Australian Broker 18.11 by Key Media

JUNE 2021 ISSUE 18.11

Broker finds an alt-doc solution Gordon MacVicar helps a couple invest in property with a Pepper Money loan /16

Trends in training and development Best practice methods for upskilling brokers and BDMs revealed /20

Broker talks career, rugby league James Jabbour discusses his move from banking to broking /30

ALSO IN THIS ISSUE…

SIMONE TILLEY ANZ’s GM of retail broker is pushing for greater female representation in broking through initiatives such as the ANZ Doyenne Program /14

00_AB1811_Cover_SUBBED.indd 1

Technology Escientia boosts its software platform for broker commission payments /08 Opinion Biometrics can prevent online fraud scams, says Andrew Tierney /18 Sector appointments Keep up with the latest personnel moves in the finance industry /24

08/06/2021 2:53:12 pm

NEWS

IN THIS SECTION

Lenders Liberty joins latest phase of SME Recovery Loan Scheme /04

Aggregators Purple Circle introduces new streamlined digital CRM /06

Market MFAA report reveals brokers’ big boost in loan settlements /10

Industry bodies ABA study shows debit cards preferred to credit cards, cash /12

Technology Escientia’s broker commissions platform a game changer /08

GLOBAL WATCH What’s happening in the mortgage, broking and banking world in the United States and Canada? Here’s your snapshot of the news that matters most in North America

U.S. HOME AFFORDABILITY FALLS FOR FIRST TIME IN TWO YEARS US nominal house price rises in the past year frightened analysts, low mortgage rates meant buying power actually increased. However, the March Real House Price Index (RHPI) from title insurance provider First American Financial indicates a reversal of that trend. For the first time in two years, affordability has declined nationwide and in 45 of the 50 major markets measured by First American. “Lower mortgage rates and higher household income compared with one year ago propelled an 11% increase in house-buying power. However, surging house-buying power drives demand, and rising demand in a supply-constrained market accelerates nominal house price appreciation,” said First American chief economist Mark Fleming. “In March, the final component of the RHPI, nominal house prices, appreciated at its fastest annual pace since 2005.” WHILE

www.brokernews.com.au JUNE 2021 EDITORIAL

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Editor Antony Field

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MOST U.S. LOANS FOR MANUFACTURED HOMES DECLINED — REPORT majority of manufactured home loan applications in the US are denied and, in spite of the low interest rates, very few loans for manufactured housing have been refinanced, according to a new report from the Consumer Financial Protection Bureau. The agency found that less than a third of loan applications for manufactured homes are approved, compared to the 70% approval rate for homeowners seeking a loan on a site-built home. While manufactured housing is only a small segment of overall property supply, it is one of the most affordable housing types available to low-income consumers and makes up 13% of the inventory in small towns and rural America. However, the low costs of manufactured home purchase loans often come with higher interest rates than conventional products and limited opportunities to refinance. THE

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CANADIANS’ HIGH SPENDING ON HOUSING DEPLETES INCOMES are allocating so much of their resources to housing that they have CANADIANS essentially impaired their ability to spend elsewhere, according to the CEO of entrepreneurship charity Venture for Canada. Scott Stirrett said the fevered pace of Canadian home price growth far outstrips that of the US. While housing values have grown by 55% in the US since the year 2000, Canada’s prices have spiked by as much as 168%. Citing data from the National Bank of Canada, Stirrett said mortgage payments account for a disproportionate share of buyers’ incomes – 64% in Vancouver, 58% in Victoria, 56% in Toronto and 34% in Hamilton. “During the pandemic, real estate prices increased rapidly in small towns and rural communities, meaning even more Canadians are struggling with housing affordability,” Stirrett said.

This magazine is printed on paper produced from 1OO% sustainable forestry, grown and managed specifically for the paper pulp industry Copyright is reserved throughout. No part of this publication can be reproduced in whole or part without the express permission of the editor. Contributions are invited, but copies of work should be kept, as Australian Broker magazine can accept no responsibility for loss. Australian Broker is the most-often read industry publication, according to independent research carried out by the Ehrenberg-Bass Institute for Marketing Science at the University of South Australia in December 2008. The research also found that brokers rate Australian Broker as the best for both news content and feature articles, followed by sister publication MPA. Overall, on all categories, Australian Broker ranks top followed by MPA. The results were based on a sample of 405 respondents who were the subject of telephone interviews.

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08/06/2021 7:18:31 am

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08/06/2021 7:18:37 am

NEWS

LENDERS NAB MOULA MAKES JOINS PERMANENT PANEL AT SHIFT AGGREGATOR TO HYBRID FAST WORKING new Sydney headquarters will embrace hybrid working. Its new Melbourne building is set to open later but will also be designed with working from both the home and office in mind. The office environments are designed to help employees collaborate, while their personal tasks can be carried out at home. “This is about creating environments that help our people bring their best to work so that we best serve our customers,” said group executive people and culture Susan Ferrier. NAB’S

MONEYTECH TAKES PART IN PLAN TO HELP SMEs lender Moneytech has joined the third phase of the government’s SME Recovery Loan Scheme. “Speed to market and loan application simplicity is critical to SMEs,” said CEO Nick McGrath, “which is made easy through fintech lenders such as Moneytech who have developed automated online application and decisioning tools. In addition to the automation advantage, fintechs are able to be agile ... with new product and technology initiatives.”

John Mohnacheff, group sales manager, Liberty

FINTECH

“Non-bank lenders like Liberty play an important role in the [SME Recovery Loan] scheme because they have the capacity to lend to underserved SMEs” John Mohnacheff Group sales manager, Liberty

LIBERTY JOINS LATEST PHASE OF SME RECOVERY LOAN SCHEME Small to medium-sized businesses affected by the pandemic and flooding will gain greater access to finance through Liberty’s participation in the government’s loan scheme lender Liberty has been included in the next phase of the government’s SME Recovery Loan Scheme to help businesses affected by floods or COVID-19. Businesses that received the JobKeeper subsidy between 4 January and 28 March 2021 or were flood-affected will be eligible for assistance, with the federal government backing loans under the scheme. Liberty will offer variable rates starting from 3.45% per annum, with increased loan limits up to $5m on terms up to 10 years under the SME Recovery Loan Scheme. The lender will also provide the NON-BANK

option to defer repayments for six or 12 months with accrued interest capitalised. Existing SME Guarantee Scheme loans and other eligible debts can also be refinanced. Liberty was involved in earlier phases of the recovery scheme, which included all four of the big banks, plus several fintechs and social lenders. “Non-bank lenders like Liberty play an important role in the scheme because they have the capacity to lend to underserved SMEs who all have such unique circumstances,” said Liberty group sales manager John Mohnacheff. “By assessing each application on

a case-by-case basis and taking the time to understand the customer’s full story, we’re supporting brokers to roll the scheme out to even more customers. “Liberty is a leading non-bank lender with a clear purpose to help more people get financial. We have more than 23 years’ experience in supporting customers with complex circumstances and finding durable and appropriate solutions. “We understand the challenges that SMEs face, and we are well placed to ensure that eligible customers can take advantage of the scheme and gain access to the funds they need, when they need them.” Liberty’s newly established business lending division has been set up to further support brokers and business partners and will be led by business capital group manager Leigh Hooley, a former Westpac, ANZ and Bank of Melbourne executive.

Greg O’Neill President and CEO, La Trobe Financial

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08/06/2021 7:19:50 am

Australians love their brokers. And so does ANZ. That’s why we go the extra mile when it comes to giving you support. Our customer-facing ads highlight the importance of brokers by reminding Australians they can speak directly to you, for their home loan needs. And to ensure you get the support you need when you need it, our team of dedicated ANZ BDMs are ready to work with you. ANZ is the bank that sees Brokers as partners. And that all adds up to better support for your customers.

ANZ Financial Wellbeing MFAA Quarterly Survey of Brokers (September 2020), page 10, brokers’ market share of all new residential loan settlements during September 2020 quarter grew to highest share on record at 60.1% © Australia and New Zealand Banking Group Limited (ANZ) 2021 ABN 11 005 357 522. Australian credit licence number 234527.

