MBA: West End Mortgages managing director Graeme Nichols

I was fortunate to grow up with friends who played sports professionally, both in the UK and overseas.

Through these relationships I came to understand the financial challenges that professional athletes faced, compared to those of borrowers with more conventional jobs.

The clients appreciate my aim: to ensure I remain firmly on the sidelines and provide a safe pair of hands

Many sports professionals are high earners, meaning they can afford to buy more expensive homes with higher mortgage values. Contracts tend to change regularly, every two to three years. A lot of professionals also move club throughout their career and this can lead to relocations, new mortgages and porting opportunities.

Developing part of my offering to cater to sports professionals didn’t require any unique training. However, as a sports fan I was genuinely interested in the mechanics of the contractual side and was exposed to that through friends and contacts.

Taking a genuine interest in the careers of your clients is always welcome and shows a level of care and attention to detail

Friends also helped by introducing me to players and sports agents. Over time, this led to a detailed understanding of the specific needs of a sports professional.

Holistic approach

I take a holistic approach and look to support my clients over the long term. It’s key to understand that, while the potential for high earnings is there, contracts are often much shorter.

My main goal is to make sure their mortgage remains affordable over the long term, ensuring peaks and troughs in their career — where their salary may rise and fall — are planned for and navigated accordingly.

In dealing with professional athletes I regularly have fresh talent coming through the pipeline

There are many ways to effectively market to sports professionals. Sponsorship is probably the most obvious one and has the potential to bring in a cross-section of clients, from players to fans.

Relationships with sports agents are also beneficial because most have a responsibility to ensure their clients are well looked after across various aspects of their life.

Developing part of my offering to cater to sports professionals didn’t require any unique training

Opportunities to attend sports-related social events are always a great way to grow your circle. I have also delivered presentations to groups of sports teams, which were well received. Social media strategies can be effective in ensuring maximum visibility to your target audience and they enable you to target geographical areas and age profiles.

Such a specific specialisation also helps mitigate risks other brokerages face. For example, in dealing with professional athletes I regularly have fresh talent coming through the pipeline as people are continually signed to (and depart from) clubs. The short nature of their contracts means it’s important to speak to clients every year to keep up to date.

I have delivered presentations to groups of sports teams, which were well received

This doesn’t have to come from a business angle.

Taking a genuine interest in the careers of your clients is always welcome and shows a level of care and attention to detail.

The clients appreciate my aim: to ensure I remain firmly on the sidelines and provide a safe pair of hands to deal with any financial aspects so that they can fully focus on their sporting career.

This article featured in the May edition of MS.

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