Helping families thrive through smarter mortgage guidance
Katrina Studholme (pictured) recently chatted with NZ Adviser to share her journey from banking to founding Total Wealth, offering insights on industry challenges, client-first advice, and the importance of education and support in broking.
A career built on purpose
Studholme began her journey in mortgage advice in 2001 when she joined the banking sector. What started as a role in traditional finance has since evolved into a career defined by community impact and multigenerational support.
“I first became a mortgage adviser in 2001 when I joined the bank,” she said.
In 2013, she founded Total Wealth, and by 2020, Studholme turned her focus more sharply toward mortgage advice, a shift driven by her existing clients.
“I began focusing on providing mortgage advice in 2020, driven by my clients’ requests to support their children and grandchildren in structuring their mortgages appropriately,” she said. “My goal has always been to help families achieve their financial aspirations.”
From broker to adviser: A shift for the better
Studholme believes the industry has seen an important evolution over the years—one that puts the client at the heart of the process.
“A significant positive shift in the industry has been the transition from brokers to advisers,” she said. “This change has led to the emergence of better-qualified, more professional, and client-centric advisers who prioritise the financial well-being of their clients.”
Tackling today’s industry challenges
Despite progress, challenges remain. Studholme highlighted outdated processes and inconsistencies in how advisers are treated compared to bank staff.
“Currently, the industry faces challenges like unacceptable wait times with banks and channel inequality, as well as an outdated commission structure,” she said.
To fix this, Studholme proposed enhanced staffing, better technology, and a more equitable commission model.
“I also advocate for a commission structure that includes trail income, as ongoing advice is crucial for helping clients manage their financial goals long after the loan is secured,” she said.
A high-stakes lesson in risk management
Among Studholme’s most memorable experiences was one that highlighted the critical need for informed advice.
“One of the most challenging experiences was when a client approached me after purchasing a property unconditionally at auction, despite having outstanding credit issues,” she said.
The situation required “persistent efforts and creative thinking” to secure financing. The client was at serious risk of losing their deposit.
“This experience taught me the importance of a methodical approach in assisting clients while ensuring they fully understand the risks of buying at auction without prior financing,” Studholme said. “It highlighted the need for real estate agents to have better systems in place to prevent such situations.”
Advice for the next generation of advisers
Studholme encouraged aspiring advisers to invest in both relationships and education.
“My advice for aspiring advisers is to surround yourself with excellent mentors and never hesitate to ask questions,” she said.
She stressed the importance of strong systems, continual learning, and putting clients first: “Establish robust systems and processes that prioritize client needs and be ready to go the extra mile.”
For those with a passion for finance and a genuine desire to help others, she said mortgage advice can be deeply rewarding. However, she also cautioned about the long-term demands of the job and the importance of support systems and personal well-being.
“Most advisers will be challenged to last after 10 years, so it is important that you start well, have support from those around you and keep fit.”