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08/06/2021 7:20:07 am

NEWS

A G G R E G AT O R S 86 400 JOINS CHOICE’S PANEL OF LENDERS bank 86 400 has announced that it is to pair up with Choice Aggregation Services in order to expand its home lending options. 86 400 will join Choice’s panel of lenders, which includes more than 60 companies. The aggregator has 1,400 brokers across the country, and 86 400 will now be able to offer its digital home loans to this cohort directly as a result of the link-up. This means that 86 400’s digital product will now be available to 75% of all brokers nationwide. DIGITAL

FINSURE PARENT BNK RAISES FURTHER CAPITAL Banking Corporation, owner of aggregator Finsure, has completed a $13m capital raising from new and existing investors. BNK CEO Brett Morgan said the funding, aside from providing general working capital, would also help “support the establishment of the recently announced securitisation program”’. BNK also recently made a deal with Goldman Sachs that will provide the bank with a $500m residential mortgage warehouse facility along with a $250m warehouse program. BNK

“With the rapid emergence of automated processes and digital technology, Purple Circle Financial Services recognised the need for brokers to further embrace the digital future” Frank Paratore COO, Purple Circle Financial Services

Commercial Loans

Frank Paratore, COO, Purple Circle Financial Services

PURPLE CIRCLE INTRODUCES BROKER-FOCUSED DIGITAL CRM As the digital revolution in broking continues, Purple Circle Financial Services has launched an easy-to-use CRM and loan platform, Salestrekker

utilising integrated solutions such as client and referrer portals, SMS, email, live chat and VoIP.” When brokers are searching and comparing products and preparing the loan application, they can simply search Purple Circle’s lender panel and easily submit applications via a choice of gateways, either ApplyOnline or LoanApp. Paratore said Salestrekker was built with scalability in mind, providing key features for a transparent compliance process, access to broker tools and full CRM functionality. It also features custom reporting and cross-selling capabilities. “Salestrekker is ready for the digital future of mortgage broking,” Paratore said. “As technology continues to be adopted at a rapid rate throughout our industry, customer service and experience, along with broker knowledge, will remain pivotal. Software doesn’t replace what a broker does; Salestrekker, however, enables them to do it quicker and in a more efficient manner, allowing greater time for helping customers.”

Purple Circle Financial Services is offering a new CRM and loan management software system designed specifically to make life easier for its broker partners. Salestrekker is a featurepacked solution aimed at reducing broker and staff workloads, improving compliance and enabling collaboration during and after the loan application process. “There has been a momentous move in how business gets done, and staying relevant means becoming an active part of a customer’s digital life,” said Purple Circle COO Frank Paratore. “With the continued and rapid emergence

of automated processes and digital technology, Purple Circle Financial Services recognised the need for brokers to further embrace the digital future. “We were looking for a CRM and system that would provide our members with a clear competitive advantage. We didn’t have to look far. Salestrekker is the best solution for our members and our business model.” Salestrekker makes automated tasks easy, Paratore said, and it works by organising a broker’s leads pipeline and the ongoing stages of an application. “Enhancing the customer relationship is possible using deal notes, tasks, live chat and visual status tools. Brokers can further simply connect with customers by

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08/06/2021 7:20:26 am

NEWS

TECHNOLOGY AI CAN TRANSFORM SMALL BUSINESSES — MOULA federal government’s backing of the digital economy can help lenders use artificial intelligence, says fintech lender Moula. The SME specialist is using AI to help make loan decisions and has commended the $1.2bn the government has committed to the digital economy, including the set-up of a National AI Centre. “AI is transformative for business,” said Moula chief product and data officer Paul Pesavento. “We’ve been using it to help service our SME clients faster, bringing our average credit decision time down from 24 hours to less than two.” THE

LENDER OFFERS LOANS BASED ON EFTPOS lender Apickle is pioneering a new form of fintech lending in Australia by offering loans based on the totals from small businesses’ EFTPOS machines. Apickle’s interest-free unsecured loans help SMEs with cash flow problems, introducing a style of financing that is still in its infancy in Australia. “It’s really just a matter of being able to ask people what they have done in the last six months and see what their EFTPOS terminal has done, and then lend them the average,” Apickle managing director Peter Wyszenko said. ONLINE

“Our vision is to remove the need for the myriad of complex commission files produced daily in spreadsheet format”

Nick Nicolaou Principal consultant and director, Escientia

Nick Nicolaou, principal consultant and director, Escientia

ESCIENTIA PLATFORM REVOLUTIONISES BROKER COMMISSION PROCESSING A smart solution was needed to streamline the complex process of organising mortgage broker commission payments, so Escientia came up with Assist Commission platform provider Escientia is celebrating another milestone achievement for its mortgage broker commissions management platform. The Assist Commission SaaS model has gained wide attention from the broking industry for its ambitious goal to modernise the current antiquated processes of reconciling commissions payments to mortgage brokers and their referring partners. By January 2021 over one million transactions had been processed via the platform since the digital product was launched in late 2019. Escientia, a pioneer in mortgage broker commissions payment reconciliations, recently added a funder-specific module to Assist Commission. Escientia principal consultant and director Nick Nicolaou said this had led to lenders and mortgage managers using Assist Commission, which incorporates DIGITAL

each stage of the commission management process within a single cloud-based platform. He said it was a huge advancement for the commission management platform, underpinning its proposition as the engine behind reconciling broker commission payments from start to finish. “The latest release of Assist Commission now positions Escientia as a unique and powerful SaaS platform for the payment of commissions to mortgage brokers from any source,” said Nicolaou. “With lenders, mortgage managers and aggregators joining the platform, the flow of commissions between lender, mortgage manager, aggregator and brokers is much more fluid, simpler and less time-consuming.” Escientia plans to have thousands of brokers and their referring partners connected over the coming years.

“Our vision is to remove the need for the myriad of complex commission files produced daily in spreadsheet format.” “Adopting Assist Commission ends the need to modify spreadsheets, search through emails or folders. You can intuitively search, find and download lender income, loan balances, book value and RCTIs all within a simple web-browserbased user interface.” Nicolaou said speed and efficiency were imperative to Assist Commission’s design. “With over 60 lender commission file processors already in place, uploading lender commission files is a breeze. There’s no need to modify, reorder, change labels or copy and paste. Assist Commission recognises the lender’s format and automatically transposes this into the system and matches against the designated broker.” The system features sophisticated data mining, with the ability to search and report on loans balance, interest rate, expiry and type. Brokers can also log into a portal to track their loan book value, manage their portfolio and download their RCTIs.

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08/06/2021 7:20:48 am

NEWS

MARKET REGIONAL RENTAL COSTS UP BY 9.6% ANNUALLY Australia’s rental market rates continue to shoot upwards, with CoreLogic reporting that the annual growth rate for rents has tripled in the last year. Sydney and Melbourne have vacancy rates hovering around the 3% mark – seen as the correct balance between supply and demand. But outside these capital cities vacancies are much lower, indicating that the number of renters outstrips the available dwellings. This has led to big rental rises in the regions – 9.6% on average in the last 12 months, compared to 3.3% in the capitals. REGIONAL

DATA SHOWS MANY AUSSIES DON’T UNDERSTAND FINANCE

Mike Felton, CEO, MFAA

BROKER MARKET SHARE REACHES NEW HIGH — MFAA SURVEY Brokers continue to enjoy strong market share, with new MFAA and Comparator figures for the March quarter showing a huge boost in the value of new loan settlements turnaround times have not stopped mortgage brokers from achieving a remarkable result – a 27% annual increase in the value of new loan settlements in the January to March 2021 quarter. The latest data released by research group Comparator, a CoreLogic business, and commissioned by the MFAA, shows the overall value of new lending facilitated by brokers during the quarter reached just over $62.2bn, representing an increase of $13.2bn when compared to the $49bn settled in the March 2020 quarter. The value of new settlements through brokers is the largest observed in a March quarter LENDER

and the second largest in any period since the MFAA first commissioned the data in 2013, surpassed only by the December 2020 quarter, which recorded $64.1bn. Broker market share also remained strong, with brokers settling 57.5% of all new residential home loans during the March 2021 quarter – 5.4 percentage points higher than the March 2020 quarter. It is also the second-highest market share ever in that quarter. MFAA CEO Mike Felton said the result was made even more significant by the lender turnaround and discharge issues that hampered the broker channel during the quarter, after

data has revealed that as many as 84% of Australians who do not own their homes are in the dark about finance. The Know Your Numbers report found that people wanted to learn more about home loans, rates and deposits before buying a home. More than 50% of respondents did not know the meaning of LVR. Terms such as LMI, offset accounts and negative gearing were also poorly understood. UBank CEO Philippa Watson said the bank had initiatives to make learning about finance fun, but mortgage brokers could also educate their customers. UBANK

peaking in January 2021. “Data released by major aggregator AFG earlier this year showed that turnaround times had spiked to a three-year high for AFG brokers to a median across all lenders of 27.1 days for the quarter ending 31 March 2021, which will no doubt have hampered mortgage broker market share for the quarter,” Felton said. “This outstanding broker market share result however provides encouraging signs for the potential market share mortgage brokers could attain if turnaround differentials between branches and the broker channel for the major banks are eradicated and discharges start to occur within a reasonable period, both of which remain a key focus for the MFAA. “Ultimately, these results show yet again the resilience of brokers who continue to meet and overcome the external challenges they face thanks to an unwavering focus on customer outcomes and professional service.”

