10 LOUIS KOVANIS
Genius Loan Solutions,
Total value of residential loans
FY 2014/15: $155,000,000
Total number of residential loans
FY 2014/15: 110
What do doctors have to do with finance? Well, quite a lot, if you’re Louis Kovanis. The Sydney-based broker, who specialises in finance for medical professionals, is surprised and delighted to be back in the Top 10, having been No. 8 in 2014. He’s moved to a sparkling new office in Kogarah, where “the theme is very much modelled around the medicos: top-notch – when you walk in you think you’re visiting a plastic surgeon”.
Kovanis admits the move has taken his focus off broking, but he “had to be close to the action”; Kogarah has a large number of hospital facilities, and thus medical professionals who he will be able to visit. Kovanis insists his clients are the ideal clients: they’re well paid, get favourable policies from banks (including up to 90% LVR), and aren’t affected by recent APRA changes. It’s because of them that Kovanis’ average loan is by far the biggest in this list – an impressive $1,409,091 – despite still being a lone broker with just one supporting staff member.
Medical professionals are, however, extremely busy, which is why Kovanis is moving to their doorstep, and they rely on referrals to find brokers. Kovanis has built up a network of satisfied clients, but has other plans: “I’m actually expanding interstate now, into Victoria … I’m sponsoring medical conferences; I did a big sponsorship of a cardiology conference recently … the convener was my client.”
Kovanis doesn’t advertise, however, because he wants to focus on high-level professionals: “You don’t want to start reinventing the wheel; look at the changes that are occurring but don’t necessarily change your model.”
Now established in the new office, Kovanis is ambitious about rising even higher in the Top 100: “My turnover will be a lot higher; I’m going to be in the top five next year.” Although working in a niche area, Kovanis believes he faces the same challenges as all brokers: “You’ve got to keep on top of the game; it’s not only other brokers, it’s private bankers. Everyone’s your competition at the end of the day, so you’ve got to keep in touch with your clients, keep them up to date, and make sure you deliver exceptional service, the best products, be fully transparent and have integrity.”