MONEYQUEST’S LARGEST FRANCHISE SOLD TO OUTGOING LIBERTY NETWORK SERVICES STAR
Industry icon and billion-dollar broker, Paul Wright, has sold his MoneyQuest Wollongong franchise to departing Liberty Network Services Adviser, and the group’s highest achiever for 2020 and 2021, Dino Di Donato.
The contract of sale for the MoneyQuest business was signed by the two Wollongong-based brokers in early September, with settlement taking place yesterday afternoon.
Mr. Wright, who was crowned ‘Regional Broker of the Year’ at the 2020 Australian Broking Awards, and MoneyQuest’s ‘Broker of the Year’ in 2018, 2019 and 2020, has carved out a highly successful career over the past two decades, which culminated in him reaching one billion dollars in paid settlements in August 2021.
Mr. Di Donato has also enjoyed his fair share of success. He received Liberty Network Services’ ‘Highest Settlement Achiever’ award in 2020 and 2021 and has been presented with numerous network accolades over the past five years, including ‘Rookie of the Year’ in 2016, the group’s ‘Customer Service Award’ in 2018, and ‘Advocate of Year’ in 2019.
Whilst Mr. Di Donato’s sights had initially been set on purchasing a loan book to maintain the exponential growth of his business, his plans quickly changed when the opportunity to tender for a business of MoneyQuest Wollongong’s calibre arose.
“I enjoyed my time at Liberty. They helped to kick-start my career and provided me with the support and guidance I needed to get my business going, which I’ll always be grateful for. But when I looked at Paul’s business and learned more about MoneyQuest, I thought, I don’t care if I have to throw in everything but the kitchen sink, I’m doing this.”
Mr. Di Donato is not only delighted to be acquiring MoneyQuest’s largest and most successful franchise, but is also looking forward to becoming a valued member of the MoneyQuest network.
“I have been very impressed with MoneyQuest so far. I wanted to stay with a boutique group that provides high quality, ongoing support, and focuses on building sustainable businesses, and that is MoneyQuest to a tee. They have an experienced head office team in Melbourne that I can lean on and learn from, and I’ll certainly benefit from their Customer Journeys fintech platform as it will allow me to focus on generating new business. It all feels really good,” Mr. Di Donato said.
Now that he owns MoneyQuest Wollongong, Mr. Di Donato is looking forward to expanding his team, growing the business further – especially in the commercial space – and servicing the Illawarra community from two office locations.
“For me it was really about growth. I came to a point where I had grown my business organically as much as I could, and it was time to make the next move, set myself up, and expand my team,” Mr. Di Donato explained.
“I’ll run the business out of two locations. I have an office in Windang which I’ll re-brand as MoneyQuest and open by appointment only, and I’ll also work from Paul’s facility in Wollongong. Paul is well known in our local area and has built a very strong business, and I am excited to maintain the incredible work he has been doing in the residential space. But I also saw a great deal of growth potential in his book, especially on the commercial side of things, and that’s what I’m most excited about.”
For Mr. Wright, after 20 years of mortgage broking, it was time for a change. He plans on taking a well-earned break to recharge his mind and body, but is also eager to give back to the industry that served him well for so long.
“I reached a stage where I realised that I needed to get out there and do something a little bit different, from a personal and professional development point of view. Being 47, I’m not ready for retirement, and the reality is there is still more I want to contribute to this industry. I’ve learnt a lot over the course of my career, so after I have enjoyed a few months off, I am excited about moving into an area that I think has a lot of opportunity, which is helping other brokers with growing their businesses,” Mr. Wright shared.
Mr. Wright will commence a mentoring role with MoneyQuest in the new year.
“I genuinely enjoy assisting and educating others, so I’m looking forward to sharing my knowledge with the MoneyQuest network in a more official capacity. I’m excited to share the systems, processes, and little tweaks here and there that worked for our business, which will hopefully propel MoneyQuest franchisees – both in the larger cities and in regional areas – to where they want to go. I’d also love to help improve the average dollar value of settlements that each broker writes and see MoneyQuest lead the market in terms of settlements per broker,” Mr. Wright said.
MoneyQuest Australia Managing Director, Michael Russell, lauded Mr. Wright for his remarkable career and the exceptional service and care he has provided to all those that he has worked with over the journey.
“Paul’s contribution to the people of Wollongong and the broader mortgage broking community over the past 20 years has been enormous. He’s been an incredible mortgage broker who has always cared greatly for his customers and staff. In recent times, his monthly submissions have exceeded $20 million, and this augurs well for Dino in 2022. We are thrilled that Paul is going to remain a valued part of the MoneyQuest family as he steps into his new mentoring role. We have no doubt that our franchise owners will benefit immensely from his wisdom and experience.”
Mr. Russell also spoke highly of MoneyQuest’s newest recruit.
“Dino is a seriously impressive broker who has achieved a great deal in a short period of time. We couldn’t be happier to be welcoming such a talented and highly regarded finance professional to our group. MoneyQuest Wollongong is in great hands.”
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