Broker. June 2021 by FBAA

June 2021

Magazine

How Can Diversity And Inclusion Support A Healthy Workplace?

Business In A New World

Have you registered for the FBAA National Industry Conference in November?

Shadé

ZAHRAI How to thrive in challenging times

Why customer strategy is critical to online success • Is your business suffering from change fatigue?

FROM THE CHAIR FBAA Chairman Tony Carter

INDUSTRY UPDATE Behind the scenes with Peter White AM

How can diversity and inclusion support a healthy workplace? By Assure Programs

Broker in business Meet Christian Stevens

why customer strategy is critical to online success By Dinesh De Silva of netStripes

Is your business suffering from change fatigue? By Integrated Human Resources

LMI A-OK? By Kitty Parker

What’s on at FBAA? Check out a list of our upcoming events

Board of directors Meet the FBAA Board of Directors

EDITOR & HEAD OF CONTENT Peter White AM MANAGING EDITOR Krystal Camilleri

24 COVER STORY How to thrive in challenging times with Shadé Zahrai

SUB-EDITORS Janet White Phillipa Byrne STAFF WRITER Rachel Licciardello CREATIVE DESIGN & PHOTOGRAPHY Jessica Camilleri Matthew Gianoulis Krystal Camilleri ADVERTISING Krystal Camilleri

36 Business in

a new world Have you registered for the FBAA National Industry Conference in November?

TELL US WHAT YOU THINK We appreciate hearing from readers. If you have feedback, news or a story idea you would like us to cover, please contact us using the below details. NEWS, ADVERTISING AND ADMINISTRATION e: editor@fbaa.com.au p: 07 3847 8119 w: www.fbaa.com.au All information and images are subject to copyright. No part of this publication may be reproduced without prior permission in writing to the Finance Brokers Association of Australia Limited. The views and opinions of the authors and advertisers do not necessarily reflect the opinions of the publisher. While every effort has been made to ensure the accuracy of information at the time of publishing, the publisher accepts no responsibility or liability for errors, omissions or subsequent consequences including loss or damage from reliance on information in this publication.

From The Chair Tony Carter

It only seems like last week when I sat down to pen an article for Broker Magazine and yet it has been five months. This year is rocketing by and there is no sign of it slowing any time soon. We recently farewelled, after 18 years’ service with FBAA, our CFO John Mulcair. John is a Life Member and held the roles of accountant and Director before CFO, and performed above and beyond all expectations. He moved to Ballarat in 2020 to retire closer to family. We wish him a long and happy retirement. Knowing John, he will quickly get involved as a valued member of the community. Thank you, John, from the Board and all FBAA members. Recently, the Board completed an annual review using the services of Barry Honey, a man with vast experience working in not-for-profit and for-purpose organisations. We examined our focus on and performance around FBAA’s Purpose Statement, identifying not only the successes but importantly how we can improve on the value FBAA brings its members. This was a most successful session and one the Board looks forward to each year. Our overall strategy focus and the initiatives we bring to value-add membership will soon be on our website. Speaking of which, the new website is now live at www.fbaa.com.au. It is a very easy site to navigate and contains an ever-increasing list of useful and important information. If you haven’t already logged on, please do so and add it to your ‘favourites’. Sadly, we are losing one of our Board. Gus Gilkeson will depart due to significant increase in demand by his business and his commitment to ensuring he has a healthy family life.

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We thank Gus for his input and wish him well – he will be back, I am sure. Currently, we are selecting State Presidents and Councillors across all states. This is important to reaffirm commitment and identify suitable people willing to give some of their time and experience to helping FBAA deliver on its commitment to members in each state. The ‘New’ Councils will be announced in November at our annual conference. As this financial year draws to a close and without stealing any of FBAA Treasurer Steve Rasmussen’s thunder, you will be pleased to hear FBAA has not only survived the worst of COVID-19, but it has found ways to introduce new initiatives such as a Member Benefits Program and the Education Institute, increase our membership numbers significantly and improve financially. Your FBAA is the right industry body to represent you – thank you members. Finally – and I would be in trouble with State Manager Leah Renwick if I left this out – a shout out to all members to register to attend the FBAA National Industry Conference 2021 on Friday 5th November. I am promised Queensland will deliver balmy pleasant weather, so why not plan a well-earned break and be part of FBAA’s signature event. Don’t leave it too late, as we must limit numbers and early booking indications show we are ahead of prior years.

Tony Carter Chairman

Bank of the Year, after year, after year. And we couldn’t have done it without our broker partners. Thank you for your ongoing support. Find out more at businesspartners.suncorp.com.au

Banking products are issued by Suncorp-Metway Ltd ABN 66 010 831 722 (“Suncorp Bank”).

Industry Update Behind the scenes Much is happening behind the scenes as the FBAA highlights the issues our industry currently faces. FBAA Managing Director Peter White AM continues conversations with government decision-makers regarding overlapping regulation, regulatory performance, and service level standards provided by banks to brokers.

Behind the scenes DEPARTMENT OF PRIME MINISTER AND CABINET TASKFORCES Earlier this year I was invited to join two taskforces for the Department of Prime Minister and Cabinet (DPMC). The first taskforce is focused on overlapping regulation, while the other is on regulatory performance. As the only representative from a professional broker association, the FBAA has its voice at the table to consult in regards to issues that impact our industry.

It is the FBAA’s position that brokers should be expected to meet the agreed standard as set out by law, and our regulator should not be able to then impose its own standard above the law. ASIC’s role is to police law, not create it. You will recall the landmark ‘shiraz and wagyu’ home lending case last year in which Westpac went up against ASIC in the federal court and won. The court ruled Westpac was compliant with the law albeit ASIC alleging Westpac had not met its responsible lending obligations.

With regard to overlapping regulation, mid-last year the NSW Office of Fair Trading introduced new disclosure requirements (Section 47B of the Act) for how businesses, including intermediaries such as brokers, communicate with customers before completing a loan application in relation to commission disclosures. This piece of regulation also redefined what is classified as what is a ‘consumer lending asset’. This conflicts with the NCCP. It creates an issue not just for brokers in NSW, but brokers around Australia who have borrowers in NSW. If you are a broker in Perth, you may not even be aware that you need to comply with this NSW regulation. How do you find something you don’t know to look for? The DPMC taskforce is keen to resolve the issue of overlapping regulations. I have put forward our recommendations, and eagerly await a response.

I have been working with these DPMC taskforces since April, liaising by teleconference and written submissions. These are powerful taskforces with regard to government-level involvement and decision-making. We are cautiously confident that we will see some good outcomes. While there is no set timeline, my feeling is that we will see outcomes this calendar year.

With regard to regulatory performance, you will be aware from previous FBAA communications and industry media that I have highlighted the issues with ASIC in overreaching the legislation as written by Treasury and approved by government.

Peter White AM Managing Director

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WORKING WITH TREASURY In regard to the issue of ASIC overreaching, we are also pursuing another avenue. I have held conversations with Josh Frydenberg and his key staff, including Chief Policy Advisor and other advisors. His office is now in communication with Treasury, working with us to define where our points of law argument stand. SERVICE LEVEL STANDARDS BY BANKS There is a significant pain point within our industry at the moment, due to banks not providing consistent service standards to brokers and the banks’ branches. We understand that it takes two or three days to get a loan through a

bank, but up to, sometimes even beyond, a month to get that same loan through that same bank’s broker division. This is highly anti-competitive, and takes away the value brokers offer to loan customers.

direct to the bank and they approved the loan in two days. We need your example to centre on one bank, one borrower and the turnaround time initially stipulated by the bank, so that the example of disadvantage is clear and succinct.

