Broker in Focus: Raj Ladher, Mortgage Wealth
- Full name: Raj Ladher
- Job title: Senior Mortgage Broker
- Company: Mortgage Wealth
- Number of years in the industry: 19
- Location: Central Coast
How and when did you become a mortgage broker?
Having completed a master’s degree in Financial Management in 2006, I knew I wanted to help people make better financial decisions. I soon got a job in the financial services sector as a paraplanner and obtained my qualifications as a mortgage broker. It was the wild, wild west back then, with banks offering 125% LVR mortgages – not surprisingly, the global financial crisis hit soon after.
In your opinion, what has been the most positive development in broking?
Personally, I like the transparency and trust that Best Interest Duty has brought to our industry. I love mentioning to our clients how we mortgage brokers are mandated to work in our clients’ best interests, which is far from what the banks are required to do in their direct-to-consumer channels.
Although it needs a better framework, I believe our mentorship requirements for new brokers are great, as there is so much to navigate in our industry, especially in the earlier years. I was fortunate to work with 30-plus experienced brokers in one office, allowing me to be guided through those initial years.
What challenges do you see currently facing the industry, and what solutions would you propose?
The industry is fast-paced, and brokers need to stay across the ever-changing market, products and client needs, including commercial, asset and business finance. Building strong relationships with all providers they have access to will help brokers navigate this.
With the banks trying to take some market share back from brokers, championing our point of difference – which is choice, convenience and customer service – should never be negotiated. My team and I prioritize building strong relationships with our clients, making sure we take the time to listen to them so they don’t feel like a number.
