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Changes in technology are altering the landscape of mortgage broking for this Liberty adviser.
Before Keith Vayne joined Liberty Network Services (LNS), he had been looking for ways to increase his sales and business profitability without creating too much back-office work.
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“The paperwork involved in growing my business was quite tedious, especially when trying to finalise a loan and provide information to my clients,” Mr Vayne said.
“This was an extremely time-consuming and draining process for both myself and my clients.”
Mr Vayne spent an average of eight hours on a single sale from start to finish – but all that changed when he began working with LNS.
The major benefit of being an LNS adviser is the proprietary Liberty technology SPARK – an easy-to-use iPad solution that has saved advisors such as Mr Vayne so much time that he’s now able to run his business from the front seat of his car.
“As a travelling adviser who has many hours of downtime in-between clients, SPARK is great. I can access my contacts, calendar, leads and post-settlement details remotely, any time,” he said.
SPARK also enables advisers to scan all the necessary supporting loan documentation – including payslips and identification – during appointments.
As the entire process is digitalised, there is no laborious handwriting or time-wasting involved, and loans are processed at a faster rate.
“What’s great about SPARK is that it reduced the back and forth typically expected in financial applications and gives you the opportunity to close a deal quickly,” Mr Vayne said.
“The time taken to finalise an application is at least 30 per cent more time with most other mortgage brokers. If the process is drawn out over days and weeks, you risk the client losing interest or being approached by a competitor.
“Following the right process and filing the right documentation to remain compliant can be time consuming, but it’s got to be done and done right. SPARK enables me to complete all the relevant forms quickly and efficiently.”
As Mr Vayne spends most of his time on the road, he employs two office staff to help run the business.
“Using SPARK has been fantastic as I’m able to stay updated with the business and my staff while I’m away and vice versa,” he said.
“The legacy systems and technical support response times of other providers can hold advisers back in some ways. LNS is nimbler so it has the ability to be more adaptable when it comes to software changes.
“LNS is able to make changes quickly, with the technical support team even making changes to accounts in SPARK while I’m speaking to them on the phone. I’m pretty confident you wouldn’t get that with anyone else.”
Mr Vayne predominately writes commercial, prime and custom residential loans. However, he intends to focus more on motor lending this year and he is looking to LNS for additional leads.
“LNS not only provides leads to its advisers, it also gives me fantastic marketing support,” he said.
“With an active social media presence, sponsored radio segments and lots of paid advertising, Liberty has a great audience reach. As a broker, this is fantastic as it helps me promote my services.”
If you are interested in becoming a Liberty adviser, visit liberty.com.au or call 13-11-13.