I am currently in communication with the Treasurer’s Office and ACCC regarding this issue. However, to progress this I need real examples from you, active brokers.

Please send your examples to Peter White at pwhite@fbaa.com.au.

“We are cautiously confident that we will see some good outcomes from my involvement in the Department of Prime Minister and Cabinet’s taskforce.” All evidence will be gathered in strict confidence, with your name and customer name withheld. An example could be that you submitted a loan for your borrower which the bank said would take them five days, then as you approached 15 days the borrower, frustrated with the delay, went

BEST INTERESTS DUTY Feedback from members and aggregators is that the BID process is running smoothly. It is reassuring to hear brokers have embraced the new legislation, which, in principle, will benefit our industry by increasing broker market share.

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How Can Diversity And Inclusion Support A Healthy Workplace? Organisations enjoy multiple benefits for being diverse and inclusive, and research has shown this includes growing and maintaining the positive wellbeing and mental health of their workforce. A clear advantage of creating an environment open and accepting of diversity is that employees thrive with a greater sense of safety and belonging.

As our workplaces continue to adaptto dramatic changes due to COVID-19, organisations are evaluating the mental health and wellbeing support they provide their employees, and how they can improve these services.

Mental Health and Disability Anxiety, stress, depression, and other mental health conditions can sometimes be recognised disabilities which are incredibly common throughout workplaces, even when they are not always seen. Globally, the past 12 months has seen companies and their employees rely on employee assistance program providers to deliver support and resources around mental health and wellbeing, more than ever before. Experts agree that ensuring disability is part of diversity and inclusivity strategies and conversations is essential. Increasing diversity and inclusion in the workplace is a major step employers and businesses can take to improve their mental health and wellbeing.

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Five benefits a diverse and inclusive workplace has for your employees • • • • •

Greater sense of safety and belonging Stronger resilience and ability to adapt to change More open to discuss and manage mental health issues Improved conflict resolution and problemsolving skills Increased empathy and understanding of customer needs

Five benefits a diverse and inclusive workplace has for your business • • • • •

Stronger team morale More positive workplace atmosphere More productive and engaged employees Higher employee retention and loyalty A larger, more diverse recruitment talent pool

How to get started There are many ways to improve diversity and inclusion of your workplace. Here are some simple ways to get started:

Check how diverse and inclusive your organisation is. Download APM’s Disability Diverse and Inclusion Checklist.

Learn more about diversity and inclusion across Australian businesses. APM’s Disability Diversity and Inclusivity Index provides a score for businesses to measure and includes research and insights on why it matters.

Create a business case for greater diversity and inclusion. See Headspace’s six tips for improving inclusion in your workplace.

Engage a Mental Health and Wellbeing Program provider to guide your organisation on fostering diverse and inclusive cultures. See Assure Program’s fostering diversity and inclusion tip sheet.

Partner with an organisation like Employable Me to find diverse job candidates for your vacancies.

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BROKER IN BUSINESS Meet Christian Stevens Looking for a change and a challenge, Christian Stevens left an accomplished marketing and events career to join Shore Financial. He has leveraged his social media skills to build an audience of more than 50,000, resulting in $500m+ of new business lodged this year. Before starting his finance career with Shore Financial, Senior Credit Advisor Christian Stevens worked in marketing and events within the hospitality industry, then with an award-winning app start-up, WHIZZ. During this time at WHIZZ, Christian used several automated outreach campaigns to lock in hundreds of meetings with property managers and sales agents in the real estate industry. WHIZZ won ‘App Design of the Year’ and is now the fastest growing services platform in the country. How has Christian used his past experience to boost his broking career? We asked him just that, and a few other questions.

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HOW DO YOU DRAW ON YOUR MARKETING BACKGROUND TO DEVELOP YOUR BROKING BUSINESS? With Shore Financial, I realised early on that I was not going to become the number one broker in the country by using the traditional methods. I wanted to target different demographics of clients across multiple social channels – first home buyers on Facebook/Instagram and B2B and investors on LinkedIn. I believe the best way to sell is to educate, so I founded the ‘First Home Buyers Australia’ group on Facebook. This has grown organically to more than 10,000 members and provides me with 100+ leads a week. I post daily on LinkedIn and my content reaches more than half a million people each month. Due to this, I was awarded the ‘Most Viewed’ Broker in Australia by LinkedIn. I am also the most followed broker on Instagram, with thousands of people interacting with my stories each week. Across these three social media platforms I have built an audience of more than 50,000 people.

refinanced. This refinancing was completed using four lenders, due to LVR and security restrictions, and there were several entities involved. The more complex the scenario, the more rewarding I find it. WHAT IS YOUR POINT OF DIFFERENCE? My ability to explain complex scenarios in an easy-to-understand way, especially for first home buyers who are often overwhelmed with the amount of available yet conflicting information. The reality is that most brokers have the same service offering. Those who are willing to go the extra mile by taking the time to explain the loan process, and educate their clients, will always come out on top. You would be surprised how many first home buyers, who are already working with a broker, reach out to me to ask questions. They often feel that their broker does not care or have the time to do this.

“The key difference between a $50m broker and a $250m broker is process.”

WHAT TYPE OF WORK DO YOU DO MOSTLY? The great thing about being a broker is the ability to work with clients both Australia wide and internationally. We are not restricted to a specific state or region and all our work can be completed via phone and email these days. Many of my clients live overseas in places like London, New York, Hong Kong and the Middle East. I do a lot of work with expats living abroad looking to purchase investment properties here in Australia.

YOU OFFER A 24/7 AVAILABILITY GUARANTEE — HOW DO YOU ACHIEVE A SENSE OF ‘WORKLIFE BALANCE’ OR THAT CONCEPT A MYTH? I am available 7 days. It is unrealistic to think you can work 9-5 and get ahead in broking when so many of your clients do their mortgage research, want to ask questions and lodge their applications outside of normal working hours. I would not say I have an ideal work-life balance, but I really enjoy what I do. I am committed to working the hours that I need to become Australia’s number one broker. No matter how hard you try, there will be times when work bleeds into your personal life and this tends to be the case for anyone running their own business. The more quality hours you put in, the better the results you get out of this job.

The work I enjoy the most is restructuring the portfolios of complex investors, to assist them to continue to build wealth through property. Recently I saved a professional investor close to $300,000 a year in interest by refinancing his portfolio of 18 properties. He was then able to purchase three additional properties and his new repayments were still less than before he

SOME SAY SUCCESS COMES DOWN TO DAILY ROUTINE — DO YOU AGREE? I agree 100%. The key difference between a $50m broker and a $250m broker is process, speed, and accuracy. We have everything mapped out, from onboarding client checklists to post-settlement touch points. If you have a team that understand their specific jobs and work hard together, the

This has resulted in a significant year-on-year increase in my settlement volume. Understanding what your target market is and serving up relevant content that interests and engages them is the foundation of building any brand or business.

