First Step Finance

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Finding a reputable finance broker can be akin to locating a needle in a haystack. There are a lot of brokers to choose from, but which attributes should you look for in a finance broker? Just because a broker works for the largest brokerage doesn’t mean that they have your best interests at heart. There’s plenty of little things to look for when selecting a broker to handle your finances and financial decisions.

Proper Accreditation

You would be surprised to learn that there’s more than a few people out there who entrust their financial decisions to someone who’s only studied the subject on YouTube. Don’t be that person, make sure that the broker you’re using has the proper credentials. The finance broker company should have their Australian Credit Licence with the ASIC, the Australian Securities and Investments Commission.

They should be able to produce a CLN or Credit Licence Number upon request and they should be a member of an association such as the MFAA (Mortgage and Finance Association of Australia) or the FBAA (Finance Brokers Association of Australia). This licence ensures that you are getting a properly educated and trained steward of your financial picture.

Longevity

How long has your finance broker been in business? Five years? Or five months? This difference can be startling when it comes to financial decisions. Usually, a finance broker works as an assistant for the first few months to learn the things that they can’t learn in a textbook.

Strength of Clientele

Has your broker worked with any prominent companies or consulted with any successful businessmen? How strong is their client list? Ask around with some of their clients to see how well their experience was. Good word of mouth should speak volumes about the broker and the way that they do business.

Relationships with Lenders

A broker’s relationship with lenders is the bread and butter of their business. Finance brokers foster and maintain good working relationships with a wide range of lenders. This range is needed to have the ability to work with a wide variety of clients who all have different income levels and credit scores. Having a friend or relative who works in a lending institution can reap great rewards with valuable information about your prospective broker. Lending companies tend to talk “industry” to each other at various times and they’ll most definitely talk about bad broker experiences. You should consider this information when choosing a finance broker.

Visit The Brokerage

When the broker you’re considering works in a brokerage, it’s always a good idea to visit the business to get a feel of the environment. When you walk in, take a look around and take in everything you see. Is there a long queue of clients waiting to see their brokers? Is the receptionist friendly and does that friendliness extend to her phone demeanor when she answers calls? Do you see a lot of glum faces behind the counter? All of these images paint a picture as to how the brokerage is run. If the colors don’t add up to a rosy picture, perhaps you should consider another firm.

Personal Experience

If all of the previously mentioned facets above check out okay, then you should have an initial consultation with the broker one-on-one. This should be your final arbiter to get a gauge on the broker themselves. Does the broker seem confident in talking with you? Are they friendly or are they strictly businesslike? Do you feel like you’re speaking to a friend? Or do you feel like you’re just another number that they’ve pencilled into their appointment book. Do they take the time to answer your questions fully and explain everything to your understanding? After all, it’s your finances that are in their hands and you should feel as if you’re speaking with an ally, not a robot.

Conclusion

Finances can be cumbersome and confusing to some and it helps to have someone there who will guide you in the right direction. A good finance broker should address you as an old friend and have your best interests at heart. You should walk out of a brokerage appointment feeling confident and happy about your experiences and your dealings with the broker. Use these tips above to find the broker that will complete your finance team.

For some of us out there, we’ve known what we wanted to do with our lives from a young age. That road does take some twists and turns and sometimes you end up at a fork in the road career-wise. You can stay on the same path and navigate the perils of an unfulfilling vocation. Maybe it’s family obligations, the fear of trying something new, or it’s a trade that you make good money at, there are a multitude of reasons that employees stay at a job that may not be ideal.

For those who take a different path and strike out on a new career, it can be pretty harrowing at times and pretty rewarding as well. The old adage “nothing ventured, nothing gained” definitely applies here as those who switch careers midstream look to find something meaningful within their job. For those such people looking to try something different, there are plentiful opportunities within the world of Finance.

Financial Planner

Financial planning is a line of work that frankly, we all should be doing in our own lives. How many amongst us set a monthly budget? Do we set aside enough money for retirement? How many of us look at investments and other opportunities to make our money grow over time? These are all questions that a good financial planner can answer for you and it’s a career that’s high in demand. Most of us in the real world are living paycheck-to-paycheck with hardly any savings built up. When you become a Financial Planner, you can help your clients achieve those goals of adulthood such as home ownership, a bountiful retirement plan, and a balanced budget.

Accounting

Are you good at crunching numbers? Do you have an eye for the small details? Then perhaps the world of Accountancy is for you. Most people assume that Accountants only work during tax season, that couldn’t be further from the truth! Tax season is the busiest time of the year for Accounting as they do work on clients’ taxes and ready tax returns. Accountants also do monthly work for their clients such as bookkeeping and tax planning. CPA’s (Certified Public Accountants) also compile data for financial reports every quarter and are also available for IRS audits if needed. An Accountant needs to be accurate, dependable, and expedient, especially during the tax season.

Estate Planner

Similar to a Financial Planner, Estate Planners also help clients with preparation of financial matters. This line of work is geared towards Estates of loved ones who’ve passed on or are terminally ill. Everyone should have some form of contingency plan put into place upon their passing. Having a Will or Post-Mortem Directive will give surviving heirs and loved ones a plan with what will happen with your Estate. One needs not to look any further than the famous musician Prince for what happens when you don’t have a contingency plan in place. Estate Planners can help families with a clear vision forward with their loved one’s Estate.

Mortgage Broker

There are people out there who need financing for buying a house and there are lenders out there in search of these buyers. Who puts these two camps together to get the deal done? Mortgage brokers! Mortgage Brokerages can be a noisy climate as brokers are on phones constantly with clients and lenders. The premise seems simple on paper as borrowers are looking to get the best rates while lenders are looking to get the most interest in these deals. The mortgage broker’s aim is to try and get a deal together that will satisfy both parties with favorable terms. Part-Consultant and Part-Politician, the mortgage broker has to wear many hats to get the job done. It can be a rewarding experience to help a borrower get into a home that they didn’t think they could get through regular channels of lending.

Bank Teller

The Bank Teller is the person that sees the most action as they are the first face you see when you walk into a bank. In many ways, the bank teller is the face of the business as they are your direct representative of your bank. Every bank needs friendly bank tellers to be that first-line of quality customer service. This is also a good place to start your journey in the world of Finance as you can learn all of the basics needed for future promotion.