One of the royal commission's main concerns is how lenders and brokers inquire about and verify borrowers' living expenses
"On first glance, it appears the commission does not fully understand the finance broking sector" –FBAA
- 2018 Commercial Lenders Roundtable
- Top 10 Brokerages 2018
- 2018 Brokers on Aggregators
With a culture of knowledge sharing and tailored support, Choice Aggregation Services brings a deep understanding of brokers’ businesses and works closely with members to achieve their growth aspirations across both residential and commercial lending.
This week, Choice Partnership Manager for QLD, Bruce Vale, discusses ways brokers can manage stress at work.
The issues of stress and mental health in the workplace are firmly in the spotlight at present, with a recent SuperFriend study indicating that nearly half of financial services employees are experiencing stress in their jobs, nine per cent higher than the national average.
Broking is a very busy profession and in our discussions with brokers, the Choice team is often asked for advice on how brokers can carve out more downtime in their day. Here are our top three tips.
Block out time
Today there is an overwhelming amount of scientific data to show that mental downtime leads to happier, healthier and more productive workers.
As a broker, you are likely to be extremely client-focused, which can mean working during the evenings and on weekends to fit in with clients’ schedules.
Many brokers we work with find scheduling personal time in their diaries helps them to achieve essential work-life balance and avoid burnout. Even when work is busy, try to book time in your diary to do the things that are important to you – whether that is going to the gym or eating dinner with your family, to give your brain a much-needed rest.
Form a buddy system
If you are a new-to-industry broker, finding time to take a holiday can be difficult in the first two years, when you are focused on building networks and growing your client base. Yet taking even a short break is important for mental health, providing time to recharge and connect with family and friends.
If you are just starting out or working alone, consider forming a buddy system with another broker who can take calls and see clients on your behalf while you are away. If no-one springs to mind, ask your aggregator to recommend a like-minded broker in your area.
Get out of the office
The broking industry is changing rapidly and this can also be a source of stress. Attending aggregator events such as professional development days and peer-to-peer sessions can be a great way to stay on top of industry changes and meet other brokers who are talking to similar clients and facing similar challenges.
Networking can be highly rewarding on both a professional and personal level, providing brokers with a network of people who can offer a friendly ear during difficult or challenging times. Check your aggregator’s calendar for an event near you.
Bruce Vale is Partnership Manager for Queensland with Choice Aggregation Services.
This article is part of a series featuring Choice Aggregation’s broker support team focusing on how they can help brokers overcome common challenges. Find out more: http://www.choiceaggregationservices.com.au/
Previous diary chapters from 2018:
Create a smarter marketing strategy
Analysing client expenses
Four reasons to consider peer-to-peer learning