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only thing holding you back is yourself. Success for me is having hundreds of 5-star reviews. There is no better marketing tool than positive word of mouth from happy clients. They are your best referral partners. THE PROPERTY MARKET IS RUNNING HOT — WHAT OPPORTUNITIES OR CHALLENGES DO YOU SEE FOR BUYERS AND BROKERS? It has never been a better time to be a broker but a worst time to be a first home buyer. House prices in Sydney have gone up more than 10% this year already, highlighting the issue of housing affordability as wage growth is not keeping up with inflation and property prices. The good news announced in the budget has been the extension to the 5% FHLDS and the new 2% single parent schemes, allowing thousands of low-income families to purchase a home. As brokers there is an unlimited amount of opportunity with the current record low interest rates. Our biggest challenge is slow lender turnaround times while trying to manage client expectations in a fast-moving property market. Lenders need to be working with the broking industry to resolve these issues rather than seeing

us as competition. In the end, the only person losing is the customer. WHAT ADVICE CAN YOU SHARE ABOUT BECOMING A SUCCESSFUL BROKER? 1. Outsource your loan processing. I see so many great brokers bogged down with paperwork and not able to get out there winning more business. If you are lodging more than 10 deals a month, you need to employ someone fulltime as it will work out cheaper than trying to do that work yourself and win new clients. 2. Join the ‘Finance & Coffee’ Facebook group. This is an incredible free resource for brokers to workshop scenarios without bothering the lender BDMs or other brokers in your office. I still use it regularly to double check policy and ensure the information I am giving clients is current and correct. 3. The first couple of years as a broker will be extremely difficult, both financially and emotionally. If you work hard and consistently deliver a premium service, it is impossible not to succeed. The only person holding you back is yourself.

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Currency values and the Covid Vaccination Rollout The rollout of the COVID-19 vaccines this year has not only affected populations, but it has also had knock-on effects to the currencies of many nations.

COVID-19 vaccine doses administered per 100 people, May 23, 2021 Total number of vaccination doses administered per 100 people in the total population. This is counted as a single dose, and may not equal the total number of people vaccinated, depending on the speciﬁc dose regime (e.g. people receive multiple doses). Israel United Kingdom United States Hungary Iceland Canada Germany Denmark Belgium Spain Italy Austria Portugal France Finland Poland Greece Switzerland Sweden Netherlands Norway China Turkey Latvia Brazil Mexico Australia India South Korea New Zealand Japan

121.98 89.25 (May 22, 2021) 85.43 83.18 67.72 (May 21, 2021) 55.71 52.98 (May 21, 2021) 52.72 51.72 51.25 (May 20, 2021) 51.11 51 50.29 48.29 (May 22, 2021) 48.15 47.4 47.14 (May 22, 2021) 45.83 (May 19, 2021) 44.99 (May 21, 2021) 44.36 44.08 35.49 33.26 32.49 27.17 20.54 14.12 13.89 10.8 9.84 (May 18, 2021) 6.94

Source: Ofﬁcial data collated by Our World in Data – Last updated 24 May, 14:40 (London time)

For example, India’s recent catastrophic wave of infections saw the Indian rupee fall more than 4% against the USD in the four weeks from 22 March 2021. This was in contrast to the performance of nearly all major Asian currencies which strengthened against the USD in this period. As new COVID-19 cases in India began to reduce from the peak in early May, the rupee has since recovered some of its losses. Nonetheless, the Indian economy and its currency continue to be at a heightened risk of new mutations of the virus and the prospect of further lockdowns. In New Zealand, the announcement of a positive COVID-19 case of an Auckland hotel worker coincided with a near-two-cent fall of the New Zealand dollar against the USD. Although the NZD has rebounded somewhat, it remains shadowed by a slow vaccination uptake across the country. In demonstration of the power of a successful vaccination rollout, the UK’s strong take-up saw the GBP strengthen by approximately 3.5% against the USD in the month from 16 April 2021, together with a significant overall strengthening against the Euro. This paid dividends on the

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British government’s decision to push ahead aggressively with the rollout, particularly in comparison to the conservative approach of some other European nations. Similarly, the Israeli shekel soared to its highest value against the USD in nearly 25 years earlier this year, corresponding with the early stellar success of the Israeli vaccination effort. The AUD has generally performed solidly in spite of a lacklustre vaccination effort. Australia has, however, had the benefit of an overall sound economic performance and has not recently had to endure the crippling effects of the large-scale national lockdowns seen around the globe. However, foreign exchange markets remain on high alert for any further waves and more particularly the effectiveness of vaccines against the emerging new COVID-19 variants. Unfortunately, any adverse impact resulting from these will likely be greater on non-developed and emerging countries, with both their economies and currencies at a disproportionate risk of stress and underperformance.

If there is anything that Send can do to potentially assist your clients with overseas payments or better understanding the exchange process, please contact the Send team at broker@sendpayments.com

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Disclaimer: Details correct at the time of writing. The information provide above is provided as general information only and does not constitute advice of any nature. FBAA and Send do not warranty the accuracy of the information provided and you should seek your own advice in relation to any products mentioned.

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Why Customer Strategy is Critical to Online Success The most fundamental part of designing a successful strategy is knowing your ideal customers and their needs. This information will enable you to move forward to create a value proposition and position your business apart from competitors. Strategy is a critical part of online success. However, the reality is very few businesses have a clear strategy, hence the reason they’re not achieving results, and have so much competition. Not only is this bad for business, but it also disrupts all the available opportunities, and the goals you set for yourself. That’s why nailing your customer strategy is essential to ensure you’re reaching the right customers who value your products/services.

UNDERSTANDING STRATEGIC PROCESS Digital strategy can be separated into three segments: Customer strategy, Service strategy, and Competitor strategy. Understanding how each segment benefits business will help create a holistic strategy that covers all aspects of your business. The most fundamental part of designing a successful strategy is knowing your ideal customers and their needs. This information will enable you to move forward to create a value proposition and position your business apart from competitors.

UNDERSTAND WHO YOUR IDEAL CUSTOMERS ARE Your ideal customer is the person you love working with and vice versa, because you’re resolving their pain points, and as a result, they value your business. The people you don’t like working with are the ‘anti-persona' – they consume all your time and energy and impact business negatively by trying to haggle on services. Most importantly,

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they affect your confidence, and this is one of the biggest issues people have.

FINE-TUNE YOUR SERVICES FOR A UNIQUE VALUE PROPOSITION (UVP) When you fine-tune your services to suit the needs and wants of your ideal customer, you’ll be able to create a UVP that positions you apart from competitors. This rarely involves any big changes, and you’ll notice the competition reduces when focusing on a niche market. Take for example, Lenco Property and Finance – a mortgage broker owned by Pransantha Lenora. Instead of competing against thousands of other mortgage brokers, Pransantha concentrated on his ideal customer, migrants to Victoria who wanted to create wealth and build financial security starting from scratch. Prasantha understood their needs, being a migrant himself, and redesigned the services of Lenco around these needs to create his UVP 'Build a property portfolio from scratch'.

This created his niche and positioned Lenco apart from its competitors. This has made a big difference for Prasantha’s business.

