Consistency, clarity, Liberty

• Name: David Smith
• Role: Chief distribution officer
• Company: Liberty
• Years in the industry: 20+
• Recent career achievement: Named an MPA 2025 Global 100 Mortgage Leader

Two years after joining Liberty as chief distribution officer following more than 15 years at Aussie Home Loans, David Smith has made himself comfortable. Having taken the wheel of the broker channel at the prominent non‑bank lender, he has become the face of a strategy built on consistency, communication and adaptability – non‑negotiables in the cutthroat world of alternative finance.

It helps that he jumped aboard a well‑oiled machine that has, over multiple decades, established itself as a non‑bank powerhouse with brokers at the core of its identity.

With almost 30 years behind it, “Liberty has a clear sense of purpose and curiosity, and that really shows in how people work together,” Smith tells MPA.

“Liberty has always represented choice and possibility. From the beginning, our free-thinking mindset has guided the way we approach lending.”

But while he has taken command of a ship with its rudders firmly in place, Smith is not one to sit back and let the tide take its course. He is acutely aware that past success doesn’t guarantee future relevance, particularly in a market where new entrants emerge quickly and customer expectations reset constantly.

“Spending more time listening to brokers and focusing on clarity and consistency has been incredibly rewarding”

Smith has proactively navigated major challenges over the past two years while keeping Liberty’s competitive edge and service proposition at the front of brokers’ minds.

On the Moula

There has been no shortage of challenger brands moving into the alternative lending space in recent years, while an increasingly bullish private credit market is upping the stakes for what was already a competitive environment.

Amid this diversity of financing options, brokers’ and clients’ demands for fast turnaround times, flexibility and high-touch support from BDM and credit teams are as high as they’ve ever been.

All the while, the macroeconomic environment has been wildly unpredictable, punctured by wild swings in funding costs, consumer sentiment marred by cost of living pressures and, more recently, an energy crisis spurred by Middle East conflict with profound implications for the domestic mortgage market.

For Smith, doubling down on what makes Liberty unique, while implementing improvements where necessary, has been a fine balancing act.

Diversification has become a strong focal point, with offerings across SME, SMSF, commercial, asset finance and personal lending only becoming more sophisticated over the past 24 months.

To supercharge its SME capabilities, Liberty acquired a controlling stake in cash flow lending specialist Moula last year, effective from 31 December 2025. Smith is excited to see where this relationship goes.

“[Moula’s] digital-first technology and credit expertise complement our own approach and help brokers with business clients who need fast and flexible options,” he says.

“For brokers, a diversified offering means more opportunity. It helps them meet more customer needs, build deeper relationships and grow their businesses with confidence.”

Whether it’s through expanded SME offerings, SMSF lending advancements or updated residential lending policies, Smith stresses the importance of keeping brokers in the know.

“I’ve enjoyed strengthening the way we respond to brokers in a market that’s been moving quickly,” he says.

“Spending more time listening to brokers and focusing on clarity and consistency has been incredibly rewarding. Trust really comes from consistency. We put a lot of focus on being easy to work with, responding quickly and communicating clearly. When brokers feel they can rely on us, everything else falls into place.”

Smith makes sure his team is laser-focused on actively listening and responding to broker demands. “Whether a broker works with us regularly, or is yet to, their feedback helps shape what we do next. If they tell us they need more speed, more clarity or more support, we take that seriously.

“We always encourage brokers to reach out early in the process. Our team is great at exploring options, and a quick conversation often opens pathways that aren’t obvious at first glance. Over time, that builds genuine partnership.”

But the challenge isn’t always about keeping up – it’s about continually raising the bar.

“By listening closely and staying adaptable, we make sure Liberty strives to become a leading partner in all environments.”

The virtue of curiosity

Reflecting on the personal attributes that allow him to excel in his role, Smith highlights the importance of resilience in a fast‑moving industry. He understands the virtue of cutting through the noise and staying focused on what matters, while maintaining a sense of curiosity. Staying aware of industry trends and broker pain points is a must‑do.

“In my role, determination, collaboration and communication are essential. You need to bring people together behind shared goals and deliver consistently for brokers. And you need to take accountability. Brokers trust us to support them, and earning that trust is something we work on every day.”

Empathy also matters. “When you understand the pressure brokers are under, you can design processes that make their lives easier.”

Outside of work, Smith understands the virtue of maintaining a balanced approach to life, and he always makes sure to set aside time for other interests.

“Travelling gives me perspective, and I always love to visit somewhere I’ve never been before; even better if there happens to be a Formula 1 Grand Prix there!”

Looking forward

Despite the abundance of industry-wide challenges, Smith reckons the future is bright for Liberty and the alternative lending space as a whole. If anything, market pressures have highlighted how important responsibly operated alternative lenders truly are.

“Customers benefit from having choice, and alternative providers play a key role in making that possible,” he says.

“Liberty is in a strong position, with solid momentum across our products and a distribution network that continues to perform well. The focus now is on building on that strength and finding even more ways to improve the experience for brokers and customers.”

As for what’s next, Smith wants Liberty to continue being seen as a trusted and reliable partner – and to reiterate, one that offers “free-thinking solutions”.

“More broadly, I want our brand to represent accessible finance backed by genuine care for customer outcomes. A brand that continues to evolve while staying true to the values it was built on.”