Moving into financial advice a ‘no brainer’ says mortgage broker

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Is diversification for you? This mortgage broker is now taking a slice of the mortgage and advice pies.

As Mortgage Choice announced the opening of its first financial planning franchises, Sydney-based Fairien Azeem explained why she decided to go down the advice route.

“For me, investing in a Mortgage Choice Financial Planning franchise was a no brainer. After 14 years with Mortgage Choice as a franchise owner, I knew the support, training and technology, together with the compliance framework, would be industry best-class,” she said.

“Moreover, my customers trust the Mortgage Choice brand, so moving my financial planning business under the one brand made perfect sense."

Having spent 14 years as the co-owner of a mortgage broking franchise, Azeem decided to gain her financial planning qualifications and open up a separate financial advice practice. She now works in alliance with her original business partner, her husband, who continues to run their mortgage broking franchise.

Azeem’s practice is one of two Mortgage Choice Financial Planning franchises to have now opened their doors.

Brisbane-based financial adviser Kayla White set up the other practice, having built up a relationship with an existing Mortgage Choice broking franchise – where she looked after risk insurance, superannuation and investment referrals. She was then approached to become an equity partner.

Having worked in the industry for 10 years, White was eager to open her own practice, and decided that the time was right to take the plunge.

“It's fantastic to be working in a franchise system alongside mortgage brokers – helping ensure our customers protect themselves as they increase their debt levels. It's our duty of care,” she said.

“I am also really excited about working with clients to provide the type of advice they need relative to the life stage they are at. I am passionate about making financial advice accessible to younger people.”

A new generation

According to Mortgage Choice Financial Planning GM Tania Milnes, the company’s financial advisers are already benefitting from  a strong lead flow from the mortgage broking side of the business – as well as a steady stream of risk insurance enquiries from its comparison website.

The mortgage broking giant plans to open 10 financial planning franchises to test its systems, processes and proposition, before a full roll-out of the advice brand in July next year.

“Our adviser recruitment criteria is stringent and we are being very picky. We want new generation advisers who share our ideals and passion. People who embrace the post-FoFA world and inherently have their clients' best interests at heart,” said Milnes.

“Professional advisers with solid experience who appreciate the support we provide for both their business and their professional development."