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Mortgage brokers face the challenge of standing out in a crowded market while serving their existing clients and attracting new ones. In this regard, Liberty Network Services (LNS) offers a unique value proposition.
Brendan O'Donnell, managing director of LNS, emphasised the importance of building a strong brand and reputation in the local community to differentiate oneself in the market.
“We recognise the growing need for marketing and sales initiatives that break through the clutter and solidify an adviser’s position in their local market. Building a brand with a good reputation that their local community will recognise will help an adviser’s business to carry them forward,” O’Donnell said in a recent conversation with Australian Broker.
While some may question the staying power of a boutique aggregator like LNS, O'Donnell said that adaptability and finding a niche are key factors for success, rather than sheer size or aggression. Since its inception in 2012, LNS has focused on providing exceptional benefits to its advisers and remains a boutique organisation that offers bespoke services, better value, and long-term success for its advisers.
In contrast to larger aggregators where brokers often feel like just a number, LNS takes pride in offering personalised service and celebrating the diverse expertise of its advisers. O'Donnell emphasises that advisers are more than just mortgage brokers, and LNS's boutique size allows for a more focused and agile approach.
The broking industry has experienced significant changes over the past year, with lending trends showing a sharp decline. O'Donnell acknowledged that brokers have had to navigate multiple interest rate changes, impacting consumer sentiment in the mortgage space. In such challenging economic conditions, maximising income and controlling costs become essential for brokers.
However, LNS recognises that adaptation to the post-pandemic lending landscape requires more than just financial management. Understanding customers' needs and diversifying solutions across different lending areas, including home, commercial, SMSF, business, and personal lending, presents significant opportunities for brokers to increase their income. LNS places a strong emphasis on diversification to mitigate risk and explore new income sources beyond residential lending, such as commercial property and SMSF loans.
O'Donnell said that LNS is committed to supporting brokers at all stages of their career and investing in various aspects of their daily business operations. As the Reserve Bank of Australia continues to address inflation by raising interest rates, LNS's investment is expected to benefit its network of Liberty Advisers.
Looking ahead to the second half of 2023, O'Donnell expressed confidence in LNS's national network of advisers, who will continue to educate, support, and guide existing and new customers in their financial endeavours.
“With a branded distribution model, LNS offers bespoke service, better value for customers, and sets advisers up for long-term success. The conscious choice to remain a boutique organisation brings many advantages over competitors and allows us to adopt a more focused and agile approach,” O’Donnell said. “Advisers are more than just mortgage brokers, and because of our boutique size we are better able to celebrate this.”
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