2019 Australian Broking Awards Boutique Aggregator of the Year
Accolades
Media
Milestones
2012
2018
2022
2023
Launch of operations
2012
2022
Launch of the LNS A-FIT program for new-to-industry brokers
2018
Now and in the future, LNS will continue to recognise the many advisers who have been with the company for more than five or 10 years
2023
Running with Liberty Network Services
“Every morning in Africa, a gazelle wakes up. It knows it must run faster than the fastest lion or it will be killed. Every morning a lion wakes up. It knows it must outrun the slowest gazelle or it will starve to death. It doesn’t matter whether you are a lion or a gazelle: when the sun comes up, you’d better be running.”
The fable of the lion and the gazelle, popularised by Thomas Friedman in his bestselling book The World is Flat, is about always being on your toes, and the fact that competition is a natural state to be ignored at your peril. It’s a parable that inspires Liberty Network Services (LNS) managing director Brendan O'Donnell and one that is particularly apt for mortgage brokers in the current market.
“With most residential home loans now sourced through brokers, competition is fierce,” O’Donnell says.
Mortgage brokers’ share of new residential loans tops 70% of the market, which means they need to differentiate themselves from the herd while working to reach new customers but continuing to service their existing client base – a task that isn’t easy with a bunch of lions breathing down your neck.
This is where LNS makes a difference.
“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 says.
Some might worry that a boutique aggregator like LNS might not have the weight to last in this economic survival of the fittest. But anybody who understands evolutionary theory will know that it isn’t the biggest or meanest who proliferate but those who can find and best adapt to a particular niche.
This has been LNS’s core value proposition since it first started operating in 2012.
“It’s even more relevant today, delivering exceptional benefits to our advisers, and is unique in the market,” O’Donnell says.
Spotlight
At Liberty Network Services, our advisers are more than just mortgage brokers. With tailored marketing, extensive training and a diverse product offering, advisers receive one-on-one support to boost their businesses and help more customers get financial. As LNS grows, continuing to drive a culture that inspires innovation and fosters success is of utmost importance. LNS enjoys strong business growth and is a challenger brand in the Australian broking market. We are proudly supported by the Liberty Financial Group (ASX:LFG), setting new standards in finance and the community with financial inclusion part of our DNA.
Company Profile
194
LIBERTY ADVISERS
100+
Local marketing initiatives each month
49%
YOY growth in motor and personal loan finance
4%
YOY growth in commercial, SMSF and business finance
5%
YOY growth in residential finance
Bio
Spotlight
Milestones
Media
Accolades
Company Profile
Years of experience
40
tenure IN current position
13 years
CAREER HIGHLIGHT
Helping Liberty Advisers grow and prosper in their businesses
Brendan O’Donnell
Managing director at Liberty Network Services
Boutique aggregator Liberty Network Services’ approach ensures brokers can always find their niche and thrive in any kind of market, says Brendan O’Donnell
Read on
“Advisers are more than just mortgage brokers, and because of our boutique size we are better able to celebrate this”
Brendan O'Donnell, Liberty Network Services
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Milestones
2011
2015
2016
2021
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2011
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2012
2019
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2021
Running with Liberty Network Services
Spotlight
Years of experience
40
Tenure IN current position
13 years
CAREER HIGHLIGHT
Helping Liberty Advisers grow and prosper in their businesses
Karen Adams
Managing director at Liberty Network Services
Before becoming CEO of Fundserv, Karen Adams held a variety of leadership roles around the world – and she learned that listening and understanding are key to both providing service and developing talent
Read on
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BRENDAN O'DONNELL, LIBERTY NETWORK SERVICES
A large aggregator certainly has presence but is rarely quick and nimble enough to stand out when the going gets tough, as it is in the current market.
“When they join a scaled aggregator, brokers often feel they are just a number,” O’Donnell says.
LNS is a study in contrast with those offering a bland, one-size-fits-all solution.
“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,” says O’Donnell.
“Advisers are more than just mortgage brokers, and because of our boutique size we are better able to celebrate this.”
There is no doubt that the broking industry is facing a very different operating environment to 12 months ago. In June 2022, total housing loan commitments were still holding above the $30bn level. Since then, the Great Unwind has drastically accelerated, with lending hitting a trough of just under $23bn in February – a graph of the data looks more like a ski jump than the gently contoured lending slopes of the 2010s.
“Brokers have needed to navigate successive rate changes since May last year which have dampened consumer spirits, particularly in the mortgage space,” O’Donnell says.
Coping with such rapid change can be confronting, and a good place to start is with the basics.
“In today’s challenging economic climate, maximising income and keeping costs in check is essential,” O’Donnell says.
But LNS understands that this isn’t enough for brokers to adapt to the brave new post-pandemic lending world. “We also know there are significant opportunities for brokers to increase their income by understanding their customers’ needs and offering a diversified range of solutions across home, commercial, SMSF [self-managed super funds], business and personal lending.”
