In 2023, Yarra Valley-based mortgage broker Laura Moya made the life-altering decision to step away from the franchise mobile mortgage broker model and go independent, opening her own brokerage and choosing to partner with AFG as her aggregator.
After seven years as a mobile broker with a major aggregator group, where she won multiple industry awards, Laura says she was ready for a new phase that would also give her greater autonomy, more time to be present for her young kids, and a client book that was all her own.
While the first two years as an independent operator haven’t all been easy, Laura is ultimately thrilled with the choice she made, saying, “I have the freedom to work as much or as little as I want, and then I get to keep the trail. With broader lender options – not only for residential lending, but also for commercial lending, SMSF funding, asset financing and personal lending – I can support my customers a lot better as well.”
Launching a new era
Earlier in her career, Laura spent 10 years in a fast-paced role as a mortgage clerk for an investment company specialising in property development private funding. To this day, Laura holds this company in high regard for the valuable career development opportunities it offered. However, after purchasing her first family home, she was encouraged by her mortgage broker to capitalise on her experience in the mortgage sector and explore broking as a career.
Responding to a recruitment drive for mobile brokers, Laura was drawn to the hands-on training and lead flow offered by the franchise model: “The commission splits weren’t great, but they were a start.”
While mobile broking had advantages over her previous ‘9-5’, particularly as she juggled her career and family, Laura ultimately grew frustrated with the limitations of the franchise model. “You’ve got your clients, but at the end of the day, you don’t own them,” she says. Laura also wanted greater control and closer relationships with her clients throughout the loan journey, and not “through a call centre to pre-book client appointments without discussing their scenarios directly.” She adds, “I value personal relationships with my customers and like to get to know their scenarios to ensure that I have 100% accurate and detailed information for all applications.”
Going out on her own, she knew she couldn’t take her loan book or contact her existing clients, but believed in her ability to build from the ground up: “Nobody can take away knowledge I have acquired and can easily transfer over to my new business venture.”
Finding a flexible partner
Laura says she discussed aggregator options with her solicitors, who advised AFG was the best fit for her needs. As an experienced broker, she wanted to hit the ground running, with the support to make her own decisions.
“I didn’t want KPIs,” she says. “While my kids are little, I’m not really interested in, ‘You have to settle $50-60 million dollars a year or more.’ I’m self-employed, and I know that if I don’t settle, I won’t be paid. My main priority is to ensure all customers feel valued and heard – and hopefully build long-term relationships to grow their financial literacy and repay their mortgage faster.”
As a team of one, without admin support, Laura wanted to be across each deal from start to finish so she could act decisively. “Now I have oversight in every step of the process, and AFG offers a lot broader flexibility than what I could do previously,” she says.
Laura specifically highlights AFG’s BrokerEngine Plus software and their large and diverse lender and product panel, which helps her provide tailored options to her core clientele of “mum and dad refinancers and first home buyers.”
She also cites the benefits of AFG’s referral program Partner Connect, which gives her the option to confidently refer her residential clients to experts in asset finance, commercial finance and insurance which provides a one stop shop for her customers.
Independent and in control
After backing herself to rebuild her client book as an independent broker, Laura now relies almost entirely on glowing word-of-mouth referrals, servicing clients in both English and fluent Spanish.
She has also relished the freedom to get creative with marketing within Victoria’s Yarra Valley Region and surrounding areas to ensure her local community knows she is knowledgeable and should be considered as a suitable mortgage broker for their next loan application.
In the franchise model, Laura’s calendar was often pre-booked with face-to-face appointments at inconvenient times and far from home. Now in full control of her schedule, and with AFG’s support behind the scenes, she’s able to offer a more meaningful, personable service to clients who’ve put their trust in her, not a big-name brand. Most importantly, Laura’s business now serves her life, not the other way around.
As Laura’s story makes clear, there are many possible motivators for choosing to go independent. Whether you’re seeking flexibility, freedom or a business that builds your legacy, AFG can support your journey every step of the way.
Ready to Own Your Future?
Join our webinar on July 10 at 1pm AEST to hear from brokers who’ve made the move to business ownership and learn what it takes to transition successfully.
