Lee Prior, national distribution executive of ORDE Financial, talked about the key strengths of the non-bank’s value proposition to brokers and why it was important for brokers to partner with the organisation.
ORDE Financial is a new brand to the non-bank space that provides a range of products across the residential, commercial, and SMSF market.
“The main reason that we were established was… our founders thought there was a better way to do things,” Lee said. “One of that being broker contact. That consistent messaging and consistent response. Now, all our brokers have direct contact and not only our sales team, but also our credit team, which also provides extremely good value to the broker.”
Watch more: Inside ORDE Financial – Built for Broker
He said the non-bank helps brokers in a multitude of ways.
“So, the way that we help brokers is not just having a single line of product offering,” Lee said. “We’re big in the education space. We help them through [the] digital journey. We help them with that connection.”
He said ORDE also provides brokers with the much-need credit flow in these uncertain times, especially when there are customers who sometimes give off a little bit of pressure because they’re “uncertain” and “a little bit nervous.”
The non-bank is also big on customer service.
“Sometimes the headlines don’t read very well to support what we're doing in our space, especially around the uncertainty with rate development,” Lee said. “So, having a broker that can actually pick up the phone versus going through emails or missed messages, it's really, really important for us that we provide that customer service, noting that we’re a broker-built business, we’re built for a broker, and having them the ability to contact, contact us at any time is really important for us to help them with their customer journey.”
The ORDE Financial leader said the organisation is also committed to becoming an educator in the lending space – particularly when it comes to diversification.
“For me, it’s one thing to talk about it, but then it's one thing to actually take brokers on a journey through diversification,” Lee said.
“And one of the things that our team work on is that strategic involvement with diversification, because it’s one thing for us to expect a broker’s office to diversify, but that’s assuming they’ve got the time, they’ve got the resources, they’ve got the knowledge to do so.
“And a lot of the time, we’re time-poor and we need to be able to help them understand what diversification is and is that taking them out of their mainstream income being, say, residential mortgages and exposing them to commercial or SMSF lending? But a lot of the time when that happens is that their primary income source takes a hit because they're not able to keep riding that.
“So, that strategic alignment that we talk about, and we'll continue to talk about is either helping them back fill the skill set, keeping them in the skill set, and outsourcing the diversification piece.”
In the coming months, he said the team will be talking about what they are bringing to the table – are they helping brokers with their referrers or with their customer base, and are they helping brokers diversify their business or with education front of mind?
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