Profile
"West Oak’s success has come from always putting our clients’ best interests first and always finding ways to improve and add more value to them"
Andrew mcquiston,
west oak family office, wellington-altus private wealth
Rethink Financing director Son Pham likes cracking the tough nuts.
If a client is turned away from a bunch of other brokers with a gnarly loan request that has been turned down all over town, Pham takes notice.
“That really drives me to see if I can do something with it,” he says.
“In some cases, I can’t. But it’s really rewarding when I know that they’ve tried all these different brokers who can’t do it, but then I’ve been able to do it.”
The can-do attitude and the ability to think outside the box has served the firm well over the last year.
It doubled its business in the 12 months to December 2021 in commercial loans settled, while staff numbers have grown from three brokers and one support staff to nine brokers and two support to now four.
A tie-up had blossomed and is funnelling a lot of business his way, but the pandemic had also been a tailwind for the mainly commercial loan-focused firm, he says. Clients had not been affected by lockdowns.
“If anything, they probably had more money than ever.”
Various trades and sectors, such as IT, are solid sources of business and there is also money floating around from government stimulus that would normally have been spent on travel and new cars, he says.
Business had been so good that some repo firms Pham knew were despondent about how healthy the economy was. With interest rates at an all-time low, Pham says it had been a “perfect storm” for the mortgage industry.
As the economy goes back to a more even keel, the prospect of withdrawal symptoms from all the easy money that had been available was a possibility. Banks have already increased interest rates and there is much more to follow.
But Pham says that numbers at Rethink have held up so far and there was not much evidence of any slowdown for him yet. Many of the firm’s clients are highly experienced and take such cyclical factors in their stride as long-term churn that would eventually even out. High inflation was also not a concern. Commercial property leases generally have CPI increases built in. Each year, the yield would also increase, which would mean that Rethink would eventually get back to the 7%–9% yields it had in the past.
“Our clients aren’t too focused on rate.”
He points out that even if property prices were to drop 10% in the next year, his clients would still be in the black because he had been telling them at the beginning of the pandemic to invest in some of the bargains available based on sound fundamentals.
He says some people had mistaken COVID for an economic crisis rather than the health crisis that it was.
The challenge now is keeping up with the amount of work that is still available. Pham says trying to find adequate staff in the current environment is quite tough and taking longer than it used to, especially considering that much of the work is specialised.
“We do a lot of SMSF, trust companies, commercial property – so it’s a bit different and not all [residential] brokers can do that.”
But as long as he can continue supplying funds to clients as needed, he is not worried about any downturn.
“We’re focused on our clients and just doing the right thing for them, and the rest will come right,” he says.
“They’re coming to us because they want something from us: our knowledge and expertise.”
Son
Pham
Director and Principal Broker
Rethink Financing
Read on
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Milestones
2020
Insurance Business Magazine | Key Media
Receive an excellence award
2020
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2019
Ted Talk in collaboration with key media
TeD Talk Speaker
2019
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2018
Ted Talk in collaboration with key media
title of milestone
2018
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2020-2021
Ted Talk in collaboration with key media
Received Lexology Client Choice Award (Labour and Employment – Canada)
2020-2021
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2014-2022
Ted Talk in collaboration with key media
Received Best Lawyer in Canada Award (Employment and Labour Law)
2014-2022
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2014-2022
2020-2021
2018
2019
2020
Special Report
Home
Bio
Milestones
Profile
Milestones
2022
Insurance Business Magazine | Key Media
Smart Mortgage was recognised
as Best Performing Team
(first half of financial year 2022)
2022
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2020
–present
Ted Talk in collaboration with key media
Manager, broker division
at Finni Mortgages
2020–present
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2016–
present
Ted Talk in collaboration with key media
Managing Partner at
Link Capital Finance
2016–present
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2020–
present
Ted Talk in collaboration with key media
Expanding Rethink Financing with
more brokers and administrative
staff and implementing process
and systems to grow
Speaker on Smart Property
Investment podcast
Finalist, Better Business award
(5 brokers or more), 2022
One of MPA’s Top