CREATE TRUSTED BRANDING BEFORE BUILDING A WEBSITE Consumers are time-poor and want to make quick decisions. They have to be convinced within the first 2 to 4 seconds of opening a website! To do this, your branding must embody your strategy and invoke instant trust and credibility. A mistake business owners make is skipping these steps before building a website, hence the branding doesn’t resonate with your customers. Don’t drive traffic to a website that doesn’t deliver results! This was an issue Prasantha had when the website he initially created didn't communicate his value proposition or build trust. Hence his business didn’t achieve its full potential. Nailing your customer strategy will not only help your business drive the right traffic to convert leads into wins but enable you to work within your core competencies with greater purpose because that's your passion. For Prasantha, he's not just doing mortgages for anyone, he's helping other migrants succeed, and that's his passion. To find out more about netStripes’ digital services and what they can do for your business, visit: https://bit.ly/3h9O1z8

By Dinesh De Silva – CEO of netStripes

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Shadé

ZAHRAI

How To Thrive In Challenging Times Meet award-winning strategist and career performance specialist, Shadé Zahrai. The former commercial lawyer and high-achieving finance professional now helps companies, from Fortune 500s to SMEs, navigate change, develop an opportunity mindset and build cognitive resilience. All the while, she has amassed a social media following of 1.3 million people in just 12 months.

Having built a high-performance career in law and finance over the past decade, Shadé Zahrai speaks the corporate language, helping companies empower their teams and small businesses tap into their own potential. Today she runs Influenceo Global Inc., the leadership, development and research firm she co-founded with her husband three years ago. The business was born organically, as Shadé tapped into her experience as a high-performance finance professional (with awards to boot, including Mentor of the Year in the Women in Financial Services Awards, and category finalist in the Telstra Women in Business Awards VIC) and the psychology degree she had completed alongside law. “Having a psychology degree and organically mentoring women who wanted to follow my fast career-trajectory, I rediscovered my passion for integrating human performance, psychology and neuroscience research to help people perform at their best, and importantly to be happier,” shares Shadé. Like all of us, Shadé is no stranger to challenges, specifically those presented by COVID in 2020. Early last year, Shadé and her husband were planning to move to Southeast Asia to expand Influenceo Global Inc. They had booked their flights, they had sold their couch and they were ready to fly out when in March, just one week before their departure date, international flights ceased due to COVID-19. “Our business plans, our life plans, were very much disrupted,” recalls Shadé. “In a way, that really helped when it came to my understanding of what organisations were going through. The pandemic cancelled all of our speaking engagements for 2020. Our business was dead in the water. So, instead of staying paralysed in

‘crisis mode’ we focused on what we could do. We quickly pivoted to delivering virtual programs and posting value-add content on social media. We never expected that in just over a year we would build a community of over 1.3 million followers across social media.” Proving challenge can be the seed for great success, Shadé was recently named Adweek’s prestigious 2021 Career’s Content Creator of the Year for her profile social media content. She has also been featured in The New York Times, Yahoo Finance and The Daily Mail. By offering virtual programs, her business was able to expand its client base during the extended lockdown in Melbourne, to include Fortune 500s around the world such as Proctor & Gamble Latin America, JP Morgan Switzerland, Microsoft UK, and Optus, SAP and McDonald’s more locally. Shadé says the most requested Influenceo Global Inc. programs through 2020 and 2021 were focused on: 1) Developing an Opportunity Mindset, by understanding the science of how thoughts influence action, 2) Navigating Change, using tools of emotional intelligence, and 3) Building Cognitive Resilience, through developing tangible tools for wellbeing and performance. This last topic links into Shadé’s upcoming presentation at the FBAA National Industry Conference which will be held this July at Sea World Resort Conference Centre at the Gold Coast. The conference theme this year is ‘Business in a New World’. Following the disruption to businesses, lifestyles and travel, the FBAA has engaged speakers who can offer useful advice, insight and strategies to help brokers and industry professionals remain nimble and forward-thinking in times of change. “After 10 years working in corporate and now actively working with many of the world's leading

“We never expected that in just over a year we would grow a community of over 1.3 million followers across social media.”

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organisations, I really have my finger on the pulse in terms of what people are experiencing,” says Shadé, “and, importantly, objections people have around navigating change, emotional intelligence and high-performance during this time. “In all the programs my company delivers, we focus on equipping and understanding the science and the research behind things like mindset, highperformance and emotional intelligence. We then humanise the concepts with relatable stories.” Shadé says regardless of whether you work alone, or run a company with many employees across multiple sites, we can all be affected b y u n c e r t a i n t y. “ I n t e r e s t i n g l y, many experts have suggested the dominant emotion of 2020 was grief. Of course, many people were grieving the loss of loved ones, but also it was grief around the loss of normalcy and the loss of predictability. Grief can manifest in unusual ways, whether that’s anxiety, inability to sleep, frustration or overwhelm,” explains Shadé. “Now that we move into 2021, there seems to be two streams of what professionals are experiencing, regardless of whether they're employees or work alone. “The first stream is where you have highperformance individuals who are high-functioning A-types, who look to others to be confident, you look collected, you look like you've got everything together, but that is not how you feel internally.

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You might have a constant, underlying, anxiety. You might be struggling to sleep, over-thinking, you might have addicted behaviours like social media use late into the night which is actually called ‘revenge bedtime procrastination’. If you feel like you have little control over your daytime life because of the demands of work, you may try to regain some of the freedom and control by avoiding sleeping because you know that when you sleep the sooner tomorrow arrives and you have to do it all again. You know, you're exhausted, in bed, still swiping on social media, forcing yourself to stay awake. It's your way of trying to regain autonomy, but instead it just makes you more tired the next day, which means you have less willpower, and so you do the same thing the next night. You are caught in a negative cycle. This state is called ‘highfunctioning anxiety’. “The second stream is a sort of by-product of the year we all had last year. Being in uncertainty for a prolonged period and having almost underlying anxiety during that time, you basically become desensitised to it. What that means is, you feel a sense of purposelessness, meaninglessness. It's a lack of motivation, and where you might've been excited to wake up on a Monday and get started at work, you suddenly don't feel that, and you start asking yourself, ‘what's the point of all of it?’ This particular state is actually a combination of various emotions, but

the risk of being here in this stream is that you don't notice you’re there. You don’t notice you have isolated yourself from your colleagues, your friends, your family, and it becomes a risk factor for depression. It's almost a ‘no-man's land’ inbetween mental illness and mental wellness. You’re not mentally unwell, but you're also not mentally well. I suspect that this is where a lot of people will find themselves, if they're not already there. This state is called ‘languishing’.” “It’s very easy to fall into either stream – high-functioning anxiety or languishing – so it’s important to be aware of what you are experiencing,” says Shadé. “Much of what we do at Influenceo Global Inc. is around training your mind to focus on what’s important to you and where you want to go, rather than fixating on everything that’s wrong. “When you become fixated on risks – not risk aware which is healthy, but fixated – you remind yourself ‘oh no, what if this happens again’ and you relive it again, and again. What that does from a physiological, neurological perspective, is you actually revisit and recreate that situation of high arousal, stress and anxiety – and you often interpret things around you in a way that reinforces your negative state. The subconscious is a fascinating thing! So, whether you experience something or just visualise it, it activates the same parts of the brain. This can lead to chronic stress and anxiety, which is extremely detrimental to general wellbeing and ability to function.” Shade says the combination of working with so many leading companies from around the world, accessing the latest papers through her PhD research and having such a large social media following have helped her understand the challenges professionals face day to day. “This helps us hone our programs to ensure they’re relevant and highly actionable, which is why I believe we’ve received overwhelming feedback that the tools and practices we share are having real impact and truly resonate.” Shadé Zahrai will speak at the upcoming FBAA National Industry Conference, Friday 5th November, 2021. To register your attendance, go to fbaaconferences.com.au.

