As products converge, client relationships and lender partnerships are becoming the real differentiators
This article was produced in partnership with MERIX Financial
Rachelle Gregory (pictured) did not picture herself in the mortgage industry when she finished her English literature degree. But when the opportunity arose to join MERIX Financial in its earliest days, she was drawn to the chance to help build something that put people and relationships at its core. Twenty years later, that focus remains central to how MERIX operates and how it thinks about the broker-lender relationship.
That commitment to relationships has defined MERIX’s growth and remains the reason many brokers who started working with the company 10, 15, or even 20 years ago are still doing business with it today.
“It didn’t feel like going to work,” Gregory says of those early years. “It felt like we were building something together.”
Building client loyalty through inclusion
“Our belief is that the broker should remain part of the client relationship for the full life of the mortgage,” she explains. “They are the person the client trusted first.”
MERIX Trailer model is designed around that principle. Brokers who meet renewal thresholds receive a dedicated renewal specialist who keeps them informed of clients approaching renewal and includes them in every stage of the conversation. The company also pays brokers annually for as long as a client remains under the Trailer model, reflecting the ongoing value they deliver beyond origination. The result is improved retention.
Adapting to a changing market
In its first decade, the lender established itself as one of Canada’s fastest-growing lenders. The last 10 years have focused on innovation, particularly in technology and product development.
Since 2021, following its acquisition by MCAP, the company accelerated technology upgrades, launching a new underwriting system and a redesigned broker portal to improve communication and reduce administrative burdens.
“If you have a happy underwriter, you are going to have a happy broker,” Gregory says. “We wanted to give our underwriters better tools to serve our brokers.”
MERIX also undertook a significant refresh of its visual identity, not as a cosmetic exercise but as a strategic move to meet a changing market where first-time buyers now represent a powerful share of demand. The company deliberately moved away from the staid, aesthetic. Gregory argues that this is not just about branding but about relevance.
The launch of MERIX’s new website marks a meaningful milestone in its journey, created to deeply connect with a growing, digitally savvy community. It offers both brokers and homeowners a personable space filled with useful resources and tools – helping brokers confidently introduce the brand and guide clients seamlessly, every step of the way.
Specialization as a strategy
In a competitive lending environment, focus has become a key differentiator. MERIX deals exclusively with mortgage brokers and concentrates solely on mortgage products. That clarity of purpose builds trust and strengthens partnerships.
“We do mortgages, and we do them really well,” Gregory says. “We are not upselling credit cards or personal lines of credit.”
And while mortgage products often look similar across the industry, Gregory believes the real differentiator is the quality of the relationship.
“At the end of the day, everyone has a five-year fixed and a five-year variable,” she says. “What matters is the relationship.”
Rather than focusing on selling rates, training is centered on understanding brokers’ business goals and finding ways to support their growth. The objective is to become a long-term partner in building their business, not just a lender behind a single transaction.
Listening and responding to client needs
MERIX broker-first approach also shapes how it responds to changing client behavior. In 2023, the company noticed more homeowners calling its contact centers with questions about budgeting and refinancing. Many were reluctant to speak with their brokers due to concerns about personal debt.
Rather than treat this as a narrow product issue, MERIX launched Money Manager, a free budgeting tool available to anyone. It includes a “send to my broker” feature that encourages clients to reconnect with their broker and approach financial decisions more holistically. Sagen’s annual surveys highlight budgeting as a top concern for first-time homebuyers, and this tool helps brokers build trust and attract new clients.
Gregory sees the opportunity clearly: “If a client thinks of you as someone they call every five years, you’ve missed the mark. But if they see you as the person who helps them make smart decisions about their home and their money, that’s when loyalty really begins.”
