All this week, LMG has been hosting webinars dedicated to diversification with more than 500 brokers and support specialists registering for daily sessions.
From benchmarking performance in commercial and asset finance to upskilling through Brokerversity - LMG’s central education platform - LMG specialists heard from experts in the field on why servicing the broader needs of their database is the future of broking.
It’s all about our commitment to helping brokers diversify their revenue streams and build smarter businesses.
Andrea McNaughton, LMG Group Executive Residential, said every broker should be leveraging the trust they’ve built with their clients through offering great mortgage advice and solutions.
“With seven out of 10 home loans written by brokers in Australia, it makes perfect sense for brokers to take the trust they’ve established with their clients to help them find solutions for all their finance needs,” said Mrs McNaughton.
“Diversification Week is just another initiative of LMG to equip our brokers with the knowledge and tools to take their skills and relationships with clients to the next level.”
Diversification Week focused-on the many opportunities brokers can pursue at LMG to develop smarter businesses and introduce new revenue channels.
Brokerversity educates specialists on commercial lending
The team behind Brokerversity - LMG’s virtual campus that’s preparing the brokers of tomorrow and strengthening the skills of existing brokers - have added a Commercial Finance elective to its education program.
Once brokers have the skills to discuss and identify Commercial opportunities with clients, Brokerversity shows brokers refer the deal to referral hub partners. This full-service commercial finance platform delivers comprehensive lending solutions from scenario to settlement.
Utilising software for benchmarks
Head of Broker Business Performance Ash Ross outlined during his webinar how monitoring changes in your additional revenue streams on accounting software can indicate the impact diversification has on profitability.
Ash - a chartered accountant - shared a recommended Chart of Accounts and recommended dashboards brokers need to set-up on software program XERO to keep a closer eye on different benchmarking metrics which the Loan Market Profit Team analyse.
Navigating SMSF lending
This was the most popular session of the week. The session focused on all things Self-Managed Super Fund (SMSF) lending, deep diving into residential and commercial property investments while shedding light on the latest options available. It explored the various lending structures available for SMSFs and outlined how they can be tailored for individual clients’ needs.
Unlocking Asset Finance
Last year, Nodifi - the industry’s leading Asset Finance platform - became part of LMG, offering network businesses access to the best technology for vehicle, equipment and personal loans. Brokers gain access to a comprehensive platform that streamlines the asset finance process, making it faster and more efficient. It enables brokers to connect their clients with a wide range of lenders, expanding their options and increasing the likelihood of favourable asset finance deals.
If you want to find out more about how LMG is helping its businesses diversify their revenue streams and become smarter businesses, contact the team today.
Ryan Ellem
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Jul 07
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2 min read
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