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The former national manager of mortgage innovation at Commonwealth Bank has been appointed as the new managing director of a boutique financial services provider.
Wayne Keating will lead Kingston Capital Services in a newly created role of managing director of mortgage and finance, where he will be responsible for assisting brokers with the dynamic changes faced by the mortgage industry, specifically within the aggregation space.
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Mr Keating told The Adviser that one of his biggest goals in this new role is to find the synergies between mortgage brokers and the broader Kingston Capital offering.
“Our brokers can operate under the Kingston Capital label but personally I’d actually encourage brokers to adopt their own labels and their own personal brands. That means down the track they can continue to develop their own value within the industry as well,” he said.
Mr Keating said Kingston Capital can work with all brokers, regardless of their experience.
“Given the broad spread we’re ideal for brokers at all levels,” he said.
“Existing brokers can grow their business through leveraging off the diversity of the Kingston Capital Group. For really established businesses we can get involved in the succession planning – that’s another specialised area of the Kingston Capital business.
“We’re also really good for new-to-industry brokers because with the rack we’ve got we can bring those guys through and give them the support and mentoring to get started.
“Essentially, we’re looking at building a menu-style arrangement where we sit down and say ‘Here’s the menu'. You can come in at a base level and we’ll give you everything you need or you can come in at a very high level where if you’re very experienced and established we’ll simply just give you that succession piece to finish up or tidy up where the business is at.”
Mr Keating added that Kingston Capital Services can help brokers when it comes to referrals.
“A broker that is in that current referral model, if they want to improve their revenue, we can actually provide them with the opportunity to improve their revenue and continue with that referral support,” he said.
Currently Kingston Capital Services has a dozen brokers, with plans to expand this to 30 by the end of 2016.
“What we’re keen on making sure that we don’t lose the value by growing too big,” Mr Keating said.
“We’re looking to be a genuine partner. We certainly don’t want to be an aggregator. The integrated advice model is around accounting, financial planning, broking and even real estate.
“We want to be the type of group where somebody would come along to me and say 'Here's what I need' and I say 'There's nothing we can't provide. Providing you provide the quality, we can provide the support'.”
[Related: Loan Market to boost brokers online presence]