3 science-based tips to help you foster a flourishing mind through cognitive resilience 1. Track your energy rhythm

“To enhance your emotional intelligence, track your levels of energy from when you wake to when you sleep. You’ll notice a standard rhythm of when you usually have the most energy vs when you feel most depleted. Use your unique rhythm to manage your daily tasks; do the things you enjoy least when you have the most energy. This way, you’ll get them done quicker and can look forward to the things you love to re-energise you.”

2. Tune into your thoughts

“When negative life events happen and we think about them repeatedly, these cause us to relive the event and it triggers our cortisol response, leading to chronic stress. It’s called ‘ruminative brooding’. Instead, consciously redirect your thoughts to what’s within your control and what action you’ll take.”

3. Get out into nature and disconnect

“Exposure to nature (trees, leaves, grass) acts like a battery, recharging the attentional reserves of your brain, reducing procrastination and helping manage stress. So, try to get out at least once a day and, importantly, look around. If you can’t physically get out, the next best thing is watching a video of nature and listening to nature sounds, like rain or the ocean – the sonic quality works wonders in helping you recharge.”

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ALIFBAAFP_MAY21

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Is Your Business Suffering From Change Fatigue? They say change is inevitable. However, over the last 24 months the amount of change across many areas of business is certainly causing ‘change fatigue’. Unfortunately, it’s not going to stop anytime soon.

Change has certainly also been a constant across industrial relations and workplaces. Below, we share with you some of those changes that business should be aware of.

INCREASE TO EMPLOYER SUPERANNUATION CONTRIBUTIONS From 1st July 2021 employer superannuation contributions will increase from 9.5% to 10%. Super is payable on Ordinary Times Earnings (OTE) which are generally what an employee earns for their ordinary hours of work including: • Over-award payments • Commissions • Shift loadings • Annual leave loading • Allowances • Bonuses The increase to 10% from July 2021 will be the first of many to come.

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CASUAL EMPLOYMENT CHANGES Under the new definition of casual employment, a person is considered a casual employee if they accept a job offer from an employer knowing that there will be no firm advance commitment to ongoing work with an agreed pattern of work. A the newly created Casual Employment Information Statement must be provided to all casual employees (along with the Fair Work Information Statement). The Amendment Act introduces a new entitlement to the National Employment Standards (NES) which gives casual employees a pathway to enter full-time or parttime positions of employment, otherwise known as ‘casual conversion’. An employer (other than a small business employer) must offer their casual employee to convert to full-time or part-time employment when the employee:

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• • •

Has worked for the employer for 12 months Has worked a regular pattern of hours for at least the last six of those months on an ongoing basis Could continue working those hours as a permanent employee without significant changes

Some exceptions apply.

MANDATING COVID-19 VACCINATION IN THE WORKPLACE Employers and employees are now seeking clarity on their rights and obligations in the workplace as the COVID-19 vaccination becomes available. According to FWA, the majority of employers should assume that they won’t be able to require their employees to be vaccinated with no laws or public health orders currently in place. Whether an employer can require employers to be vaccinated is highly fact dependent. Employers should consider whether vaccinations are an inherent part of an employee’s role, as well as the following factors: • Is the direction to be vaccinated lawful and reasonable? • Does a specific law, enterprise agreement or employment contract mandate vaccination? • Does the employee work with vulnerable others such as the elderly? • If people refuse the vaccine, how will they be dealt with? • What other control measures are in place to reduce the risks of COVID-19? • Are there alternative working arrangements that can be made?

•

collection, use and storage and handling of personal health information. Employers must ensure they are complying with the relevant laws. Discrimination – Australian anti-discrimination laws prohibit discrimination on protected characteristics, for example, disability, pregnancy and religious beliefs. Unfair dismissal claims – An employer may take disciplinary action against an employee refusing the vaccine, only if the refusal is in breach of a specific law or reasonable direction.

A safe and effective COVID-19 vaccination is only one part of keeping Australians safe. Employers should ensure all reasonably practicable control measures are in place before considering a mandated vaccination. Employers should also be aware that: • It is unlikely that WHS laws require businesses to ask customers and visitors for proof of vaccination before entering premises. • It is unlikely an employee could refuse to attend the workplace because another employee is not vaccinated. Seeking legal advice to evaluate the implications vaccines may have on a business and their employees is highly recommended. Integrated Human Resourcing is an outsourced HR firm based in Burleigh Heads, Gold Coast. If you would like to know more, call 07 5613 1846 or email info@humanresourcing.com.au

The factors surrounding mandated vaccinations, can also raise a number of legal issues including: • Privacy – Australian Law regulates the

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Due to the current COVID-19 situation. The 2021 FBAA Gala Dinner & Awards of Supremacy will now be held on Friday 5th November.

The FBAA’s National Industry Conference is back! After 2020 delivered a year like no other, the broking industry’s largest professional conference will focus on giving you the right tools to support your business in a new world.

Last year, the COVID-19 pandemic disrupted business operations around the world. For brokers in 2020, this required quick reactions to support customers and help them navigate an indefinite period of uncertainty. Then, what looked grim for the industry quickly turned from cold to hot as record low interest rates and low supply pushed property prices through the roof. For brokers working in 2021 and 2022, what does this mean? What tools will you need to support your loan customers, enhance your operations and future proof your business? With greater technology at our finger tips and changes to the way we assist borrowers, 2021 has opened the door to a new world.

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‘Business in a new world’ is the theme for the 2021 FBAA National Industry Conference which will be held at Sea World, on the Gold Coast, on Friday 5th November. FBAA Managing Director Peter White AM said it is wonderful to be back to face-to-face events, networking with brokers and industry professionals throughout the country. “Our National Industry Conference is a major industry event, and I’m thrilled we will be back at the Gold Coast, soaking in some Queensland warmth and mingling with our industry’s brightest.”

