Top gun program for mortgage brokers

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IT'S NOT five weeks in the Nevada desert flying against the best fighter pilots in the world, but it could be the mortgage broker equivalent, considering some of the records being set by new brokers. Jordan Hagicostas clocked up an incredible 19 deals during Lendi Group’s Graduate Program, setting the bar for the most lodgements ever made by an Aussie store broker after completing the eight-week course. Given that annual broker rankings sometimes have those in the top 500 nationwide cutting fewer than 100 deals a year, the pace shown by Hagicostas out of the starting blocks is supersonic. Hagicostas, now a store broker at Aussie Prospect in South Australia, makes the training sound a bit like something out of Top Gun – an intensive boot camp experience rubbing shoulders with other eager recruits where different lending scenarios are intensively war-gamed. “The most memorable part was being able to workshop scenarios with other new brokers around the country going through the program at the same time,” he says. “While we were all ultimately going to be working in different stores and even different channels, the ability to bounce off other people and take on their insights helped me to refine my own processes early on, rather than going into the wild underprepared and having to learn off the back of making major mistakes that can be far more costly.” Like a boot camp, one key benefit is the confidence it provides. “Having gone through the program and achieving the results that I did, I know that I have the edge over other new brokers in the industry,” says Hagicostas. Another is the networking value that is inherent in going through a training program with other motivated cadets – let’s call it the wingman factor. “In a dynamic and evolving industry like broking, networking is highly valuable and lifelong learning is essential, so the opportunity to form relationships with my broker peers from the outset was a major highlight of the program.”

Lendi Group was created in 2021 though the merger of Aussie Home Loans and Lendi to form Australia’s largest retail mortgage broker. Both were founded as market disruptors to help Australians get better deals, better rates and better information on home loans. Lendi Group’s platform helps customers compare, apply and settle loans online while being supported by a team of experts and brokers that power its brands, products, services and relationships. With a shared history of challenging the status quo, the two brands provide different experiences for customers with the same goal of helping more Australians achieve home ownership.

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JORDAN HAGICOSTAS, LENDI GROUP

But rather than macho pilot rivalries and one-upmanship, the Lendi Group program has more of a focus on support – a word that crops up multiple times when Hagicostas describes what the training was like. First, there was the support from Lendi Group head office and those running the program. “Everyone I met throughout the recruitment process from both the Prospect store and Lendi Group head office was very welcoming, and I was confident going in that I’d be in a supportive environment,” he says.

MATTHEW WHYTE, LENDI GROUP

The support in the program translates into the ability for new graduates to support clients. “Once I completed the eight weeks, I felt well prepared to support my clients and continue embedding my learning in a hands-on capacity,” Hagicostas says. Then there was the support from others in his cohort and the important connections that this provides for future career development. “I felt included, supported, and I’m confident that I now have relationships I can leverage to ensure my long-term success.” Finally, there is the support that Hagicostas and other graduates now feel confident enough to pass on to people following them. “My experience is still fresh enough that I’m able to relate to and empathise with newer brokers coming through … by applying the knowledge I learned in [the program], and the skills I’ve continued to develop in the early part of my broking career, I feel able to support my broker peers with their own queries,” he says. The graduate program is just one of a range of support and development initiatives that Lendi provides to brokers at different stages in their careers. There is also an Associate Program, a Pathways Program, and a Signature Program.

Lendi Group general manager for distribution growth Matthew Whyte explains how each works. “Our graduate program allows new brokers to hit the ground running from the outset – with new brokers ready to transact with customers from the beginning of week two, averaging over eight lodgements in their first eight weeks. This speed to competency is hugely beneficial for our brokers, particularly our self-employed brokers, as it accelerates productivity and speed to income.” The Associates Program is for people looking to increase their experience.

