Q: Who or what inspired you to become a broker?
A: Working for several lenders in the early part of my career taught me an enormous amount about credit, but it also caused much frustration. Many times I was unable to help some of my good clients as I only had access to one lender’s products, which did not suit all customers. It was this frustration that drove me to establish Fox Finance Group and become a broker in 2006. Now I have access to many lenders’ products, and in general I can help more clients now.
Q: What’s been your experience of diversifying your business?
A: The Fox Finance Group business is very well diversified now, with the following business units: Fox Car Loans, Fox Home Loans, Fox Business Loans and Fox Wealth Solutions. What I have learnt in the last 11 years is that one man alone can’t do it all. By partnering with like-minded finance professionals I have been able to achieve a high level of success in our diversification strategy. Separate to the Fox Finance Group I am also a director of a boutique subprime auto lender, UmeLoans.com.au. Our lending business is very complementary to our broking business and allows us to help more clients than just the products offered by traditional lenders.
Q: What do you think will be some of the big challenges for brokers next year?
A: The two main challenges I see in 2018 for brokers are the speed at which we can meet clients’ ever-increasing expectations, and the continuous increase in compliance obligations. We are working with some amazing IT people who are helping us meet these challenges and stay ahead of the competition.
Q: What’s one upcoming activity/vacation/event you’re looking forward to?
A: At the end of each year, I take our staff and partners for an annual Christmas party and conference. In the past, we’ve gone to Phuket, Las Vegas and the Gold Coast. This year it’s a three-night P&O Comedy Cruise. Twenty-two staff and their partners are coming, and I’m sure it’s going to be a blast!
