Total value of residential loans FY2018/19: $121,227,000
Total number of residential loans FY2018/19: 196
Despite the difficult lending environment, Kin Wong has maintained a fairly steady business, growing his loan value by 1.53% in the last year. With a high conversion rate of 95% and the second-highest number of interest-only loans in our top 10, he has earned his sixth-place position.
Wong joined the banking industry in 1995, later becoming a broker in 2001. One Solutions incorporates a number of different offerings beyond fi nance. It includes help with lending, financial advice, property, accounting, insurance and even wellbeing.
Having written almost 200 loans in FY18/19, Wong attributes his success to his team and the clients who refer business to the brokerage. His relationship with clients is very important to him.
“Relationship is what our business is built on, so our approach is to treat all our clients as number one,” he says.
To build those relationships, he says it is important to understand the client’s vision and “implement suitable solutions to help achieve their goals”, whether these are financial or life goals.
He says this attitude to his clients will stand him in good stead as the industry moves towards a best interests duty regulation. Having always put the customer’s interests ahead of his own, Wong says the transition will be easy when the duty is enforced.
To overcome some of the challenges of the last 12 months, which not only the broker industry has faced but borrowers too, One Solutions has introduced new tools to help its customers navigate the difficult environment.
“We have implemented a lot of user-friendly budgeting calculators for clients, and educate them so they understand their current position and what they need to do to achieve their fi nancial and lifestyle goals,” Wong says.