The Pathways Program helps to develop brokers at all career stages. Because broking has a large variety of business models, Lendi Group has gathered many of these patterns into one program that enables brokers to hone existing skills as well as be exposed to other broker pathways that could help expand their business. “We have a range of opportunities across the group, from salaried broker and independent contractor roles right through to franchise opportunities, or what we would call [being] 'the CEO of your own business’,” says Whyte. The Pathways Program framework encompasses logistical considerations, capability indicators and performance benchmarks for channel movements as brokers grow or their needs evolve. The framework also encompasses a “broker watchlist” where brokers suitable for future advancement are identified and nurtured. Using the Pathways Program, brokers can switch between different career tracks. For example, over the past six months, around 10 associates transitioned into salaried and self-employed broker roles, an Aussie-brand store broker went into partnership with their franchisee in a new greenfield store, and a Lendi Group staff member opened a new Aussie store using the program.

“Having gone through the program and achieving the results that I did, I know that I have the edge over other new brokers in the industry”

“Having such a wide breadth of opportunities in the network allows us to cater to the needs of our brokers regardless of where they are in their journey”

Lendi Group’s training and development programs leverage the huge range of talent across the group, with results that can be supersonic

“Associates contact company-generated and re-engaged leads to pre-qualify them, obtain key information and documents, and book them into broker appointments,” says Whyte. In this way, associates gain a solid foundation in sales and a comprehensive understanding of the home loan application process, which allows many of them to take on more senior roles in the business or become brokers themselves.

“Our Pathways Program serves as a highly effective broker retention tool, as brokers are able to transition channels as they grow or their needs evolve, ultimately forging long and sustainable partnerships with us,” says Whyte. “[It] helps us identify top performers, rectify skills gaps, formalise development opportunities, and facilitate conversations around growth and scale.” The Signature Program caters to the top 10 per cent of the brokers in the Lendi Group network, allowing the highest-performing brokers and franchisees to receive world-class opportunities, including coaching, marketing and strategy tools, and personal development.

Focus on providing and fostering support

Associate to provide experience for advancement

Pathways to change and retain talent, Signature to propel

Associate to provide experience for advancement

Pathways to change and retain talent, Signature to propel

Focus on providing and fostering support

Associate to provide experience for advancement

Published 29 Apr 2024

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Lendi Group’s training and development programs leverage the huge range of talent across the group, with results that can be supersonic

Loan book in excess of $95bn

All about Lendi Group

Over 1300 brokers in the Lendi Group distribution network

Over 220 Aussie retail stores across the country

More than 600 team members in home offices supporting brokers

Source: Lendi Group

Average number of lodgements in first eight weeks for new brokers after Graduate Program

Lendi programs for broker success

Future industry superstars in our Associates Program supporting our brokers

100+

Brokers and franchisees in Signature Program, representing some of the top talent in the industry

123

Brands in Pathways Program

“This program identifies high-performing brokers and provides access to additional opportunities designed to accelerate business success,” says Whyte.

It all comes down to catering to the huge diversity of working styles that exists in broking. Lendi Group is familiar with the problems that dog brokers at different stages of their career and aims to help them do everything from learning the trade, developing skills, and expanding their businesses, to becoming leaders in their chosen niche. “Having such a wide breadth of opportunities in the network allows us to cater to the needs of our brokers regardless of where they are in their journey,” says Whyte. “As a broker’s goals or needs evolve, they can transition to a business model that is suitable, and we can align our value proposition accordingly. This gives brokers assurance that a partnership with Lendi Group has long-term viability, with the ability to scale up their growth trajectory, or scale down if life so dictates.” While other aggregators are much more rigid in terms of entry requirements or operating models, Lendi Group’s programs ensure that the net is cast wide enough to capture the different constellations of brokers that work in the constantly evolving lending business. It is all about leveraging the talent and skills of people across the Aussie and Lendi brands, not to mention attracting the best of the best. “Part of what swayed my decision to join Aussie and the broader Lendi Group was their reputation as an industry leader when it comes to training and development of brokers,” says Hagicostas. After all, when you have talent to burn, who wouldn’t want to be a top gun?

Providing choice to the large variety of brokers out there

Lendi Group’s training and development programs leverage the huge range of talent across the group, with results that can be supersonic