“These [market share results] show yet again the resilience of brokers who continue to meet and overcome the external challenges they face” Mike Felton CEO, MFAA

BROKER SETTLEMENTS SHOW STRONG GROWTH TREND

$62.2bn

$64.1bn

$57.5bn

$52.8bn

$49.0bn

$51.9bn

$46.0bn

$42.3bn

$40.8bn

$50.2bn

$49.5bn

$46.1bn

$52.2bn

$51.8bn

$49.5bn

$46.0bn

$50.2bn

$48.6bn

$46.4bn

$43.4bn

$49.9bn

$49.5bn

$47.2bn

$40.6bn

$43.7bn

$41.3bn

$39.3bn

$34.1bn

$36.9bn

$32.0bn

$30.6bn

$24.1bn

$48.8bn

Source: MFAA Quarterly Survey of Brokers, CoreLogic Comparator

Value of new residential home loans settled by mortgage brokers 2013–21

JFM AMJ JAS OND JFM AMJ JAS OND JFM AMJ JAS OND JFM AMJ JAS OND JFM AMJ JAS OND JFM AMJ JAS OND JFM AMJ JAS OND JFM AMJ JAS OND JFM 13 13 13 13 14 14 14 14 15 15 15 15 16 16 16 16 17 17 17 17 18 18 18 18 19 19 19 19 20 20 20 20 21

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08/06/2021 12:15:19 pm

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08/06/2021 7:21:06 am

NEWS

INDUSTRY BODIES FBAA WANTS BROKERS TO STUDY GOVT SCHEMES must equip themselves with knowledge of the latest government schemes to assist potential homebuyers, according to the FBAA. Managing director Peter White said brokers could help borrowers understand the First Home Super Saver, First Home Loan Deposit and Family Home Guarantee schemes, given their expertise. “Brokers will be called upon to help people in a way that lenders, accountants and other finance professionals cannot. It is essential that as soon as the details are known and rolled out, we educate ourselves on every aspect.” BROKERS

PIPA PRAISES NAB FOR CUTTING INVESTOR RATES reduction of its investor interest rates by 30 basis points has been welcomed by Property Investment Professionals of Australia. NAB’s Investor Base Variable Rate (BVR) Special was reduced to 2.79% and new BVR investor-only loans to 2.99%. PIPA chairman Peter Koulizos said it was a welcome initiative for property investors because “they’ve been in the background for the last 15 months with first home buyers taking advantage of grants and incentives”. “Investors are moving back in, and this will encourage them even further.” NAB’S

Anna Bligh, CEO, Australian Banking Association

DEBIT CARDS NOW KING OVER CASH, CREDIT — ABA STUDY New data shows that how we pay for goods has changed significantly during the pandemic, and there is a clear payment method winner: debit cards has accelerated the use of debit cards, while cash and credit cards are increasingly falling out of favour, according to a new ABA analysis of Reserve Bank data. The report shows debit cards are Australians’ clear choice of payment method, outweighing credit cards by almost three times, while the use of cash has significantly declined. Debit card use rose 17% in 2020, in comparison to cash withdrawals, which fell by 10% in the same period, while cheques made up less than 0.5% of all transactions. ABA chief executive Anna Bligh said that while debit card usage COVID-19

“Debit cards continue to be the number one choice when Australians purchase something in person or online” Anna Bligh CEO, Australian Banking Association

had been increasing over the last decade, it had accelerated as a result of the pandemic. “Debit cards continue to be the number one choice when Australians purchase something in person or online, and that means the majority of us are paying with our savings instead of credit,” Bligh said. “This trend hasn’t always been the case. In 2006, Australians used credit and debit cards equally. Twelve years later in 2018, Australians used debit cards at almost double the rate of credit cards, and just three years later it’s almost triple.” Ten years ago, debit cards made up 44% of all transactions,

which has now increased to 71%. Credit cards made up 32% and have now declined by 7% to a total of 25%. The increase in debit card use is matched by the decrease in cash withdrawals, reflecting the decline in cash transactions in Australia. “Unsurprisingly, particularly due to stores encouraging cashless transactions throughout the pandemic, the use of cash declined a further 10% on the previous year, which is another sign of Australia moving closer and closer to a cashless society,” Bligh said. “Australians love new technology. More and more of us are doing our banking online or through apps, and we can expect the use of cash to continue its decline in 2021 and the future.” The use of cheques fell by almost 40% in 2020 and equated to less than 0.3% of the year’s total payment transactions.

DEBIT CARDS TOP CHOICE AS CASH USE DECLINES Number (m) of debit, credit and cheque transactions, Mar 2008–Mar 2021

Source: ABA analysis of RBA data

800 700 600

Debit cards

500

Credit and charge cards

400 300

Cash withdrawals from ATMs

200

Cheques

100 Mar 2021

Sept 2020

Mar 2020

Sept 2019

Mar 2019

Mar 2018

Sept 2018

Sept 2017

Mar 2017

Sept 2016

Mar 2016

Sept 2015

Mar 2015

Sept 2014

Mar 2014

Mar 2013

Sept 2013

Sept 2012

Mar 2012

Sept 2011

Mar 2011

Mar 2010

Sept 2010

Sept 2009

Mar 2009

Mar 2008

Sept 2008

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08/06/2021 7:21:20 am

OPENING DOORS TOGETHER We’re working with you to open doors for more Aussies.

westpac.com.au/brokers

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WBF21/WBG107

08/06/2021 7:21:35 am

FE AT URES

COVER STORY

DOYENNE LEADS THE WAY FOR GENDER DIVERSITY Boosting the number of women in broking continues to be a challenge for the industry, but awareness is growing and progress is being made through initiatives such as the ANZ Doyenne Program

it comes to championing women in finance, Simone Tilley doesn’t just talk the talk. ANZ’s general manager of retail broker backs her words up with actions. In 2018, Tilley helped set up the ANZ Doyenne Program, which provides a platform for female brokers to lift the representation of women in the media. As a senior female executive, she is in a prime position to promote greater female participation in broking, as well as media coverage. Tilley is the only female broking head at one of the big four banks and is responsible for about 60% of ANZ’s Australian mortgage flows. For the second year, Tilley has been named one of MPA’s Mortgage Global 100, which recognises leading mortgage influencers who are helping to drive positive change in Australia, New Zealand, the UK, the US and Canada. She is also chair of the Combined Industry Forum and direct liaison with the Australian Treasury and ASIC on behalf of the industry, a director of the LIXI board (a data standards organisation) and group chair of ANZ Sustainable Households. Tilley has been in the finance industry for 25 years, with 11 of those spent at ANZ. “I began my journey in agribusiness, lending money to farmers,” she says. “It was a very male-dominated domain at the time. In many cases I was the first female bank manager the farmers had had in their lives.” Despite all her accomplishments, Tilley says the highlight of her career has been her “enduring relationships – not only within the bank but, importantly, with customers and others within the industry”. “The key is being authentic and acting with integrity over an extended period of time.” Tilley says her mother was one of her most significant role models. “My mother was an entrepreneur WHEN

and the first woman in Australia to start her own label adhesive flexographic business. “She was fearless – no mountain was ever too high. We outgrew seven factories in 17 years. She was a continuous learner, read widely and surrounded herself with exceptional people. I learnt a lot at an early age

female representation in finance, particularly at senior levels. “For ANZ, it is more than just an issue of gender equality; it’s about accessing the talent, markets and economic opportunities that gender equality brings,” she says. “It makes sense for our workforce to reflect the communities we serve.

outpaced that of other industries. “Australia’s major financial services firms have the second-highest representation of women on executive committees in the world. But globally, 20% of women on executive committees and 23% on boards, in my view, is still not enough. If we want more than incremental change, we need to move the needle at the more senior and influential levels.” The MFAA’s latest Opportunities for Women report shows that the number of female brokers continues to fall, with 604 fewer female brokers in March 2020 than in April 2017. Tilley says the report identifies what women regard as the top three barriers to entering the finance industry: unconscious biases, an industry culture that is not inclusive of women, and a lack of development and progression. “Although more work is needed to address the causes of these barriers, I think there has been positive change delivered through greater awareness and education. There is now an emerging group of inspirational female brokers who are courageously

“There is a group of inspirational female brokers who are courageously sharing their stories as to how they have overcome traditional barriers” Simone Tilley, general manager retail broker, ANZ from the courage and determination she exhibited.” Inspired by her mother, as a young adult Tilley ran her family’s manufacturing business and started her own packaging business, which was later sold to a multinational. Tilley is passionate about greater

This will help us unlock opportunities through better serving our communities and female customers.” Improvements are occurring, Tilley says, pointing to Oliver Wyman’s latest Women in Financial Services 2020 report, which shows that the rate of progress in financial services has

TOP THREE BARRIERS TO WOMEN’S PARTICIPATION IN BROKING Source: MFAA Opportunities for Women Report 2020

All respondents

27.4%

Unconscious beliefs about gender roles in the workplace

An industry culture that is not inclusive of women

Safety concerns (eg sexual harassment, physical safety, etc)