Business credit growth at banks and non-banks has increased rapidly over the last few years and really taken off at non-banks over the last 12 months. Loans for commercial property and SMSF have been particularly strong.
LNS has a strong emphasis on diversifying away from an overreliance on residential to help brokers spread business risk and find new sources of income.
“Our exceptional diversification program helps advisers balance short-term cash flow with longer-term book-building,” O’Donnell says. “We work with brokers in all stages of their career and invest heavily in many aspects of their daily business operations.”
He expects this investment to benefit brokers in the LNS family as the Reserve Bank of Australia continues to use higher rates in its battle against inflation.
“As we head into the second half of 2023, I have every confidence our national network of Liberty Advisers will continue to help educate, support and guide their existing customers … [and] help many more new customers get financial.”
2019 AMA Aggregator of the Year (Up to 500 Brokers) Winner
2020 AMA Aggregator of the Year (Up to 500 Brokers) Excellence Award
2021 AMA Aggregator of the Year (Up to 500 Brokers) Excellence Award
BRENDAN O'DONNELL, LIBERTY NETWORK SERVICES
One of the aims of the LNS system is to turn their brokers into a key resource for their customers and communities.
“We work with advisers to combine their years of experience and expertise with up-to-date financial insights to deliver effective engagement programs with potential prospects and existing clients. The goal is to position them as so much more than a broker,” O’Donnell says.
Creating these uber-brokers requires a combination of technology and leveraging the wider network to make the whole larger than the sum of its parts.
Technology has moved very quickly during the pandemic, and innovations show no signs of slowing down.
“When it comes to business growth, the trick is making sure the system you have is robust, improves your productivity and helps you work smarter. Beyond this, brokers need technology that embraces diversification of asset classes and supports them to meet their compliance obligations,” O’Donnell says.
But it’s important that the human element is retained within all the new systems – something brokers themselves have emphasised to LNS.
“Despite the benefits of remote work and the ability to engage digitally using several trusted platforms, brokers still want and need face-to-face interaction and support from their BDMs,” O’Donnell says.
LNS has thus invested in providing more Network Sales Managers to offer advisers greater support. “We recognise having the right mix of in-person and digital engagement is crucial.”
The internal culture at LNS is also a key ingredient in its ability to punch above its weight in the aggregator space. It has a strong focus on connecting its adviser community across the country.
“We strive to provide advisers the best of both worlds – enjoying the freedom of running their own business while connecting to a larger collegiate group that provides support, care, and motivates and celebrates,” O’Donnell says.
“I have an amazing team at LNS who are passionate, committed, resourceful and always learning and executing new and better ways to help advisers succeed.”
Perhaps you could say each gazelle is unique, while the herd takes care of any wayward stragglers.
Looking ahead, O’Donnell is sure that LNS brokers will continue to thrive no matter what the economy throws at them – something he says gives him a tremendous sense of professional satisfaction.
Having lived in Africa, he has been lucky enough to see many lions and gazelles up close – and on occasion, both in action. While most of his team have not been as fortunate as to experience the African bush, every morning across Australia when the sun comes up, O’Donnell and his team are waking up not only running but making sure their advisers are ready to run too.
“Advisers are more than just mortgage brokers, and because of our boutique size we are better able to celebrate this”
“I have an amazing team at LNS who are passionate, committed, resourceful and always learning and executing new and better ways to help advisers succeed”
“Advisers are more than just mortgage brokers, and because of our boutique size we are better able to celebrate this”
“I have an amazing team at LNS who are passionate, committed, resourceful and always learning and executing new and better ways to help advisers succeed”
“I have an amazing team at LNS who are passionate, committed, resourceful and always learning and executing new and better ways to help advisers succeed”
Melbourne
based in
1999
2003
2007
2015
2020
2021
Joins NAB as executive broker distribution
2021
Becomes head of private wealth north at Westpac
2020
Appointed head of asset finance at CBA
2015
Named captain of the Waratahs
2007
Named vice-captain of Australia's Rugby World Cup team
2003
Waugh debuts as a professional rugby player with the Waratahs; makes Test debut with the Wallabies
1999
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Published 26 Jun 2023
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Brendan O'Donnell, Liberty Network Services
Keeping up with the times
2022 AMA Aggregator of the Year (Up to 500 Brokers)
Excellence Award
2021 Australian Broking Awards Boutique Aggregator of the Year
JAN: Celebrates 10-year anniversary of Liberty Network Services
NOV: Launches Spark+, LNS’s seamless, integrated and easy-to-use technology platform
DEC: Implements the Know Your Customer (KYC) customer engagement platform
Jan: Celebrating 10-year anniversary of Liberty Network Services
Nov: Launching Spark+, LNS’s seamless, integrated and easy-to-use technology platform
Dec: Implementing the Know Your Customer (KYC) customer engagement platform