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“There is a real buzz about being able to travel and network and come together to celebrate what brokers have achieved…” “Feedback from members is that there is a real buzz about being able to travel and network and come together to celebrate what brokers have achieved. It’s been 18 months since we held our last National Industry Conference, Gala Dinner and Awards of Supremacy – and an exceptional 18 months at that – so this year’s event will be particularly special,” says Peter. “There is an appetite not only for the social side of events like these, but for information sharing,

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education and professional insights and growth that our conference has become known for. “Registrations, sponsorships and exhibitor bookings are all running ahead of where we would normally stand this far out from a conference. We have Queensland Government approval to host 1,000 attendees, so I encourage you to register sooner rather than later.” Register now at fbaaconferences.com.au

SPEAKER LINEUP

Michael Pascoe Michael Pascoe is one of Australia’s most respected and experienced finance and economics commentators with four decades in newspaper, broadcast and online journalism covering the full gamut of economic, business and finance issues. Michael is most recognised through his many years spent reporting on business and finance on Channels 9 and 7, in addition to his past role as Contributing Editor for the Sydney Morning Herald and Age. He’s now contributing editor for The New Daily and regularly seen as a commentator on ABC’s The Drum and 7’s Sunrise and other programs. He is a popular conference speaker and MC, bringing rare humour and plain language to the ‘dismal science’ of economics. Michael was born and educated in Queensland, starting his career with The Courier-Mail before working in Hong Kong for three years on the South China Morning Post. He joined the Australian Financial Review in Sydney upon returning to Australia and then pioneered specialist finance journalism in commercial broadcasting - first with the Macquarie Radio network, then with Channel 9, Sky News and 7.

SHADÉ zahrai An award-winning leadership strategist, Harvard-trained coach and member of the esteemed Forbes Coaches Council, Shadé Zahrai is a specialist in building a success mindset, self-belief and self-mastery for business professionals, and enhancing people-centric cultures. Shadé Zahrai is recognised for her superhuman ability to translate neuroscience and psychology research into practical, actionable strategies to accelerate success. As Principal and Director of Influenceo Global Inc., a leadership development, consulting and research firm, she consults, trains and coaches leaders and teams from startups to Fortune-500s. Her work aims to breathe life into organisational culture to enhance change-readiness for transformation, increase engagement, support the development of people-centric strategies and boost commercial performance. A former commercial lawyer with a background in psychology and strategy consulting, bolstered by 10+ years across a top tier legal firm and Big-4 bank, Shadé is in touch with the human side of business. She also specialises in programs for high performing women to maximise confidence and supercharge success.

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Bernard Salt

Simon Kuestenmacher

Bernard Salt AM is widely regarded as one of Australia’s leading social commentators by business, the media and the broader community.

Simon Kuestenmacher is the Director of Research at The Demographics Group based in Melbourne, Australia, and a rising star in data animation and interpretation with astounding predictions for Australia’s future. In just two years he has amassed 125,000 followers globally who enjoy his insights and his quirky observational style.

Bernard heads The Demographics Group which provides advice on demographic, consumer and social trends for business. Prior to that, Bernard founded KPMG Demographics. He writes two weekly columns for The Australian newspaper and is an adjunct professor at Curtin University Business School. In conjunction with KPMG Australia he hosts a top-rated podcast called ‘What Happens Next’ which discusses rising trends and important business issues. Bernard is one of the most in-demand speakers on the Australian corporate speaking circuit. He is well known to the wider community for his penchant for identifying and tagging new tribes and social behaviours such as the ‘Seachange Shift’, the ‘Man Drought’, ‘PUMCINS’ (pronounced pumpkins) and the ‘Goats Cheese Curtain’. He is perhaps best known for popularising the phrase “smashed avocado” globally. Bernard was awarded the Member of the Order of Australia (AM) in the 2017 Australia Day honours.

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Simon speaks on demographic trends, consumer insights and cultural change in Australia. Simon holds degrees in geography from leading universities in Berlin and Melbourne and worked for several years as a business consultant with KPMG Australia. A columnist for The Australian newspaper, he is also one of the two co-founders of The Demographics Group and an emerging media commentator on demographic and data matters. He is frequently sought out by SkyNews, The Project, newspapers and radio stations across Australia to comment on demographic megatrends and the future of Australia. Simon was named one of the world’s Top 50 influencers in data science by carto.com, he reaches over 30 million people every month through his Twitter account.

Yasmin London Yasmin London is the Executive Director of ySafe, Australia’s largest online safety education organisation. Yasmin ignites social change through education and courageous conversations. Yasmin’s mission is to equip people with the skills and knowledge to ensure technology enhances their modern day lives, rather than detracts from it. As the Executive Director of ySafe, Yasmin has collaboratively overseen the team’s delivery of online safety education to 500,000 kids since its inception, 100,000 parents and 50,000 school staff educating on multiple aspects of digital wellbeing and online safety. Yasmin regularly speaks at events and conferences, and consults for governments, schools, business and not-for-profits. Aside from being widely recognised as Australia’s ‘Dancing Cop’, she’s also written for Kidspot, and appears on Channel 9’s Today and Weekend Today Show providing advice for Australians on online safety and positive technology management. Having spent 13 years in the NSW Police Force, Yasmin has worked at the coalface when it comes to dealing with real-life consequences of negative online behaviours.

Chelsea Pottenger Chelsea is an international motivational speaker, an accredited mindfulness and meditation coach, a psychology student, a proud ambassador for mental health charities including R U OK? and The Gidget Foundation and an authority on mindfulness and productivity. For 12 years Chelsea worked in the corporate world and then a life adversity happened. After her life reboot, Chelsea commenced her studies in psychology. Her clients range from the big four banks, to tech companies like uBer and ebay, Estee Lauder and The Australian Defence Force to name a few. Chelsea has featured on Sunrise, ABC and Channel 9, and in FBAA’s Broker Magazine. Chelsea is no stranger to FBAA’s National Industry Conference, having previously presented a fascinating, educational and motivating talk some years ago.

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LMI A-ok? We’re talking lenders mortgage insurance. That necessary evil if your client doesn’t have quite enough deposit for their home. Most borrowers will do anything to avoid paying it. But should they?

What exactly is LMI? More than 50 years ago the Australian Government introduced LMI to encourage banks to lend people more than 80% of the property value, allowing more people to enter the market. In simple terms, it’s an insurance policy to protect the bank from lenders defaulting on their loans. Does LMI benefit buyers? Yes, because it enables them to purchase a property with a small deposit – as little as 5%. Saving 20% can be difficult – especially in markets like Sydney. Saving times can be reduced to as little as 2.5 years, which is lifechanging for many buyers. Is it better to save 20% or pay the LMI? It really depends on your client’s needs and market conditions. You need to consider both financial (capital growth and/or cash flow) and non-financial benefits, like the security and stability of home ownership. The cost of LMI varies state to state and there’s a sliding scale on the amount to pay – the higher the loan amount to the loan to value ration (LVR), the higher the premium. Rates will vary from bank to bank. Let’s look at an example… If a client spent $750,000 on a Sydney property and borrowed 85% of the cost of the property, the LMI premium would be $8,078.86. Bump the LVR up to 95% and the premium skyrockets to $29,942.81. So ideally, your clients don’t want to be borrowing with the highest available LVR.

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Are there any ways to avoid paying LMI? There are some professionals – like doctors, vets, chiropractors, pharmacists, lawyers – that lenders deem to be low-risk and will qualify to be waived for LMI. Some lenders will also waive the LMI if you are buying a Defence Housing Australia property regardless of occupation. First home buyers have the option of taking out a guarantor loan – having their parents or the Government act as the guarantor to their loan. So, is it good or bad? It can be good because it forces savvy borrowers to wait until they have a bigger deposit. It can also be used effectively if buyers are close to the 20% threshold but have the opportunity to snap up a great deal. Once they reach 20% in equity, they can refinance and have the LMI removed from mortgage repayments if they elect to not pay it upfront. If a client is buying a home with a 5% deposit, they may be exposed to macro-economic changes, so it’s important to consider this in your advice. The most important thing to consider is to look at the purchase holistically so your client can make an informed decision.

