An SME lender has voiced concerns about the future of business lending
Two brokers predict possible outcomes the commission’s recommendation will have on the industry
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Every brokerage wants to become synonymous with a trait customers value, and that’s what Red Door Financial Group aims to achieve.
“Our strategy is simply to one day become ‘Australia’s most nimble brokerage’,” Faris Dedic, Red Door Financial Group director and 2019 MPA Young Guns finalist, told MPA.
“This means we have to be the best brokers we can be from a technical and service perspective, and to never change who we are and to be genuine in doing business.”
Dedic believes that most clients come to brokers for easy access to funds. So apart from making sure his team provides a straight-forward lending process to clients, Dedic has made it his personal goal to educate clients about what he does and how he looks at every transaction to equip them with knowledge for their next acquisition or financial move.
Guided by three points
When Red Door was born, Dedic’s team felt that the industry at the time was very “pharmaceutical and dated”, and they wanted to put a personal touch on their service proposition. They realised that although brokers can access similar products, clients seek a “personal genuine touch”.
Red Door focuses on delivering three main points: excellent communication, a candid approach to business, and a long-term mindset.
“I believe those three points have enabled our stakeholders, who are both referrers and clients, to trust us from the very beginning, and in turn has enabled us to grow into the firm we are today,” Dedic said.
“We aim to discover their financial and personal goals, their interests and affiliations, their professional expertise and business interests, and to whom they may be linked and should be introduced.”
With the information they gather, Red Door is able to help their clients find solutions for problems beyond finance. And by moving into a new office, which has enabled Dedic and his co-director Stephen Andrianakos to have a space to employ a capable team, Red Door has seen a quarter-on-quarter volume growth.
Unchanged but maturing
Red Door’s core values and roots have remained unchanged, but as the brokerage has grown and become more mature, it has adapted while also remaining focused on being bespoke.
Red Door has implemented a number of new strategies to adapt to the lending market, particularly in the commercial segment.
“Currently our whole industry is undergoing possibly the biggest changes in its history, so if we were to remain close-minded, we would very quickly fall behind innovators in the industry and newcomers with a fresh outlook and approach,” Dedic said.
“We will in particular keep an eye on technological advancements that may assist our business, sales and management theories, as well as our burgeoning trends that can support our fluid strategy.”
Red Door may still be defining its brand as it uncovers opportunities and becomes aware of its strengths and potentials, but it has become widely known for being nimble and for always having its clients and their families at heart.
“All these points come from our long-term approach to our business, and not being the ‘tick-and-flick’ kind of brokers,” Dedic said.
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