He transforms from loan writer to top adviser
Cameron Muggeridge’s rise from loan writer to top mortgage adviser at Loan Market Central highlights how staying flexible and always learning can lead to success in the mortgage world.
From loan writer to accredited mortgage adviser
Muggeridge (pictured above) has swiftly risen through the ranks at Loan Market Central since his start in October 2017.
Initially joining as a loan writer and working closely with Cam Marcroft in a two-person business, Muggeridge quickly adapted to the fast-paced environment, learning the intricacies of mortgage advising on the fly.
“It was pretty much sink or swim,” he says, highlighting the steep learning curve he faced early on.
As the business expanded, so did Muggeridge’s skills and proficiency as a loan writer, fueled by varied experiences and opportunities at the company.
Muggeridge’s dedication and hard work culminated in his accreditation as a mortgage adviser by November 2021.
Embracing change and opportunity
Muggeridge witnessed firsthand the industry’s resilience and adaptability, particularly during the COVID-19 pandemic and following the Consumer Credit Contracts and Consumer Finance Act (CCCFA) reforms.
“COVID… normalised access to people through technology, this saw the market share for brokers skyrocket, as banks were very difficult to access at this time and shutting down branches,” Muggeridge says, highlighting how the pandemic has positively influenced the broking industry by promoting choice and holistic advice.
“The CCCFA policy had a similar effect on the broker industry with growth in market share, the media, and the stories of declines with banks due to the tightening of policy saw clients seeking independent advice via advisers on how to tackle these concerns to get their home loan approved,” he says.
Navigating industry challenges
Identifying market knowledge as a current challenge, Muggeridge advocates for advisers to stay informed on legislative changes, economic indicators, and market trends.
“It is quite a simple solution to be the trusted adviser for your clients, it is time-consuming but is important and it is by staying up to date… as an adviser we need to have a fundamental foundation of knowledge in all areas of finance and even laws,” he says.
Memorable experiences shape future direction
One of Muggeridge’s most challenging experiences involved assisting a client who found himself in a precarious financial position after an unconditional property purchase. Through empathy, composure, and strategic problem-solving, Muggeridge managed to navigate the client through this stressful scenario to a positive outcome.
“This instance was invaluable to getting the trust of the client,” he says, illustrating the profound impact mortgage advisers can have on their clients’ lives.
Advice for aspiring mortgage advisers
For those looking to enter the mortgage advising field, Muggeridge emphasises the importance of openness to change, continuous learning, and self-improvement.
“There is always a better way of doing something... and there is always more to learn,” he says. Engaging with the community, being receptive to feedback, and understanding diverse advisory approaches are crucial for success and client satisfaction in this dynamic industry.
Muggeridge ranked among NZ Adviser’s Top Advisers for 2023.
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