Why it's time to diversify beyond residential lending

Boban Jurisic [00:00:05]  

Hello and welcome to MPA TV. I'm Kylie Speer and joining me today is Boban Jurisic, CEO at Infinity Group Australia. Infinity Group is an Excellence Awardee in MPA's Top Brokerages of the Year, Diversification for 2023. Welcome to you, Boban. Congratulations and thank you so much for being here today. 

Boban Jurisic [00:00:27] Thank you very much Kylie. It's great to be here. Appreciate it. 

Boban Jurisic [00:00:32] Well, firstly, Boban what makes your brokerage so different from others? 

Boban Jurisic [00:00:38] Great question. And one of the things that makes us stand out, and I know it's industry standard, everybody says they have a holistic approach to, you know, to the client's financials, or financial situations. But we, we do actually take a holistic approach. And we have six pillars in the business that started, you know, education all the way through to customer care, brokerage, asset, finance, etc. So we look after all of the client's financial needs effectively. And we also then have a, what we call a effectively customer care, but a private bank of mum and dad, will we manage their finances, and we look after their budgeting, and we show that the clients are on track every single month to keep your budgeting goals. 

Boban Jurisic [00:01:21] How do you create a diversified financial strategy for your clients portfolio? 

Boban Jurisic [00:01:27] Very detailed question. So what we effectively do is when these clients come through, say it's a webinar or a masterclass whatever it might be, we review their circumstances as you would. And then we look at a number of different approaches, you know, whether it's a refinance to a cheaper rate, pay off the loan quicker, whatever might be, in some instances, if the clients have enough equity, we might even do a cash out to effectively buy property. And that is how we build wealth for our clients. We do refinance cash out, buy another property. And we sort of repeat that, repeat that process, so on and so on. So that allows our clients to build wealth for the future, and creates generational wealth. Thereafter.  

Kylie Speer [00:02:15] Boban, why should brokers diversify beyond residential lending into commercial loans, asset finance and SMSF Lending? 

Boban Jurisic [00:02:25] So why should they diversify? That's a an interesting question and a topical question at the moment in the industry, given everything that's been going on, yeah, before the rate rises, etc., obviously, the market stabilizes a little bit now. But diversification effectively brings out different revenue streams, into different businesses. I'll give you I'll give you an example. For us. 50% of our purchases are through SMSF. And that is something that it's much of an untapped market. And it does allow, like I said, different revenue streams into a business. Which, which, yeah, which helps the bottom line effectively, right. But not only that, you're providing clients with the opportunity, if they can't afford to buy something in their personal names, because they haven't got the service ability or whatever it might be. If you're buying, let's say an SMSF, or you're buying a commercial property, in a business plan, whatever it might be, it gives clients the opportunity to expand outside of traditional lending effectively. So like I said, not only is it a good revenue generator for the business, but it's also allows the client to diversify themselves and look at different income streams.  

Kylie Speer [00:03:30] And finally, Boban how important is having a good mentor and becoming a highly skilled broker? offering a range of services?  

Boban Jurisic [00:03:40] That is a really good question. Um, I, I personally believe it's super important. You have to align yourself to the right people with the right mindset. And people that are going to help you elevate your game. There's no point aligning yourself to someone who's you know, subpar rows or achieving good target or whatever it might be. I think it's super, super important to have someone that you can align yourself and that's going to drive you in and push you but also question some of the decisions that you make as a broker. Because you will need someone in the industry that you bounce ideas off. So I think it's super important, especially for your industry brokers are looking to grow. I think it's super important to align yourself with someone that's done exceptionally well. 

Kylie Speer [00:04:21] Well, congratulations once again on your well deserved award, Boban. And thank you so much for your time today. 

Boban Jurisic [00:04:29] Thank you, Kylie. much appreciated. 

Kylie Speer [00:04:32] And thank you, of course to our viewers for watching the latest episode of MPA TV. We look forward to seeing you again soon.