18.6%

17%

Female

37%

Unconscious beliefs about gender roles in the workplace

28%

An industry culture that is not inclusive of women

20.4%

Lack of development and progression

Male

22.9%

Unconscious beliefs about gender roles in the workplace

18%

Safety concerns

15.7%

Lack of industry experience and expertise

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In partnership with

journalist Amanda Gome, former CEO of Crikey and publisher of BRW magazine and Smart Investor. Participants take part in Zoom sessions in June, July and August. Doyenne alumni remain in the program and network and share best practices with other doyennes, including new recruits, during ‘Lunch and Learn’ sessions in September and October. The program’s goals include: creating a strong pipeline of female role models to drive a more balanced representation of female voices in the mortgage industry providing female leaders with the skills to build a digital profile and influential network in a social world positioning female leaders as thought leaders and experts sharing advice and expertise connecting female mortgage leaders and brokers with each other and ANZ executives developing a list of female influencers in the finance industry that are a go-to point for journalists

Simone Tilley, general manager retail broker, ANZ

sharing their own stories as to how they have overcome traditional barriers. In some cases, the barriers were themselves and not believing they could take the next step.” Creating and investing in programs that support women as they progress in their careers remains essential to retaining female brokers, says Tilley. “The importance of sponsors and peer-to-peer networks has proven to be instrumental in the way women feel supported, particularly at times when they may be at a critical turning point in their business and require independent reassurance. “While the needs of men and women with respect to running a business are very similar, given the strong disparity in the industry, some women are naturally daunted by the lower representation and perhaps curious as to how they will be set up for success. “The media also has an important role to play, actively seeking out a balanced voice across a wide spectrum of the market so the market sees and, most importantly, values equality.” Tilley says mortgage broking can be a rewarding career, and there are many successful female brokers. “Through a number of targeted

initiatives such as Industry Influencers, Champions of Diversity and ANZ’s own Doyenne Program, the industry has raised the visibility of these successful female brokers. “If we continue to focus on empowering and encouraging women who are already in the industry, this could boost the numbers.” The pandemic has also created greater flexibility for women. “I think COVID-19 has enhanced everyone’s understanding of it – that flexibility comes in all shapes and sizes and is for everyone,” Tilley says. “This is a real positive for gender equality, because we know supporting men to work flexibly enables women's increased participation in the workforce, a key to achieving gender equality.” The pandemic has changed how people work, accelerating digitisation. “And like many industries, there needs to be a renewed focus on ways to promote inclusion in a remote working environment so people feel valued and connected. These aspects will go a long way in supporting women to deliver outcomes in a way that works best for them, both personally and professionally.” The cornerstone of ANZ’s push

to raise the profile of women is its Doyenne Program, which begins its 2021 program this month. Tilley says when she started in her role as ANZ’s head of retail broker five years ago, there were “virtually no women” featured in industry magazines, something she found “confronting and disappointing”. “It prompted me to take action and actively address this gap – provide support, tools and encouragement to prominent women already running established and respected businesses. “Our idea was threading prominent female business brokers with the journalists so they could build trust and rapport. The product of that has been a ripple effect of change.” ‘Doyenne’ is a French feminine word meaning most prominently respected woman in a particular field. New doyennes (female brokers) are recruited each year and take part in a series of learning events to build skills based on developing their profiles, raising visibility and networking. “I’m proud to say it has delivered incremental change, including improved balance in broker media,” says Tilley. The ANZ Doyenne Program is run in partnership with Notable Media

ANZ has other programs to drive change, such as Notable Women and Employee Networks, and partnerships to support gender balance. “Our education program includes new-to-industry training and ongoing training tailored to brokers across the life cycle, so we are able to support new female recruits and continue to support females as they develop in their career,” says Tilley. “Our own teams that serve brokers, our BDM community, are relatively balanced across Australia also.” Tilley says industry leaders also need to consider the effect of policies and practices on the workforce and customers. “We need to be intentional in our decision-making to consider whether they disproportionately or adversely impact women, and rolemodel the dialogue around this. “We also need to shift the narrative to highlight the economic benefits of diversity. By reinforcing the value that women add to the industry, we are better equipped to drive respectful cultural change at scale.” Tilley says there is substantial research on the benefits of diversity, including helping companies better understand and serve their customers. “It can improve business outcomes, increase profitability and strengthen governance, problem-solving and decision-making processes by fostering a culture of innovation, creativity and curiosity. Research has shown that organisations that invest in diversity outperform organisations that do not.” AB www.brokernews.com.au

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PEOPLE

Have an interesting deal? Have a particularly difficult or interesting deal? Why not share it with us? Email:

antony.field@keymedia.com

BIG DEAL Gordon MacVicar runs the Mortgage Choice Peregian Beach brokerage on Queensland’s Sunshine Coast. He assisted a couple who wanted to buy an investment property but had been told by their bank that their loan application was outside policy THE FACTS

Client Self-employed married couple, both aged 55

Loan size and term $220,000 over 30 years with a $30k deposit

Goal To purchase an investment property to add to their growing portfolio

Location Northwest Tasmania

I recently helped a married couple, both self-employed, who own a medical equipment business in Queensland. They wanted to purchase another investment property in their favoured location in the northwest region of Tasmania. Demand for rental properties in this area has increased strongly in 2021, and the region is seeing some of the best rental yields in Tasmania at the moment. My clients wanted to take advantage of this trend as part of their long-term wealth-building strategy. Thinking it might be more convenient and simpler, the couple approached their existing big four bank for finance, but they were then made to jump through hoops for several months without success. At the eleventh hour, and after three finance extensions, the bank told them their loan application was outside policy. In desperation, at 3pm on the day of the last finance extension the bank had offered them, the couple called me to see if I could help them get a loan for their desired investment property purchase.

THE TAKEAWAYS

What lessons were learnt from this situation? Judging by this couple’s experience, it is clear that banks are making it harder for Australians to get a loan – even if they already have an existing banking relationship. Having tried to go it alone, my customers came to realise the valuable role a good mortgage broker could play

Gordon MacVicar Owner operator, Mortgage Choice Peregian Beach

registration, and six months’ worth of business activity statements. I also worked with their accountant to get a signed declaration of their financial position. Luckily I already had some of this information to hand, which sped things up significantly. Using all this information, we were able to rely on more recent income verification documents to prove my clients’ current and sustainable income levels for loan serviceability. This was a more accurate reflection of their income as opposed to averaging their business financials across the last two financial years. Looking at their most recent financials, I could see the couple’s business was in a strong position, having weathered the COVID-19 pandemic, and that their income from their medical equipment business was up considerably since an understandable drop in 2020. Recognising that they needed a fast turnaround time on the loan and

in getting the outcome they needed. They really appreciated how quickly I was able to come up with a solution when they thought all was lost. So, how would I approach these types of deals in the future? I’m quite comfortable writing and recommending alt-doc loans as I’ve helped quite a few self-employed customers in the past. It is clear there is a growing appetite for self-employed customers wanting to get into the home loan market, and my customers’ experience has highlighted to me how rewarding it can be to be able to offer outside-the-box solutions for this particular customer segment. I am already having active discussions now with some of my existing selfemployed customers who may have previously thought they had to wait a lot longer before they could realise their financial goals. Customers should always be aware of the options available to them through non-bank lender alternatives. AB

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I s b

My customers’ experience has highlighted to me how rewarding it can be to be able to offer outside-the-box solutions

THE SOLUTION

Aggregator Mortgage Choice

supply a couple of forms of evidence so they could prove their income and satisfy Pepper Money’s credit assessment criteria. This included their ABN registration details, their GST

THE SCENARIO

I had assisted this couple in the past with another loan for their business and, knowing their employment circumstances, I knew that they needed an alt-doc loan. As the clients were self-employed borrowers who had been in business for a couple of years, I asked them to

Lender Pepper Money

knowing Pepper Money could deliver on that, given its reputation and ability to offer fast service level agreements, the couple chose Pepper Money on my recommendation. I quickly reached out to my Pepper Money BDM, Stefan Heather, who to the couple’s delight got straight onto the transaction for them. He was able to get my clients conditional approval in two days, and the entire deal was sorted out in seven days, allowing them to make an immediate offer on their chosen property. When I gave them the good news that Pepper Money had approved the loan, the wife started crying in genuine relief. They had become so frustrated by the long, drawn-out process and feared they would miss out on the property purchase if it was delayed any further.