Commercial Brokers, 2022
Finalist in ORB awards for Outsource Financial (aggregator) in the categories of Residential Broker of the Year, Commercial Broker of the Year, and Head Group with five or more brokers
Won Commercial Broker of the Year and Excellence for Head Group with five or more brokers (essentially second)
2020–present
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2008–2021
Ted Talk in collaboration with key media
Financial planner for CBA,
AMP and private practice
Nominated for Sentry’s
Rising Star Award, 2016
Began journey with
Rethink Financing, 2017
2008–2021
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2008–2021
2020–present
2016–present
2020–present
2022
Son Pham
Director and Principal Broker
Rethink Financing
Read on
Special Report
Home
Bio
Milestones
2022
2020–present
2016–present
2020–present
2008–2021
2022
Insurance Business Magazine | Key Media
Smart Mortgage was recognised as Best Performing Team (first half of financial year 2022)
2022
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2020–present
Ted Talk in collaboration with key media
Manager, broker division at Finni Mortgages
2020–present
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2016–present
Ted Talk in collaboration with key media
Managing Partner at Link Capital Finance
2016–present
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2020
–present
Ted Talk in collaboration with key media
Expanding Rethink Financing with more brokers
and administrative staff and implementing
process and systems to grow
Speaker on Smart Property Investment podcast
Finalist, Better Business award (5 brokers or more), 2022
One of MPA’s Top Commercial Brokers, 2022
Finalist in ORB awards for Outsource Financial (aggregator) in the categories of Residential
Broker of the Year, Commercial Broker of the Year,
and Head Group with five or more brokers
Won Commercial Broker of the Year and Excellence
for Head Group with five or more brokers
(essentially second)
2020–present
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2008–2021
Ted Talk in collaboration with key media
Financial planner for CBA, AMP and private practice
Nominated for Sentry’s Rising Star Award, 2016
Began journey with Rethink Financing, 2017
2008–2021
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Career Accolades
2020
2019
2018
2020-2021
2014-2022
2020
Insurance Business Magazine | Key Media
Receive an excellence award
2020
Lorem ipsum dolor sit amet, consectetur adipiscing elit. A volutpat laoreet suscipit duis. Diam aliquam sed ut massa viverra a, eget libero.
2019
Ted Talk in collaboration with key media
TeD Talk Speaker
2019
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2018
Ted Talk in collaboration with key media
title of milestone
2018
Lorem ipsum dolor sit amet, consectetur adipiscing elit. A volutpat laoreet suscipit duis. Diam aliquam sed ut massa viverra a, eget libero.
2020-2021
Ted Talk in collaboration with key media
Received Lexology
Client Choice Award
(Labour and Employment – Canada)
2020-2021
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2014-2022
Ted Talk in collaboration with key media
Received Best Lawyer in
Canada Award
(Employment and Labour Law)
2014-2022
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Career Accolades
Milestones
Milestones
rethinkfinancing.com.au
au.linkedin.com/in/son-pham-6b765626
son@rethinkfinancing.com.au
0466604072
4/403 Hume Highway, Liverpool NSW 2170
Director and Principal Broker
Rethink Financing
Son Pham
Read on
2019–present
2018–present
2016–present
2020–present
2008–2021
2019–present
Insurance Business Magazine | Key Media
Commenced at The Knox School in Victoria, 2019
Mentor, 2019–2020
Senior School Lead Mentor, 2021
Interim Head of House, 2021
Head of Languages, 2022
2019–present
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2018–present
Human Resources Magazine | key media
Head of Faculty in English and Languages at St Patrick’s College Townsville
2018–present
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2016–present
Year 5 Teacher
Managing Partner at Link Capital Finance
2016–present
Lorem ipsum dolor sit amet, consectetur adipiscing elit. A volutpat laoreet suscipit duis. Diam aliquam sed ut massa viverra a, eget libero.
2020–present
Human Resources Magazine | key media
Expanding Rethink Financing with more brokers and administrative staff
and implementing process and systems to grow
Speaker on Smart PropeRty Investment podcast
Finalist, Better Business award (5 brokers or more), 2022
One of MPA’s Top Commercial Brokers, 2022
Finalist in ORB awards for Outsource Financial (aggregator)
in the categories of Residential Broker of the Year, Commercial
Broker of the Year, and Head Group with five or more brokers
Won Commercial Broker of the Year and Excellence for Head Group
with five or more brokers (essentially second)
2020–present
Lorem ipsum dolor sit amet, consectetur adipiscing elit. A volutpat laoreet suscipit duis. Diam aliquam sed ut massa viverra a, eget libero.
2008–2021
human resources | key media
Financial planner for CBA, AMP and private practice
Nominated for Sentry’s Rising Star Award, 2016
Began journey with Rethink Financing, 2017
2008–2021
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Milestones