Describe your firm in a few sentences

In 2017, I established Ocean Mortgages as a sole practitioner, following two decades in the banking industry. Initially, I grew the business through mortgage leads from friends, family, VouchedFor and Unbiased.

By 2018, the business had grown sufficiently to recruit an office administrator.

The company soon became directly authorised and, as we continued to expand, we noticed further niche areas in the industry, which prompted the development and creation of our additional companies: Ocean Equity Release (2019), The Mortgage Girl in (2020) and The Equity Release Lady in (2021).

My advice to a new broker is that the fundamentals work for a reason

Our team, while small (under 10), comprises highly experienced advisers and newly qualified advisers and apprentices, all of whom are motivated with the same client-focused ethics. An essential component of our development has been to recruit people who hold the client at the heart of their work.

Our youngest apprentice, aged 18, will sit her first CeMap exam shortly and I am confident she will become one of the youngest mortgage advisers in the country. And our first self-employed adviser joined us last month as The Mortgage Girl and The Equity Release Lady Kent.

What led you to become a broker?

Having had a 15-year career in the banking industry, I decided I wanted to build my own mortgage business in the Southwest of England.

What plans do you have for the future of your firm?

Over the next 18 months, we intend to take on a further 10 advisers, growing steadily at a pace with regular intakes.

Our franchise business model, which allows advisers to shape their business with our support, has proven successful to date, with advisers approaching us from Wales, Cornwall, Somerset, Berkshire, Hampshire, and Wiltshire, all keen to join our brand with all the support (including specialist mentoring) required to generate a successful business.

A huge number of men and women in their late teens and early 20s are desperate for a career and not a job

Our first experience of award ceremony nominations took place this year when we reached the final of the Mortgage Strategy Equity Release Broker of the Year 2021. This was a huge honour.

I encourage all brokers to enter at least one competition each year. The application process encourages a wealth of reflection, and lets you consider the strengths and development opportunities of your business, and niche areas that could be pursued.

What single thing could lenders do to improve brokers’ lives the most?

A key relationship for any broker is that of the business development manager. Mortgage lenders should ask brokers who is the best BDM they deal with and why, and then recruit and develop BDMs such as this. Many brokers struggle to get hold of a BDM, especially from the biggest lenders.

The industry is receptive and keen to support new advisers in building their businesses

What advice do you have for a broker just starting out?

My main advice to a new equity release broker would be to remember that the fundamentals work for a reason. Focusing on the clients’ needs and circumstances as the main and central requirement for the business will ensure that all associated business goals grow from the necessary ethics.

Lenders should ask brokers who is the best BDM they deal with and why, and then recruit and develop BDMs such as this

Most advisers will have experience of all the marketing, computer systems and compliance processes that a new adviser would consider. Joining an adviser forum or Facebook group for feedback and ideas is an excellent start.

The industry is receptive and keen to support new advisers in building their businesses.

How can the industry encourage a new intake of brokers?

I am not sure if ‘the industry’ can do this, or should be responsible for it. It is down to the entrepreneurial spirit of individual firm owners to analyse their own business and see how they can take it to the ‘next level’.

There are a huge number of men and women in their late teens and early 20s out there who are desperate for a career and not a job.

Joining an adviser forum or Facebook group for feedback and ideas is an excellent start

Over the past 12 months, we have been actively recruiting this calibre of people via apprenticeships and they are already taking CeMAP exams.

If you would like your firm to be featured in Broker Focus, please email Mortgage Strategy deputy editor Gary Adams at: [email protected]