Perth brokers find new home with Loan Market

Perth brokerage Do Financial is the latest addition to Loan Market’s Bring Your Own Brand (BYOB) offering, joining the aggregator to further its commitment of ‘empowering and educating’ customers.

Michael and Leila Deegan have also seen the opportunity to expand their business, located in the riverside suburb of Applecross, to the East Coast with the support of Loan Market’s tech efficiencies and network connections.

Taking up Loan Market’s BYOB offering, the couple cited strong synergies between the two businesses.

“The onboarding experience for the client is something that’s very important to us and what Loan Market has created is first-class,” said Mr Deegan.

“From starting the conversation to the needs analysis and looking at the client’s objectives - the digital tools Loan Market has really do help lead that conversation and position a forward plan.”

Loan Market’s digital tools have enabled a network of ‘paperless offices’. Starting off with the personalised Hello Pack - including Loan Market’s innovative Online Fact Find - brokers can offer a professional and contemporary customer relationship, supported by automated marketing programs Nurture and Stay-in-Touch.  

Mrs Deegan said: “The professionalism and efficiency allows us to spend more time with customers.

“At the end of the day, we’re about educating and empowering our customers to have a better relationship with their money, which leads to a better life.”

The couple have enjoyed extensive backgrounds across banking, finance and financial planning sectors. 

Mr Deegan started in broking in 2002. He moved into an internal broking role with NAB in 2006, where he spent close to a decade, specialising in referrals from accountants and financial planners.

Leila has spent more than 20 years in various roles within the financial planning sector and joined Michael in their business in 2016 to focus on a wide range of financial solutions for customers. She was also recently recognised at the Better Business Awards in Western Australia, taking home the Best Loan Administrator award.

Mr Deegan said: “Through our backgrounds and experience, we’ve built up a strong referral base of financial planners, accounts, lawyers and other professionals”.

“We felt Loan Market was the choice to further foster these relationships by enabling its brokers to be true Trusted Advisors and create greater efficiencies to widen relationships with our referral partners, clients and outcomes that build better lives.”

The couple said the industry had changed significantly over the last two decades from transactional relationships with customers, through to being true Trusted Advisers.

“Back in the early 2000s, brokers were just seen as someone who got you a loan - not someone who was capable of providing you with a much wider strategy,” said Mr Deegan.

“There’s so much more you have to be across in terms of compliance and legislation, nowadays.

“Now, in 2020, under ASIC we’re able to provide credit advice that provides a much stronger relationship.”

Mrs Deegan said: “Do Financial has always had a strong focus on the relationship with the customer.

“With Loan Market, we’re able to retain the brand we’ve worked very hard to build, and also be part of a network that’s really future-focused and changing with the marketplace.”