blood'.
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Citi’s head of broker distribution, Aaron Milburn, said the top young brokers are the custodians of the industry of the future.
“It’s a proven fact and a well-known fact that our industry is aging and that’s a concern for everyone. Today is a great opportunity for us to get to know the people who are going to be taking forward our industry in the future,” he said.
According to Mr Milburn, it is important lenders support new entrants to help them become better brokers.
Citi offers brokers direct access to credit officers, which Mr Milburn said can help young brokers acquire the skills to better serve their own client base.
“If you’re a young broker entering our industry, what better model is there than having direct access to a credit officer looking after your deal?” he said.
“Two things happen with that: firstly, you really understand what’s needed on that deal to get it through for your client and to provide that first class service that’s going to build your referral network.
“Secondly, and perhaps more importantly, you receive that ongoing coaching form the credit officer on how to structure a deal.”
Young brokers face additional challenges in an industry that is based on trust and experience. However, James Chatfield, the nation’s top-ranked broker under 30, said age is no barrier to success in broking.
“As long as you’re there, you know what you are talking about and you present yourself extremely well, clients are very receptive,” he said.
Matt Cunliffe, who placed third in the Young Broker ranking, said operating with a young team has actually been a huge advantage for his business.
“In our office, I’m the oldest broker at 27. Being in a young environment all the time, we strive to provide excellent customer service. I think we might be a bit more savvy than the older guys, and there is a lot of drive amongst the younger brokers in the industry”.
“In a changing environment you need to have the ability to adapt and change with it. If you try to stick in your ways you are not going to grow with the environment; you’ll stay stagnant and you might not be able to continue climbing the ladder.
“We look for ways to change, we are not adverse to change, we go after change and reap the benefits that go with it,” Mr Cunliffe said.