07/06/2021 1:46:41 pm

make the switch If you are considering a change of aggregator, get in touch today and speak to our business development specialists about our cutting-edge broker support solutions that help you unlock your full potential. Join Finsure today and start benefiting from our range of services. N Flexible commission structures N Intuitive aggregator software ‘Infynity’ N Ongoing business support N Personalised marketing support N Loan processing services N Third party solutions to grow revenue N Market-leading compliance support

get in touch 1300 FINSURE (346 787) www.finsure.com.au

Australian Credit Licence 384704

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OPINION

BIOMETRICS CAN BEAT THE FRAUDSTERS Andrew Tierney is an adviser on credit, risk and governance and director of Sydney firm Balance Risk Management. He believes the use of biometrics is the best way to prevent online identity and fraud scams verification has provided a level of comfort historically. It isn’t a silver bullet, but it has been used by online financiers in their application process. The problem is that fraudsters have become more sophisticated, and with increased traffic online, it is easier to ‘steal’ the identity details of an individual. It follows that an increased level of online identity verification is required. One way that biometrics has shown it can level the playing field is through ‘liveness’ testing. This uses a copy of a confirmed identity document and matches it against a video of the individual, comparing the video to the picture

someone in the street came up to you and asked for $1,000, would you give it to them? You don’t know who they are, you can’t tell what they have done in the past, and you certainly don’t know if they will return the money. What about if they asked to look inside your wallet, or your house? Since the outbreak of the COVID-19 pandemic in 2020, more people have been accessing services and products online. Companies that are providing services or products cannot be certain who they are interacting with, unless they complete strict identity verification and fraud mitigation. On the consumer side, stolen identity is a huge risk online. If we think of onboarding a customer in terms of its position on a spectrum of importance, verifying the identity of the individual must be considered as significantly high. If you give money, or access, to someone you haven’t verified, you are opening yourself up to all manner of indiscretions. With online identity and fraud scams increasing exponentially across all industries, I look to biometrics as a way of reducing that risk. It may be a surprise to most people that the first recorded attempt at fingerprint matching, a type of biometrics, by police in a criminal investigation was in 1892. Easy access to online victims means that identity takeover, fraudulent activity and cyberattacks on businesses won’t be going away any time soon. Just read the news to see the increase in both frequency and ferocity. Biometrics covers a wide range of indicators, from signature through to physical movement. Investigators in 1892 would have boggled at the biometrics we have today. The following key areas show the potential for biometrics. IF

Building a picture of real identity Identifying that an individual’s identity exists is only half the solution. Identifying a person’s identity through document 18

Even in identifying suspicious behaviour, biometrics offers additional ways to combat it. Biometrics is not just about facial recognition. Typing and engagement patterns are additional methods for highlighting suspicious activity. Navigation patterns can also pinpoint differences in behaviours, and then it’s a short shift to ‘who is this?’ The battle against rising fraud Over the last decade it has been reported that fraud activity resulting in financial loss has cost Australians $2.5bn. In 2019, compromised business emails have become the highest category of loss at $132m.

I see the use of biometrics becoming more prevalent, with new ways of capturing and consuming this data in as little as five years using a biometric-defined matching algorithm. This increases the window of confirmation significantly. And ‘liveness’ is only one of the tools that can be used for geolocation of the device; the IP address and other data can be utilised to build a picture of where and how this identity is being confirmed.

Andrew Tierney Director, Balance Risk Management

Detecting suspicious access to data Once you have allowed someone into your ecosystem, whether customer or employee, it is essential that layers of protection are embedded into the login process. How many times have we heard about unauthorised access, or hacked systems? This has become an issue in modern times as more people are now working from home – a trend that’s likely to continue. To combat this, companies have introduced multi-factor authentication, and they monitor for suspicious activity to identify any illicit access. Could liveness authorisation be a tool once suspicious activity is noticed? The answer is yes.

I believe that biometrics can, and will, help prevent fraudulent activity. It will also provide a level of comfort to individuals who go online to do their grocery shopping, buy a pair of jeans, or log in to their bank accounts. Could we see this technology being used in marketing, medical services and the armed forces? Anything that makes processes simpler for the customer, while protecting their data, is good for industry. I see the use of biometrics becoming more prevalent over time, with new ways of capturing and consuming this data in as little as five years. With respect to the wider implications for privacy and protection of data, the biometrics industry has commented that “while there is a use for this technology in many different industries, we understand the need for privacy and consent. This is something that the biometrics industry fully supports”. There are wider and more far-reaching use cases for this data, and we will have to navigate this carefully, but the benefits appear to be huge. AB

www.brokernews.com.au

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To find out more about MFAA member benefits or to become a member call us on 1300 554 817 or visit mfaa.com.au J000561_MFAA Member Campaign_Ad_FA.indd 1 18_AB1811_Opinion_SUBBED.indd 19

23/03/2020 07/06/2021 1:48:399:24 pm AM

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TR AINING AND DE VELOPMENT

EDUCATING BROKERS A LONG-TERM INVESTMENT Change is the only constant in finance, from evolving regulations to new digital lending products and government support for SMEs, so it’s essential that brokers and BDMs are equipped with the necessary skills and knowledge to keep up it comes to the training and professional development of mortgage and commercial finance brokers as well as BDMs, all banks, non-bank lenders, franchise networks and aggregators recognise the importance of educating their staff. Australian Broker asked leading non-bank lender Pepper Money and major aggregators Finsure and Mortgage Choice to share their approaches to providing ongoing training and development of brokers and other staff. WHEN

Value of training and development Pepper Money general manager mortgages and commercial lending Aaron Milburn says the non-bank has always had a strong focus on educating mortgage brokers as it seeks to increase awareness and promote the benefits of non-bank lending for Australian families underserved by the big banks. “So, it’s important that Pepper Money employees are aware of those benefits too, along with the broker technologies, like the Pepper Product Selector and tools that support that adoption, like the Five-Step Process,” says Milburn. Simon Bednar, Finsure’s general manager, says education is the cornerstone of success, whether for its brokers or for its staff. 20

“Being at the forefront of training and development programs is what has helped Finsure stay ahead of the pack over the years,” says Bednar. “With compliance continuing to be the major focus for our industry, particularly in 2021, Finsure has been leading the industry in this area with extensive and comprehensive in-house education programs.”

Aaron Milburn, general manager mortgages and commercial lending, Pepper Money

to sustainable business growth for Mortgage Choice.” In-house training, PD programs Finsure runs a broker academy for those new to the industry, which was established five years ago. “Finsure partnered with training organisation AAMC to produce a 24-month mentoring program that

“It’s vital that brokers are prepared and educated for the future so that they can capitalise on every opportunity that exists in the market” Aaron Milburn, general manager mortgages and commercial lending, Pepper Money Mortgage Choice prides itself on the training and professional development it offers its franchise network, says David Zammit, general manager distribution and wealth. “Learning and development is a critical business unit in our organisation,” he says. “Our learning and development programs must educate, mentor and showcase ongoing career advancement for everyone. We take the view that these programs are a vital pathway

incorporates a Cert IV in Finance and Mortgage Broking, a Diploma in Finance, plus a range of practical skills to equip graduates with all the expertise needed to maximise their chances of success over the long term,” Bednar says. “We also work in conjunction with some external providers to offer legal, accounting and property advisory services, and we can provide advanced financial management reporting and business analytics

to help open up new revenue opportunities.” Bednar says Finsure also stages quarterly personal development days throughout the country, which are always extremely well attended. “These cover a wide range of industry issues and provide a means for our broker partners to raise any issues or concerns. Finsure is set up to assist our broker partners with business-to-business solutions, and our PD days are an important part of this process.” Finsure’s proposition is not simply a one-size-fits-all service, says Bednar. “We can tailor our support services to be just as valuable to a large mature brokerage as we are to a new-to-industry broker. At the heart of our ethos is being big enough to deliver and small enough to care. Our numbers regarding recruitment and retention demonstrate this is something brokers value.” Other programs for brokers include ongoing masterclasses presented by lender partners. During the COVID-19 lockdowns when many people were working from home, Finsure launched the Festival of Learning, involving online seminars held twice a year, which are still ongoing. The aggregator also hosts an annual Commercial and Diversified

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Simon Bednar, general manager, Finsure Group

Finance Summit to cater for the many brokers now looking to expand from home loans into commercial and asset finance. Mortgage Choice structures its training to provide continuous development, says Zammit. “Mortgage Choice has a five-day induction. It’s a blend of online and face-to-face learning, with the latter now delivered in each of our state offices. The induction is centred around getting ready for your journey at Mortgage Choice. For example, as a franchisee and broker you will learn the sales process, business and loan structures, how to plan for scale, and the best practice on handling loan applications.” Added to this, Mortgage Choice has a Level 1 program that helps new brokers through their first set of applications to lenders. “Both new and existing brokers also have access to a National Credit Coach to provide education and support with systems and lending,” Zammit says. “Our marketing team also hosts monthly webinars that cover a range of topics, from social media to local area marketing to website optimisation and creating customer campaigns.” Mortgage Choice offers further professional development through

events such as its state and national conferences, meetings, or coaching sessions with its in-house learning and development team and state offices as well as lender BDMs. Milburn says Pepper Money’s BDMs undertake training when they first join in order to understand the non-bank’s products, services and various broker technologies.

