There's no secret formula for success, just hard graft and determination, says the founder of Townsville-based brokerage Deb Box Financial Solutions
Deb Box is many things. A star broker. The founder of independent Townsville-based mortgage brokerage Deb Box Financial Solutions. A mother of two. A wife. And that’s not even touching on life essentials such as spending time with the grandbabies, watching a good movie and hanging out with family and friends.
She is also, unfortunately, a bit of a rarity. Despite countless campaigns, mentorships and industry initiatives, female representation in the broking industry has not just stalled but reversed.
According to the latest Mortgage and Finance Association of Australia data, women made up just 26.8% of Australia’s broking population as of September 2024. Eighteen months earlier, that figure was slightly higher at 26.9%. Back in 2019, it was noticeably higher at 27.2%.
Although traditional gender roles have become less rigid in today’s society, there is no getting around the fact that balancing family responsibilities remains a significant barrier for women entering the professional workplace – particularly if that workplace falls far outside the typical nine-to-five schedule like it does in mortgage broking.
So, what is Box’s secret?
“I’m not sure there is any secret, and if there is, I’m all ears!” she says in an interview with MPA.
“All these years later I still struggle with trying to juggle all of the hats and find time for myself, often finding it hard to say no and set boundaries. I just give my work and family my 100% all, and that’s all I can really do.”
Box concedes that it’s been far from plain sailing since she launched Deb Box Financial Solutions in 2016. There is no real “switching off” when it comes to her chosen profession, especially because, as every broker knows, no two loans are ever the same.
“I am passionate about finding an outcome, whether it’s an immediate solution or a long-term plan – I like to dig deep and find solutions for my clients,” says Box.
It’s undeniably hard graft, but for Box, the rewards make it worth the effort. “It never gets old making the call to congratulate our clients on a successful loan application,” she says. “Brokers play such an important role in assisting clients to bring their dreams to life.”
“Choosing a supportive aggregator is extremely important to ensure you get the support you need” – Deb Box
But while the broking industry can be rewarding, Box doesn’t beat around the bush when asked why women – including those with families to take care of – should contemplate becoming brokers.
“It’s really hard when the children are little – lots of clients prefer an evening appointment, which takes away from being home to put the kids to bed,” says Box. “You really need a tight-knit support network to have your back and hold down the fort at home with the children when you are working late.
“Honestly – setting boundaries right from the get-go would definitely be key.
“I still struggle with trying to juggle all of the hats and find time for myself, often finding it hard to say no and set boundaries”
From banker to broker
Like many of her contemporaries, Box transitioned into broking from the banking world, having worked as a mobile mortgage manager at NAB.
Many ex-bankers cite the allure of working for yourself, of setting your own boundaries and not having to grit your teeth through endless teleconferences, as natural benefits of becoming a broker. But Box warns that work-life balance isn’t one of them.
“I often joke that the close of business is midnight at Deb Box Financial Solutions, and you’ll generally find me still working at midnight or answering calls to clients on the weekends. Some clients do think we don’t sleep,” she says.
That being said, while broking certainly isn’t a Monday to Friday, nine-to-five job, “I do love the flexibility to squeeze some spare time to watch my granddaughter’s school performance or sneak out for a quick lunch with my family.”
Box’s transition from banking to broking involved many lessons learned the hard way, not least in coming to grips with broking’s remuneration structure. She recalls earning next to nothing for the first three to four months of her new career due to the way commission structures work. Even well-established brokers can find themselves blindsided by banks’ dreaded clawback policies.
“Choosing a supportive aggregator is extremely important to ensure you get the support you need,” says Box.
But becoming your own boss also requires self-discipline. “My closest people would definitely agree to this day that I hate saying no to anyone and I try and help every single client, which sometimes is just not achievable,” says Box. “But I go to bed at night knowing that I have done my best.”
No looking back
“At the end of the day, being a broker feels more personal, dynamic and purpose-driven,” Box says.
“It’s not easier, but for someone who thrives on relationships and results, it’s definitely worth it. Having the ability to run my own show and being the decision-maker definitely makes me appreciate the broking space over a typical ‘banker’ role.
“As a broker, I’m not tied to one institution’s products or policies. We look at the entire market to find the best deal for my clients. That independence gives me the freedom to really advocate for people and to achieve the best outcomes for my clients!”
Deb Box Financial Solutions at a glance
- Owner: Deb Box
- Location: Townsville, Queensland
- Services offered: Home loans for owner-occupiers and investors; construction loans; loans for home renovations; personal loans to assist with debt consolidation; car loans, caravan loans and boat loans; commercial lending
- Number of employees: One
