Heading up the leading commercial brokerage in our Top 10, Daniel Green faces a different set of challenges to the rest
Green finance Group isn’t just a long-running Top 10 Independent Brokerage. Its founder Daniel Green and several of his brokers have also been featured in MPA’s annual Top 10 Commercial Brokers reports, and Green Finance Group offers a vast array of services beyond residential lending, financing everything from pubs to hair salons.
“Commercial and equipment finance makes up the bulk of our business and this isn’t going to change,” Green explains. “Naturally we provide a one-stop shop for our business clients, which ensures we also cater to personal and home finance as well as insurance and financial planning needs, so I’d be more likely to say it’s our commercial expertise that brings clients in the door and the diversification of services that keeps them there. It’s a simplistic approach but it works!”
This diversification has helped insulate Green Finance Group from lending changes this year, but residential lending remains part of Green’s one-stop shop. This year the brokerage expanded its residential lending arm into northern NSW and has been advising residential clients on how they can minimise costs, for example by switching from interest-only to P&I while banks still allow this for free. Quality residential advice is paying off, Green believes. “We are starting to see the benefits of cross-border relations with commercial referrals, and it’s proved a rewarding challenge for the team.”
ASIC’s review of broker remuneration excluded commercial lending, and Green’s not worried in any case. “I’m certainly not putting my head in the sand on the matter, but we’ve weathered changes of this nature previously and I’m confident that a commercially viable solution will be found that will work for professional brokers.”
The brokerage is continuing to hire, taking on new commercial brokers in April and May and looking to rebuild its residential lending team in Queensland, having sent some members into NSW. “The aim is to grow the residential component of the business, which will see the recruitment of at least two to three new resi brokers in the short term,” Green says. “Realistically, recruitment is always a focus, but I’m not interested in bums on seats; they’ve got to be experienced, passionate about the business, and the right fit for the team.”
As a commercial broker, Green sees plenty of businesses that have failed to control costs, but Green Finance Group isn’t one of them. “I am acutely aware that for the right activities you have to spend money to make money, and we constantly measure performance and change spending behaviours to generate a greater return.” He’s confident the brokerage is well placed for future lending changes. “Changes are inevitable, but we will always go in to bat for our clients with a view to negotiating better loan terms and conditions.”