Kitty Parker

- Buyers Advocate

Broker Magazine

PROFESSIONAL INDEMNITY INSURANCE

YOU MAY BE INSURED, BUT ARE YOU COVERED? As every Finance Broker knows, Professional Indemnity (PI) Insurance is an essential part of doing professional business in todays world. However, most PI policies on the market are generic in nature, ie they are structured to cater for most professional occupations - not so with Finance Brokers PI Plus! Our exclusive policy has been specifically designed & continually upgraded over the years to meet the particular & unique needs of the Finance & Mortgage Broking industry - indeed, we have been the appointed Insurance Brokers to the Finance Brokers Association of Australia (FBAA) Since 2000.

EXPERIENCE THE INSURANCE ADVISERNET AUSTRALIA DIFFERENCE Policy meets, & in most cases exceeds, all ASIC National Licencing requirements. NIL EXCESS applies on claims lodged via AFCA. Easy on-line application process – takes minutes to complete. Personalised service, including all claims handling disputes. Pay by month option available. Premiums start from a very low $650 (plus Gov’t charges & fees) for a $2M limit of cover.

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Darren Loades is an Authorised Representative of Insurance Advisernet Australia Pty Ltd, No: 262182 AFSL No. 240549

What's on At

WEBINAR 10:00 AM - 11:30 AM AEST Join us over 2 sessions for the FBAA New South Wales and Australian Capital Territory eSummit!

NSW/ACT E-SUMMIT SESSION 1

These webinars will focus on Open Banking and Digital Broking/Financial Services and where they are heading in the marketplace, what the future looks like and how it impacts mortgage brokers and borrowers. Click the register now button to register and read more about this event.

An Open WEBINAR 11:30 AM - 12:30 PM AEST Join Whitey & special guest Matthew Rogers, Senior Associate RBG Lawyers as they explore the current critical legal issues within the Industry. Click the register now button to register and read more about this event.

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With Whitey

WEBINAR 10:00 AM - 11:30 AM AEST Join us over 2 sessions for the FBAA New South Wales and Australian Capital Territory eSummit!

NSW/ACT E-SUMMIT SESSION 2

WEBINAR 11:00 AM - 12:30 PM AEST

Workshop 2 Mastering cashflow

The FBAA and Accendo Financial Mastering Cashflow Workshop. Our next financial skills workshop facilitated by Stuart Donaldson and John Sgambelluri from Accendo Financial will focus on preparing and interpreting a cashflow forecast. Click the register now button to register and read more about this event.

Broker Magazine

WEBINAR 10:00 AM - 11:30 AM AEST

Workshop 1 - Commercial Lending Skills

The FBAA and Accendo Financial Commercial Lending Skills Workshop. Who is this workshop for? Home Loan or Finance Brokers looking to gain a better understanding on how to quickly identify lending opportunities and obtain approvals for SME clients. Click the register now button to register and read more about this event.

WEBINAR 11:00 AM - 1:00 PM AEST The FBAA and Accendo Financial Advanced Commercial Lending Skills Workshop. Connecting the dots between Profit & Loss and Balance Sheets to create cashflow reports that allow owners and funding partners see financial the impact of their business plans. Click the register now button to register and read more about this event. 48

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Workshop 3 Advanced Commercial Lending Skills

DEC

WEBINAR 11:30 AM - 1:00 PM AEST

The FBAA and Accendo Financial Commercial Lending Skills Workshop.

Workshop 1 - Commercial Lending Skills

Who is this workshop for? Home Loan or Finance Brokers looking to gain a better understanding on how to quickly identify lending opportunities and obtain approvals for SME clients. Click the register now button to register and read more about this event.

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BUSINESS

IN A NEW

WORLD Friday 5TH NOV FBAA’s Platinum Events of the Year on the Gold Coast. FBAA welcomes back the National Industry Conference and Gala Dinner and Awards of Supremacy.

Date Change

Due to the current COVID-19 situation. The 2021 FBAA Gala Dinner & Awards of Supremacy will now be held on Friday 5th November.

FRIDAY 5TH November | Movie World, Gold Coast 7 PM - Late | Cocktails | Dinner | Live Entertainment Heroes and Villains themed

Exclusive deals for FBAA members BMW Corporate is not just about making it easier to own a BMW. It’s about enhancing the whole driving experience. Representing significant value, BMW Corporate is a great way to lower the cost of ownership and enjoy exclusive benefits with the purchase of a new BMW.

FBAA MEMBERS RECEIVE: • BMW Service Inclusive for 3 years or 60,000kms *Complimentary Service Inclusive - Basic including

Vehicle Check, is based on the vehicle’s Condition Based Service monitoring system for 3 years from the date of first registration or up to 60,000kms,whichever occurs first. Normal wear and tear items and other exclusions apply. Servicing must be conducted by an authorised BMW Dealer in Australia.

• Reduced Dealer delivery of $1,850 excluding taxes. FBAA MEMBERS ALSO RECEIVE:

• Complimentary use of a BMW during scheduled servicing.**Subject to vehicle availability and only available during the complimentary servicing period.

• BMW Corporate benefits extended to your spouse. • Reduced rate on a BMW Driving Experience course. STANDARD BMW BENEFITS:

• • • •

3 years unlimited kilometre warranty. Access to BMW Genius. BMW Roadside assistance. Competitive finance rates across a range of products through BMW Financial Services.

STATE PRESIDENTS Trent Carter

Christine Green

Western Australia - State President

Queensland - State President

Director Provident Lending & Business Solutions Mobile: 0448 773 310 Email: wa@fbaa.com.au

Liberty Network Services Mobile: 0434 338 704 Email: qld@fbaa.com.au

Joff O’shannessy

Nick WorMALD

South Australia & Northern Territory - State President

New South Wales & ACT - State President

Director Finance Opportunities Mobile: 0419 820 149 Email: sa@fbaa.com.au

Brett Spencer Victoria & Tasmania - State President Opica Group Mobile: 0412 497 110 Email: vic@fbaa.com.au

Grow Capital Mobile: 0488 810 555 Email: nsw@fbaa.com.au

Would you like more information on an FBAA event or PD Day thats happening in your local area? Maybe you have some feedback or an issue you would like to discuss? Finance Brokers Association of Australia Street: Level 1, 116 Ipswich Road, Wooloongabba Qld 4102 Post: PO Box 177, Coorparoo Qld 4151 Phone: (07) 3847 8119 Email: info@fbaa.com.au Web: www.fbaa.com.au

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Tony Carter

Peter White AM

Chair | Director

Managing Director | FBAA Life Member

Cert IV Finance, Graduate Management Qualification (GMQ) – UWA

MAICD

Tony Carter has been involved with the motor and finance industry for more than 40 years. The last 20 years he has been Dealer Principal and Director of three motor dealerships. He has been engaged with finance since his early career days at AGC and was a licensed finance broker in WA from 2004 to 2013, ending as an ACL holder when he resigned from the motor dealership position. Today, Tony holds a credit representative role under his son’s company and runs his own vehicle and finance brokerage in WA. Over the past 20 years Tony has been on three not-for-profit boards; BIZLINK (Chairman), Asthma Foundation WA (Chairman), and Asthma Australia (Director). Special Responsibilities Chair of the FBAA Board of Directors, Member of Finance, Audit Investment and Remuneration Committee, Member of Governance and Risk Committee, Chair of Nomination and Membership Committee, Member of Education Development Committee, Leader of State President Liaison Advisory Group, Member of Concierge Advisory Forum.