David Zammit, general manager distribution and wealth, Mortgage Choice

development needs, including soft skills, time management and presentation skills. Specific courses can be tailored for more bespoke needs as well.” Mentors for brokers Zammit says without mentorship and guidance, new brokers simply wouldn’t be able to run their

“Through our mentor program, we have helped over 200 individuals complete their 24-month training and emerge as fully qualified brokers” Simon Bednar, general manager, Finsure Group “This allows them to confidently discuss the diverse solutions Pepper offers to mortgage brokers and introducers,” he says. As well as product and mandatory compliance training for BDMs, all Pepper employees are encouraged to participate in in-house courses run by the Learning and Development Team, known as Learning@Pepper. “There are a variety of learning solutions offered to help meet

businesses from the get-go. “There is valuable information and wisdom to be passed down from franchisees that have been there before. They can offer advice around how to generate new leads, or what’s the best way to manage staff and business priorities.” Mortgage Choice runs a two-year mentoring program and has also set up host franchises that offer their expertise to new franchisees. “This is a weekly meeting

between the franchise owners where they follow a structured learning pathway to develop and master the skills needed to operate a successful brokerage,” Zammit says. At Pepper Money, mentors are key to BDM and employee development, says Milburn. “Mentoring relationships occur across the business on both an official and informal basis and can often be peer-to-peer or reverse in nature. Whatever the make-up, it provides a strong support network and aids in knowledge-sharing and camaraderie at Pepper Money.” Bednar says mentoring is extremely important. “We actively encourage mentorship at Finsure as we believe it can be crucial to a person’s development and, particularly in our industry, help people onto the pathway to become long-term brokers. “Mentors can offer insights that may not necessarily be obvious when learning training material. Mentorship allows senior brokers to share their experiences to improve their mentees’ development and motivate and help inspire candidates to reach their full potential. Through our mentor program, we have helped over 200 individuals complete their 24-month training and emerge as fully qualified mortgage brokers.” www.brokernews.com.au

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Training and development trends Milburn says there has been a big increase in training and PD days being delivered online, and virtually, in the past 12 months, out of necessity. “That changed the face of training delivery overnight. However, the economic recovery has led to many customers refinancing or purchasing properties, creating a lot of work for brokers. They are now so time-poor they are unable to dedicate long blocks of time – scheduled over successive days – to training. Training options that can be delivered in bite-sized pieces, or on the go, through podcasts, will likely proliferate in future,” says Milburn. Mortgage Choice has embedded just-in-time training into its mentoring program. “The state managers build broker knowledge and introduce concepts and scenarios designed to challenge the broker ‘just in time’ as they progress in their career,” Zammit says. “More recently, our franchise business managers [FBMs] in each state have taken on further responsibilities and now deliver the practical components of our induction, especially around systems and lending. “And more than ever, FBMs are playing a vital role in the training of our network – they’re assisting in the execution of marketing and business plans, as well as training franchisees

“Our leaders will attend broker meetings with newer BDMs to provide one-to-one coaching and feedback; in addition to this, all employees also participate in quarterly check-ins with their direct reports to make sure they remain on track with their development and are set up to achieve their personal goals.” At Mortgage Choice, Zammit says, learning and development programs are housed within a robust needsanalysis framework that identifies knowledge and skills gaps and includes a measurement mechanism to gauge effectiveness and ensure continuous improvement. “The measurement lies in a feedback loop built into the training process,” he says. “We can assess the skills and knowledge of the trainee to assess effectiveness of the training and identify further knowledge and skill gaps. Feedback is provided to the learning and development team to facilitate further learning and development programs.” Bednar says Finsure regularly conducts surveys and asks brokers to complete questionnaires at the end of every webinar. “Our professional development days are a great opportunity to gather feedback from brokers and lenders alike, with our BDMs asking during the event what their experience is like, what they look forward to and what they would like to see at these events in the future.”

“We can assess the skills and knowledge of the trainee to assess effectiveness of the training and identify further knowledge and skill gaps” David Zammit, general manager distribution and wealth, Mortgage Choice to scale up from beginner to master.” Bednar says Finsure has been very much focused on compliance for the last few years, with the introduction of the best interests duty and changes to responsible lending legislation. “The advent of new technology has meant broker training on new systems is more important than ever,” he says. “And given the isolation of so many during the pandemic, there’s also been a shift towards focusing on personal growth and mental health education.” Evaluation of training Milburn says Pepper Money “monitors the effectiveness of its training and PD programs through broker feedback, surveys and activity”. 22

Impact on company growth Mortgage Choice has rebuilt its learning and development strategy over the past 12 months, Zammit says, and recently unveiled a series of programs that build on the key pillars of education, mentoring and ongoing development. “These changes have also been fed into our wider recruitment strategy, which has seen great success. We’ve seen growth in the onboarding of greenfield franchisees and also significant growth in the number of loan writers and loan administrators across the business in 2020.” Milburn says Pepper is passionate about providing ongoing education to the third party broker channel. “It’s vital that brokers are prepared

MFAA’S CONTINUING PROFESSIONAL DEVELOPMENT ACTIVITIES Through CPD, members of the MFAA maintain, improve and broaden their knowledge, expertise and competence, and develop the qualities required in their professional lives. For brokers, earning CPD points is a requirement of ASIC and essential to MFAA membership. Formal activities (>3 hours)

Informal activities (<3 hours)

Peer and professional interaction

Contributions to the profession

Structured courses

Workshops

Mentoring or being mentored

Presenting research

Seminars

Reading

Demonstrating a technical application

Design and/or presenting a course

Technical training

Audio/video content

Discussion groups

Writing industryrelated articles/papers

Relevant qualifications

and educated for the future, come what may, so that they can capitalise on every opportunity that exists in the market. “Having held that position on education for many years, it is clear that raising awareness of the non-bank proposition has led to an increase in more Australian families getting the loans they need, and a growing number of brokers willing to recommend their customers to Pepper Money.” Bednar says that since the introduction of online webinars Finsure has seen a massive increase in engagement across its network. “2020 was our best year ever for settlements, and it came during a time when brokers were asked to log on to all training sessions. “Having carried those online training formats through to 2021, we are continuing our upward trajectory as brokers learn more ways to improve their business, meet their compliance obligations and connect with support partners who they may not have had the chance to contact if we just held face-to-face events.” Partnerships with industry bodies Pepper Money works closely with a number of peak bodies, participating in roadshows and education series for brokers on specialist and commercial lending. Milburn says its BDMs are constantly liaising with aggregators to attend or present virtually at PD days on Pepper’s products, customer scenarios and case studies.

Structured meetings

Bednar says every month Finsure hosts a series of masterclasses in conjunction with its valued lender and service partners. These are aimed at delivering the most recent industry updates and helping train brokers in the latest innovations. “Our team will work closely with our partners to ensure the content is relevant to our network and will help them remain at the top of their game. All masterclasses are accepted under industry associate and body CPD programs thanks to their educational content and expert presenters.” For new brokers, Mortgage Choice partners with an external provider to offer a fast-tracked Cert IV in Finance and Mortgage Broking. Zammit says this provides for a seamless education phase for new starters. “Participants are then enrolled in a two-year Accelerate Mentoring Program, which enables participants to receive the Diploma in Finance and Mortgage Broking Management. But before any loans can be written, each broker requires lender accreditation. These accreditations are usually completed with the assistance of our state offices.” Mortgage Choice also works with peak industry bodies to complete industry-wide training requirements. Zammit says an example is the Banking Code of Practice training, which required all brokers to be accredited, and it worked with the MFAA to complete that. Mortgage Choice brokers are members of the MFAA and complete the necessary CPD as part of that membership. AB

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SECTOR APPOINTMENT S

KEY MOVES IN THE FINANCE WORLD

Catch up on the latest appointments in the finance industry and meet six people who have moved to new senior positions in a range of companies

Anita Hyde Head of specialised and private, commercial broker, NAB Big four bank NAB has expanded its commercial broker team with the appointment of Anita Hyde to the newly established role of head of specialised and private. Hyde joined NAB in 2018 as managing partner in its health specialist finance team after serving in senior positions at St. George Bank, Genworth and Bankwest. She will lead a team that assists brokers in accessing NAB specialists across a broad range of segments. “What we’ve identified is a really unique service proposition with our specialised businesses that entails the commercial real estate, health, professional services, government education community, and private,” Hyde says. “All of those segments have a niche value proposition in the market which requires expertise from our bankers and credit managers.”

Mark Joiner, chairman, PEXA 24

Hyde says her deep understanding of these specialised industries and her ability to speak the language to brokers will help her ensure NAB continues to support the broker segment. NAB has more than 650 specialist bankers supporting brokers and customers in 160 metro and regional locations.

Mark Joiner Chairman, PEXA Highly respected finance industry leader Mark Joiner has been appointed independent non-executive chairman of the world’s first digital property exchange platform, PEXA. Joiner replaced Alan Cameron, who

“We can support our brokers by ensuring that they are making relationships with bankers to get the best outcome for their customers”

roles in Australia, the UK and the US at NAB, Citigroup and the Boston Consulting Group. Joiner is also non-executive director of the newly ASX-listed Latitude Financial Services and chairman of QBE Australia and New Zealand. “It is an honour to be appointed chairman of PEXA at a pivotal time for the company’s growth trajectory,” says Joiner. “I am excited by the opportunities that lie ahead as the world moves to digital property settlements, and look forward to working with the board, the executive team, regulators, PEXA members and the community to continue enhancing the PEXA platform to deliver faster, safer, more efficient and more transparent digital property settlements for users.” With Joiner at the helm, PEXA is seeking to take its expertise and experience in Australia into new markets, including jurisdictions with Torrens title property systems that largely rely on paper-based settlement processing, starting with the UK next calendar year. The PEXA platform has completed more than 7.8 million transactions and now handles over 80% of all property transactions in Australia; it is used by state land titles offices, 9,300 practitioner firms, such as lawyers and conveyancers, and 150 financial institutions.

