Growing up in a low socio-economic area in Whangarei two hours north of Auckland in New Zealand and fleeing a violent family situation aged just 13, taught Amy Howard, Principal and Founder of Southstead Finance, two important lessons; never judge a book by its cover and that financial security enables greater life choices.
After spending her teenage years in and out of foster care and feeling very displaced, Amy was determined to create her own sense of home by buying her first property, which she achieved as a young adult. These early life experiences have shaped her approach to her Mandurah-based mortgage broking business where her vision is to “connect clients with the lifestyle they desire.”
“I was determined from a young age to make my own path in life as I knew I couldn’t rely on others,” Amy said.
“I started working full-time at 16 in sales and management and brought my first home when I was 20. It was one of my most proudest moments and it showed me how owning a property at a young age can give you the freedom to live the life you want in the future.
“Investing in property also helped me establish Southstead Finance in 2020 specialising in residential lending and after many years working at a major bank, this business has created a flexible lifestyle, rewarding and challenging career. I am currently working solo, am a mobile broker and enjoy no boundaries. I am so passionate to help others achieve home ownership for whatever their reason and simply love what I am doing.”
Over the years, Amy has seen how poor financial choices have impacted her family who remain in New Zealand. She has five siblings, two who have spent time in jail and in recent years watched helplessly as her mother gambled away a sizeable family inheritance.
“I could have easily gone the other way – but I was determined to seek out a better life,” she said.
“My experiences have been such a catalyst in my life and everytime I do go back home it just gives me a thirst for wanting to do more for myself and to help others.”
Given Amy’s motto of never “judging a book by its cover”, she loves the role brokers play in helping diverse customers buy homes and accumulate wealth. In addition to being a fully qualified mortgage broker, she also has a Diploma in Financial Planning and says that helps her take a more wholistic view of people’s financial circumstances, whatever their background.
“I remember a situation of helping a couple buy their first property together, where the male partner was heavily tattooed and had spent his younger years in prison,” she said.
“He had subsequently turned his life around and they were keen to buy their first home to provide financial security for their family and feel a sense of pride and achievement.
“On first meeting them I could have so easily judged that book by its cover but by just taking the time to get to know them I got a new sense of appreciation for who they were and was able to help them and as a result I’ve had quite a few referrals from them.”
Amy has a very diverse customer base including clients from New Zealand and the UK, and diversity of race, gender, age and disability. Given this, she believes it is is imperative for the mortgage and finance industry to embrace diversity and, that by being inclusive, brokers are better at their jobs because it makes them more empathetic, smarter and non judgemental.
“We need diversity if we are to change and grow as a person in society. It brings different skills, knowledge, and opinions to help solve problems and provokes new thinking in teams and within the community,” she said.
Having started her career in banking at GE Money and ANZ, Amy benefited from being surrounded by supportive female role models and says it is disappointing to see the representation of women so much lower in broking.
“We are a trusted professional industry, so attracting the best diverse talent is important and we need to make this a priority,” she said.
She believes that the perceived lack of security of earnings could be a major barrier to women entering and staying in the broking industry and more needs to be done to promote the success stories and vast support that women have to succeed as brokers.
“There is still a lot of old-school mentality in the industry- people’s beliefs and upbringing can lead to having a closed mindset, we need to see more shining examples and hold them to the highest regard, showing that is the standard,” she added.
Just two years into her broking business, Amy says she is still learning many lessons but believes her secret to success is building discipline into her daily routine around sensible habits, always focussing on self-care and self improvement, surrounding herself with good people and having big, but realistic goals.
And knowing what she knows now what would be Amy’s advice to her 13-year old self?
“Be unapologetic for what you believe is right and go after what you want and don’t be too scared along the way as this time will pass and the small stuff doesn’t matter – the person you become is more important than the process,” she concluded.
Champions of Diversity is brought to you by Teachers Mutual Bank Ltd and is part of MFAA's Opportunuties for Women initiative. Find out more about the intiative and read the 2022 report.