Principal Broker Brokerage WA Phone: 0418 911 220 Email: tcarter@fbaa.com.au

Peter White AM has vast experience in banking and finance, spanning more than four decades. He is highly engaged with government and industry regulators, ensuring and protecting the future of our industry and dealing with regulatory matters of the day. Peter’s activities with FBAA include representation on the Advisory Board of the Small Business Association of Australia, as Chairman of the Global Board of Governors for the International Mortgage Brokers Federation (IMBF), and the industry’s passionate advocate for mental health awareness. Peter was awarded as a Member of the Order of Australia (AM) in the June 2019 Queen’s Birthday Honours List, for his significant service to the finance sector and to the community. Special Responsibilities Government, media and strategy, Leader of Concierge Advisory Forum, Leader of Combined Industry Forum, Leader of International Mortgage Brokers Federation, Leader of Education Platform Steering Committee, Member of Finance, Audit, Investment and Remuneration Committee, Member of Governance and Risk Committee, Member of Nomination and Membership Committee, Member of Education Development Committee, Member of State Presidents Liaison Advisory Group, Member of Equity Release Advisory Forum. Phone: 07 3847 8119 Email: pwhite@fbaa.com.au

KIM SZIGETI

CHRIS SZIGETI

Company Secretary | Director

Vice Chair | Director | FBAA Life Member

JJP (Qual), DipFS, AFB, MAICD, GIA (Affiliated)

Dip Mortgage Lending, AFB, MAICD, REIQ Cert IV Property Services (RE), FBAA Life Member

Kim Szigeti has vast experience in finance and mortgage broking, spanning more than 25 years. Kim joined FBAA in 2005, was Secretary to the Queensland Council from 2007 to 2009 and was elected to the Board in 2017. She was appointed to the position of Company Secretary in 2017. Kim is a member of the Australian Institute of Company Directors and the Governance Institute. Over the years Kim has been involved in numerous volunteer positions within the community as Chairperson, Coordinator and Secretary to secure donations and organise events. Special Responsibilities Chair of Governance and Risk Committee, Chair of Education Development Committee, Member of Nominations and Membership Committee, Member of Education Platform Committee.

Mortgages Can Do Phone: (07) 5592 2635 Email: kszigeti@fbaa.com.au

Chris Szigeti has been involved in the finance industry since 1975, and started his own mortgage and finance business in 1983. Chris was a founding member of the Finance Brokers Association of Queensland (FBAQ), which later became the FBAA. He was Queensland State President from 2004 to 2009 and was first elected to the FBAA Board in 2009 as National Treasurer, a position he held until 2001. In 2014 Chris was admitted as a Life Member, in appreciation of services provided to the association, members and industry. Chris has also held the positions of Chair and Treasurer of the Gold Coast Bowls and Community Club. Special Responsibilities Vice Chairman, Chair of Dispute Resolution Service, Member of Remuneration Committee.

Chris Szigeti & Associates Pty Ltd Phone: (07) 5592 2635 Email: cszigeti@fbaa.com.au

STEPHEN RASMUSSEN

GUS GILKESON

Treasurer | Director | FBAA Life Member

Director

B.Com (Prof Acct), Cert IV (FMB),CPFB, MAICD, FBAA Life Member

AFB, Cert III I.T, Adv Dip FS (FP), Certificate IV (FMB)

Stephen Rasmussen has been involved in the finance and banking industry for more than 40 years. He started in a branch environment, acquiring broad lending experience across retail and SME sectors, before starting his own broking business in 1995. Stephen joined FBAA as a member in 2000, was appointed Queensland and Northern Territory State President in 2009 and was elected to the Board as a Director in 2016. Special Responsibilities Finance, Audit, Investment and Renumeration Committee, Leader of Equity Release Industry Advisory Committee, Member of Governance and Risk Committee, Member of Combined Industry Forum.

Principal Tailored Lending Concepts Mobile: 0412 295 875 Phone: (07) 4637 0836 Email: srasmussen@fbaa.com.au

Gus Gilkeson has spent 20 years in financial business development, product development and origination, primarily responsible for loan origination and structuring. He has held successful roles building and running teams with domestic trading and investment banks, financial advisory firms, private lenders, mortgage and funds management and commercial finance broking. Gus has reviewed thousands of individual business and property finance applications and has completed billions in loan settlements. Gus holds tertiary qualifications in IT (Information Technology), Financial Advisory, and Mortgage and Finance Broking. Special Responsibilities Finance, Audit, Investment and Renumeration Committee, Member of Dispute Resolution Service.

Managing Director Grow Capital Mobile: 0423 001 002 Email: ggilkeson@fbaa.com.au

ANGELO LAURO

Clive Kirkpatrick

Director

AFB, Certificate IV (FMB)

BEc, MBA, GAICD, Grad Dip FP, Grad Dip App Finance & Investment

Angelo Lauro has had several careers in executive and development roles across various sectors in the past 20 years with more than 10 years in finance specialising in asset finance. Angelo has built successful businesses including one of the largest asset brokerages in Australia. Angelo is currently the director of a boutique aggregation business supporting brokers across Australia and currently works with the Commercial Equipment, Asset Finance and Motor Dealers Committee (CAM) supporting asset brokers and motor dealers. Special Responsibilities Member of Governance and Risk Committee, Member of Nomination and Membership Committee, Member of Education Development Committee, Member of Education Platform Committee.

Director Australian Finance Aggregation Phone: (07) 3193 9447 Email: alauro@fbaa.com.au

Clive Kirkpatrick is a successful executive with more than 30 years’ experience in banking and financial services both in Australia and offshore. He is experienced in strategy formulation and execution, business management, sales management and people leadership. Clive’s generalist background and sound understanding of marketing, product development, legal and compliance is supported by an MBA (Master of Business Administration). Clive has developed governance and directorship skills through GAICD and memberships and has a specialist knowledge and demonstrable capability in distribution. Special Responsibilities Member of Finance, Audit, Investment, Remuneration Committee, Member of Governance and Risk Committee, Member of Dispute Resolution Service, Member of Concierge Advisory Group.

Director Kircon PTY LTD Mobile: 0439 564 885 Email: ckirkpatrick@fbaa.com.au

Felicity Heffernan Director DipFMB, DipBA

Felicity Heffernan has been a business owner for 22 years, and run her own mortgage brokerage since 2007. Based in Newcastle, NSW, she is also the author of two books and speaks publicly on assisting people who want financial freedom. Felicity has served on the FBAA NSW State Council and as past NSW State President. She holds a strong advocacy position for the improvement of financial competencies to be lifted in Australia. Special Responsibilities Member of Dispute Resolution Service, Member of Nomination and Membership Committee, Member of State Presidents Liaison Advisory Group.

Property Loan Advisor CEO Mobile: 0417 024 300 Email: fhefferman@fbaa.com.au

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