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Mortgage brokers are in the perfect position to tap into the burgeoning SME market by helping growing Australian businesses secure funding.
Speaking to The Adviser, Suncorp Bank national manager of small business and commercial banking intermediaries Robynne Frost said that brokers keen to diversify into business lending should invest the time to educate themselves about the SME sector and become comfortable with having discussions about SME lending solutions with their client base.
“Approximately 30 per cent of our home loans are for self-employed borrowers, which highlights the opportunity for our broker partners to cross sell,” Ms Frost said.
“The important part for brokers is to have the confidence to have exploratory conversations with customers beyond their personal borrowing needs.”
Suncorp Bank is developing a series of educational forums and workshops to support its broker partners to have a stronger understanding of how to leverage their existing customer base to attract new business and gain SME exposure.
Suncorp Bank is also the platinum partner of The Adviser’s upcoming New Revenue Streams event in Sydney on 27 October and Melbourne on 29 October.
The intensive one-day boot camp will get brokers business fit and ready to launch new revenue streams in their business, generate referrals and create simple marketing strategies to reach new clients that want more.
SMEA executive chairman and Succession Plus partner Craig West will be speaking at the Sydney event, where he'll share his insights about how brokers can specialise in the SME space.
“Most small business owners have affairs that are more complicated than a salary and wage earner with a group certificate and monthly income,” he said.
“There is an opportunity for brokers to specialise in that area and to come out and say ‘We understand small businesses, we understand your income, we understand what you do in terms of taxation, and we can make that work with a loan application’.”
Mr West is a strategic accountant who has over 20 years’ experience advising business owners.
His practice, Succession Plus, is the largest advisory business in Australia focused on business succession and exit planning and now has offices in Sydney, Melbourne, Adelaide and Perth and provides mentoring, advice and strategy for clients looking to prepare their business for a successful exit.
He is also the president of the Australian chapter of The Exit Planning Institute and is currently working on a PhD in business succession and exit planning.
Register today to secure your chance to hear Mr West and others speak. The boot camp is an exciting opportunity to discover how you can quickly and simply build your business to capture new revenue streams and rapidly expand your client base.
The intensive one-day boot camp will get brokers business fit and ready to launch new revenue streams in their business, generate referrals that spread like wildfire among SMEs and create simple marketing strategies to reach new clients that want more.
This is an essential event for all brokers that want to accelerate their business growth and capture more clients by offering more products to those that need your services.
The agenda is packed with a total of seven sessions, including an interactive broker panel where the industry’s top loan writers reveal the secrets to their diversification success.
After a full day of tips and tricks on how to double or even triple your volumes by capitalising on existing clients and boosting new business, brokers will get the chance to hear how to market, present and profit on new revenue streams from the leading product producers in Australian lending.
Networking drinks will wrap up a full day of workshops and give brokers the chance to discuss their next exciting business venture.
Tickets are strictly limited so get in quick to secure yours today! Clickhere to register now.
[Related: One in three mortgages for self-employed borrowers]
