Mortgage brokerage franchise Resolve Finance is celebrating after settling $1.5 billion in loans during 2022.
Resolve Finance, which has offices in Perth, Bunbury and Melbourne, attributes its success to its mortgage brokers, with more than 70% of them aged under 50 and a mix of female and multilingual franchisees joining the business. The franchise network achieved average annual growth of 67% over the past five years, which the company says was fuelled by strong organic growth and market conditions.
Resolve Finance’s managing director Don Crellin (pictured above left) said the traction created by having a diverse group of mortgage brokers was reflected in the success of the business, which featured a business model that enabled mortgage brokers to do broking their own way.
“We are thrilled mortgage brokers are responding to our offer and looking to engage with us, so we can bring our fresh and energetic approach to more brokers” Crellin said. “This is a competitive space but not all offers are the same and it’s important that our profession is more representative of the diversity in the Australian population.”
Crellin said since the franchise model started in 2017, Resolve has grown its network to more than 40 partners across Australia.
“Our growth has been exponential as our teams’ efforts in the recruitment space and the evolution of our model has enabled us to have the capacity to service more customers which has become increasingly important in the current rising rate environment,” he said.
“Borrowers understand the importance of turning to their broker to find a product that’s right for them and our franchise partners are here to help. To meet the demand, we continue to welcome the increased level of enquiry from prospective franchise partners as we grow our community of committed brokers to ensure we are sufficiently resourced to service Australian borrowers.”
Resolve Finance Derrimut franchisee Niti Bhargava (pictured above right) is on a mission to educate women about the importance of looking after their finances.
Bhargava is originally from India and migrated to Australia 18 years ago. She told Australian Broker in December that she had worked in banking and finance for over 10 years, including as a banker at Commonwealth Bank.
“During my career in the finance industry, I have seen an alarming gap in the knowledge of females lacking an understanding when it comes to their financial circumstances, especially those women who have relocated to Australia from countries in Southeast Asia,” Bhargava said.
“So, I decided three years ago when I started my own business that it was the perfect time to start giving back to my community.”
Mortgage broker Chitra Suppiah joined Resolve Finance in 2022 after meeting with other large mortgage broking firms about opportunities to work with them.
She said the control and flexibility Resolve offered in terms of when and where she worked was very attractive, as was the ability to choose a market segment and align it to her own interests and values.
“As a family, we are very actively involved in the community, so sponsoring sport and events that we are passionate about felt like a very natural way of getting involved in the community at a grass roots level,” Suppiah said.
“I feel very supported by Resolve, having access to a dedicated mentor and robust training program has enabled me to continue to grow my business and improve my service offering. But the culture is what makes Resolve unique and being part of a community of supportive and like-minded professionals has been great.”
What do you think of Resolve Finances success in 2022? Let us know in the comments below.