Anita Hyde, head of specialised and private, commercial broker, NAB

Brook Holland BDM, ME Bank

“We can support our brokers by ensuring that they are making relationships with bankers to get the best outcome for their customers,” says Hyde.

Brook Holland recently joined ME as a BDM supporting brokers across NSW. With six years’ experience working alongside brokers, Holland says she is passionate about providing the best

stepped down after 11 years on the PEXA board. He has more than more than 30 years of experience in the finance industry, including senior executive

Anita Hyde, head of specialised and private, commercial broker, NAB

Brook Holland, business development manager, ME Bank

www.brokernews.com.au

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possible customer experience and looks forward to working with brokers at ME to help their clients get ahead. After graduating from Bond University, Holland kick-started her career at the Bank of Queensland Group shortly after the inception of Virgin Money Australia. She was appointed as Virgin Money’s broker support officer to assist in processing home loans in Queensland. After a year, Holland was promoted to business development associate at Virgin Money, relocating to Sydney’s head office to support BDMs across the state. She then built on her experience as relationship manager, managing her own portfolio of brokers, before moving to ME in May. “I enjoyed my tenure with Virgin Money Australia, working with the distribution team and watching the bank grow and develop its digital touchpoints,” Holland says. She is looking forward to building a similar career at ME – a second home given its recent acquisition by BOQ. Andrew Moulds Head of asset finance, Lend Lend, one of the leading names in the SME fintech sector, has announced the appointment of Andrew Moulds as its new head of asset finance. Moulds joins Lend with more than 25 years in the asset finance sector in various roles, including as COO of brokerage Amfin, general manager of a boutique asset lender, group finance manager at a multifranchise automotive group, and sales positions at top-tier lenders. He is also an accredited broker. “My vision is for Lend to be

Andrew Moulds, head of asset finance, Lend

recognised as the best commercial asset finance platform for brokers and lenders that increases their conversion rate and is constantly being improved,” says Moulds. His main focus will be to oversee the development of Lend’s asset finance platform and diversify its lender’s panel. He will work closely with Lend’s head of third party, Donelle Brooks, to support brokers in diversifying into commercial finance. “From a broker expectation point of view, they can expect to see an enhancement of our existing platform,” says Moulds. “At the moment, we allow them to service the funding needs of their SME clients, and we capture a number of products in the commercial space, which we will expand out to include asset finance. This will further strengthen that value proposition to clients and ensure that, from our perspective, we’re providing a holistic solution to brokers for SMEs. “We’ll continue to do that heavy lifting for brokers on the lender matching that we’re renowned for and apply it to asset finance. We’ll be making some upgrades to our existing platform to cater for that.” Kathryn Skok Business development manager, SA/WA/TAS, Moula “I’m excited to work with brokers across South Australia, Western Australia and Tasmania in my new role at Moula,” says Kathryn Skok. “Part of my role is building brand awareness in the South Australian market, as we’ve never had an SA-based BDM on the ground

full-time. My aim is to help brokers access finance for their clients, with fast turnaround times and the best possible service.” Previously, Skok worked in unsecured lending for three years after starting her career in Sydney. “While I may be newer to the industry than others, I’ve quickly gained a reputation for my solutionsfocused approach,” she says. “I’m focused on getting back to brokers in a timely manner, returning calls within the hour, and if I can’t help directly, referring business to others.” Skok says she was initially drawn to her new role because of Moula’s reputation in the industry,

Cristian Fedrigo National manager credit and settlements, Angle Finance Fedrigo joins non-bank equipment finance lender Angle Finance with almost 20 years’ experience in banking and financial services. Specialising in loans for transport, construction, materials handling and earthmoving equipment, Angle Finance has a broker-first approach. Fedrigo has spent the majority of his career in broker and intermediary channels. He held several leadership positions at AFG and most recently was head of sales and head of strategic partnerships at GetCapital. Fedrigo sits on several commercial

“Providing a superior broker–customer experience requires all departments working together to ensure a seamless transaction every time” Cristian Fedrigo, national manager credit and settlements, Angle Finance the attractiveness of its unsecured lending product, which has no early repayment fees, and the company’s collaborative, tight-knit team. Her goals include achieving month-on-month growth across SA, WA and Tasmania. “Working closely with underwriters is an advantage for a BDM; our underwriting team is only ever one quick call away and always willing to talk through what we need to reach the right outcome for any particular client.”

Kathryn Skok, business development manager, SA/WA/TAS, Moula

and asset finance committees across the broker industry. He holds a Bachelor of Business and Commerce majoring in Applied Finance from Western Sydney University. Fedrigo says his main vision at Angle Finance is to achieve frictionless harmony between the front line and back of house, supporting the sales team in assisting brokers. “Providing a superior broker/customer experience requires all departments working together to ensure a seamless transaction every time,” he says. AB

Cristian Fedrigo, national manager credit and settlements, Angle Finance www.brokernews.com.au

DATA

VICTORIA

NSW SPOTLIGHT

The HIA has lambasted plans to boost the state’s stamp duty and land tax The upcoming tax hikes by the state government of Victoria will only damage affordability and put a drag on housing demand, according to the Housing Industry Association. The government has proposed a new windfall gains tax on property developers in the state. Furthermore, a new premium stamp duty rate will be charged for property transactions with values above $2m. HIA Victoria executive director Fiona Nield said increasing land tax and stamp duty rates would only hurt Victorian home buyers. More than 40% of Victoria government revenue comes from property taxes, which is already a burden for many players in the market. “It is unfair to be taxing landowners further on property when Victoria already has the highest stamp duty rates in the country,” Nield said. “New taxes like these are passed on in higher land prices for all, and stamp duty inhibits people from selling properties to allow for new homes to be built – it has direct impact on new housing affordability.” Area

Metro (H)

Median

Quarterly

12-month

Weekly

Gross

price

growth

median

rental

$805,000

2.7%

rent

yield

6.1%

$430

2.9%

Metro (U)

$609,750

1.7%

4.9%

$400

3.5%

Country (H)

$463,888

4.6%

12.9%

$360

4.4%

Country (U)

$360,000

5.1%

11.2%

$300

4.8%

TASMANIA

Regional Tas topped the chart for home value gains in the latest quarter Tight competition for homes in Tasmania has boosted growth in dwelling values across the state and in Hobart, according to CoreLogic. Over the three months to April, Hobart registered the second-highest gain in capital city dwelling values of 7%, next to Sydney’s 8.8%. Regional Tasmania also recorded 7.7% growth. This was the highest uplift seen in a non-metro market in Australia. “The combined Tasmanian dwelling market has not seen a single quarter of value falls since a half-a-percent fall in August 2016. Dwelling price increases across Tasmania have been particularly exacerbated by low listings levels,” CoreLogic said. This could also explain why the sales volume over the year to April 2021 was down by 2.6%. CoreLogic expects home values to continue rising across the state as it recovers from the pandemic. However, the report flags two potential risks that could arise from this trend: higher COVID cases hurting the economy before vaccines are widely available, and growing affordability constraints. Area

Median

Quarterly

12-month

Weekly

Gross

price

growth

median

rental

rent

yield

Metro (H)

$600,000

3.8%

10.0%

$465

4.4%

Metro (U)

$440,000

2.4%

6.7%

$400

5.0%

Country (H)

$390,000

2.9%

10.8%

$345

5.0%

Country (U)

$305,000

2.3%

6.9%

$290

5.2%

VACANCIES ON THE RISE IN SYDNEY While rental demand lags in the state capital, its housing market continues to boast record-high values increasing number of rental homes remain unoccupied in Sydney, with vacancy rates rising to 4.3% in April, according to the latest report from the Real Estate Institute of NSW (REINSW). This increase followed a slight uptick in March. Sydney’s outer ring has driven the overall growth in vacancy rate, with a substantial rise to 3.2%. “Feedback from REINSW members indicates that demand remains strong for houses in the outer suburbs. However, renting out units is proving more difficult, with rent reductions commonly required in order to attract tenants,” said REINSW CEO Tim McKibbin. Vacancies in other Sydney regions declined, although the inner-ring region still reported a vacancy rate of 4%, with 5.8% in the middle ring. However, many parts of regional NSW enjoy historically low vacancy rates. Albury, Central Coast, Coffs Harbour, New England and the South Coast all recorded a drop in vacancy rates AN

in April. Only the Central West, Mid-North Coast, Northern Rivers, Orana, Riverina and southeast areas registered increases in vacancies. Meanwhile, Sydney has held its position as one of the top housing markets for value growth. Over the first four months of the year, values in the city rose by 9.3% to a new record high. “With such rapid growth rates across already expensive markets, affordability constraints are likely to become most pressing across Sydney,” a CoreLogic report said. CoreLogic said the momentum in the Sydney and NSW dwelling markets was largely the result of Australian monetary policy settings, as well as COVID-19 remaining well contained. “Unlike Victoria, where social distancing has slowed the economic recovery and demand for inner-city housing, the industries impacted by stage 2 restrictions last year in NSW are now starting to benefit from pent-up demand for discretionary spending,” the report said.

