Paul Fuller of Mortgage Room says financial literacy should be an integral part of secondary school life.
Years in industry:
Why did you get into mortgage broking?
After 18 years in banking with one bank and seeing the changes from Trust Bank to Westpac
and how clients and staff were treated, I decided that corporate life was not for me. I felt that service levels had fallen so much and that I wanted the ability to use my ideas without being restricted while having control of my own future. I enjoyed helping others and mortgage broking was a natural choice.
How would you sum up mortgage advisers in three words?
Educational, choices and trust
What advice would you give to a new mortgage adviser?
Read, study and never stop learning. Get to know everything about each individual bank and lender. Understand every aspect of their products, criteria and services. Understand how they differ from one to the other in all aspects. You need a strong foundation and the knowledge is the base that builds a good mortgage adviser and without this you will struggle to build a loyal client base.
How would you change the industry?
We are but slowly, by continuing the move from a price driven environment that banks are creating with cash and give-a-ways to a trusted, educational and supportive service to all clients.
What’s the most important thing an adviser can do to develop their business?
Look after your staff. Without a good PA you will always be limited in your ability to help your clients. Without good staff you will not have a business.
What’s the best advice you’ve ever been given?
It’s always easier to go with the flow than fight against it. Work with the system to achieve your goals as apposed to fighting against it.
If you were Prime Minister for one day, what would you do?
Simply make financial literacy a part of secondary school life and ensure all children leaving school have the opportunity to understand the importance of budgeting and money management.
What has been the highlight of your career?
What we have today and that’s working with a great team of individuals within our small office with a very strong loyal client base, supported by the 2011 NZMBA and 2015 PAA NZ Awards.
What’s your favoured style of coffee?
Union, league, soccer or other?
Went through school that were all league and a couple went on to play for the Kiwis, but I always enjoyed playing the Union game.
If you could invite three people to dinner, dead or alive, and excluding family and friends, who would they be and why?
Robin Williams, Eddie Murphy, and Jerry Seinfeld – Simply the funniest and entertaining meal anyone could have.
Complete this sentence: If I wasn’t in mortgage broking, I would be…
Trapped in corporate life looking for direction.
Every Monday we’ll feature a different mortgage adviser from across New Zealand. If you’d like to be included, please email us here.