SYDNEY HOUSING MARKET INDICATORS Source: CoreLogic, May 2021

Property stats for the week ending 30 May 2021

New listings:

7,878

Total listings:

20,908

Houses

1,605

$901,750

Monthly sales volume

Median price

1,180

$649,950

Monthly sales volume

Median price

-2.4%

Median days on market Median vendor discounts

Units

-2.4%

Median days on market Median vendor discounts

SUBURB TO WATCH: LITTLE BAY Median price (houses) $2,190,000

Median price (units) $925,000

12-month growth

3-year growth

Average annual growth

Gross rental yield

22%

14%

12-month growth

Average annual growth

Weekly advertised rent

Gross rental yield

-3%

4.2%

$615

www.brokernews.com.au

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AUSTRALIAN CAPITAL TERRITORY

High demand for detached dwellings sees house and unit values diverge The ACT’s house and unit markets are likely to diverge in terms of value growth as demand for detached dwellings remains robust, according to CoreLogic’s latest report. Both houses and units are seeing an uptrend across the ACT, but the former have had a bigger impact on the rise in overall dwelling values. House values increased by 7.6% over the April quarter, outpacing the 2.6% gain in unit values. Meanwhile, approvals for house construction rose to 1,392, or 18.7%, in the 12 months to March 2021. Surprisingly, the uplift in unit approvals was 17.4%, taking approvals to 4,041. “The substantial lift in approved unit supply could see a further widening in the divergence between performance of the house and unit segment. Demand for detached houses could be constrained by affordability pressures,” the report said. Overall, the ACT dwelling market has continued to surge – April marked the 20th consecutive month of record-high value gains. Area

Median

Quarterly

12-month

Weekly

Gross

price

growth

median

rental

rent

yield

Metro (H)

$790,000

2.8%

9.1%

$600

4.2%

Metro (U)

$490,000

2.5%

6.7%

$480

5.4%

SOUTH AUSTRALIA

SA is shaping up to be a hotspot for property investment

HIGHEST-YIELD SUBURBS IN NEW SOUTH WALES Suburb

House

Gross rental yield

Median price

Quarterly growth

12-month growth

Average annual growth

BOURKE

13%

$103,750

15%

5.6%

LIGHTNING RIDGE

13%

$85,000

15%

21%

-0.5%

BROKEN HILL

12%

$120,000

-4%

-2%

1.3%

COBAR

12%

$121,000

-42%

-2.7%

NAROOMA

11%

$567,500

6.2%

WYEE

$335,000

1.5%

WELLINGTON

$178,000

19%

4.4%

EAST ALBURY

$182,000

-10%

-17%

NORTH ROTHBURY

$292,500

-35%

1.3%

SAPPHIRE BEACH

$265,000

-5%

-7%

-2.6%

An ANZ study reports that South Australia’s housing activity has reached a historic high as a result of robust interstate migration and an improving consumer sector. The volume of real estate transactions in the state grew by 90.6% during the first quarter of the year – the biggest increase among capital cities. “The housing component is at historic highs. Living in South Australia may have become more appealing because of how well it managed the pandemic, apart from the November blip. As such, South Australia’s Stateometer housing component is the second strongest across the states, after Western Australia,” the study said. BankSA chief economist Besa Deda said the high level of construction and housing activity continued to be a major driver of the state’s economy. “The lift in approvals will help generate a strong pipeline of residential construction activity and flow on to jobs which should sustain, if not lift, the level of employment in the state,” she said. Area

Metro (H)

Median

Quarterly

12-month

Weekly

Gross

price

growth

median

rental

$520,000

2.0%

4.8%

rent

yield

$395

4.1%

Metro (U)

$375,000

1.5%

8.6%

$345

4.7%

Country (H)

$303,000

1.8%

3.6%

$280

5.0%

Country (U)

$230,000

2.4%

-1.2%

$220

5.4%

www.brokernews.com.au

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DATA

WESTERN AUSTRALIA

Perth recorded the strongest growth in building approvals of all state capitals Archistar’s latest market update shows that, over the first three months of 2021, building approvals in Perth increased by 117.9% from the same period in 2020. Approval numbers in Perth during the quarter were second only to Melbourne’s but continue to widen the gap with Sydney and Brisbane. The market update’s author, My Housing Market chief economist Andrew Wilson, said the surge in approvals showed no signs of moderating despite the end of HomeBuilder. “The recent unprecedented increase in house building approvals is clearly a positive for a postCOVID economic revival, contributing to continued strong jobs growth and placing downward pressure on unemployment,” Wilson said. Private sector housing building approvals hit a record high in March, increasing by 11.8% from the previous peak in February. “Supply constraints, however, are likely to emerge as a result of a significant bringing forward of demand with higher building costs leading to higher new home prices.” Median

Quarterly

12-month

Weekly

Gross

price

growth

median

rental

rent

yield

Metro (H)

$529,000

2.9%

4.2%

$395

4.1%

Metro (U)

$405,000

2.2%

0.7%

$360

4.9%

Country (H)

$386,000

2.8%

10.4%

$370

5.2%

Country (U)

$237,917

4.7%

8.0%

$325

7.5%

163

Cleared

Uncleared

Clearance rate

69.3%

PERTH Total auctions

Cleared

Uncleared

Clearance rate

34.9%

Quarterly

12-month

Weekly

Gross

growth

median

rental

rent

yield

Houses

Units

$492,500

$820,000 $417,500

$595,000

$470,000

$670,000

$515,000

$420,000

$100,000

$372,500

$200,000

$493,250

$300,000

$410,000

$500,000 $400,000

$535,000

$700,000 $600,000

$574,000

$800,000

$0 Sydney Melbourne Brisbane

Adelaide

Perth

Hobart

Darwin

Canberra

CAPITAL CITY HOME VALUE CHANGES Capital city

Weekly change

Monthly change

Year-to-date change

12-month change

Sydney

0.7%

2.8%

12.4%

11.1%

Melbourne

0.3%

1.6%

8.1%

5.0%

Brisbane

0.5%

1.8%

8.6%

10.4%

Adelaide

0.6%

1.7%

7.1%

11.8%

0.3%

1.0%

7.0%

8.3%

0.5%

2.1%

9.9%

9.0%

Metro (H)

$535,000

4.2%

6.4%

$475

4.9%

Metro (U)

$320,000

0.2%

0.0%

$370

6.4%

Perth

Country (H)

$425,000

0.0%

2.4%

$500

6.2%

Combined 5 capitals

Country (U)

$350,000

6.3%

7.3%

$380

6.1%

Total auctions

$900,000

$720,000

Tight rental conditions in the NT are encouraging more first-time home seekers to consider buying instead of renting a property there, according to CoreLogic’s latest study. Over the 12 months to April, the median weekly asking rent across Darwin rose by $70. During the same period, the value of combined rental valuations increased by 18%, significantly higher than the national average of 4.9%. “Combined with low interest rates, positive cash flow opportunities may be encouraging investors to come back to this market,” the report said. “Adverse rental conditions for tenants may be encouraging more potential first home buyers to buy instead of rent.” This rapid increase in rental rates is one of the major drivers of the growth in dwelling values in this city. Over the year to April 2021, Darwin registered the highest annual gain in dwelling values of all state capitals at 15.3%, led by 18.2% growth in house values and a 9.5% increase in unit values. Median price

ADELAIDE

MEDIAN HOUSE AND UNIT PRICES

For many dwelling seekers, it is better to buy than rent a home in the territory

Area

It was set to be the second-biggest auction week this year, but Victoria’s latest lockdown caused volumes to drop. There were 2,930 homes taken to auction – the third-highest number of auctions in 2021 across the combined capitals. Of the 2,460 results collected, 75.7% were successful, compared to 78.2% the previous week, which revised down to 75.6% at final figures. With Melbourne in lockdown, 1,264 homes were taken to auction, compared to 1,291 over the previous week and 261 in the same week last year. The volume of auctions revised down, with 1,451 auctions previously predicted. Preliminary figures show that 72.8% of the 1,101 results collected were successful, compared to 77.6%, or 74.9% at final figures, in the previous week. There were 1,177 homes auctioned in Sydney, compared to 1,103 last week and 452 in the same week last year. With 969 results collected, the preliminary clearance rate was 81%, compared to 80% the week before. Canberra reported a clearance rate of 84.7%, Brisbane 71.9%, Adelaide 69.3% and Perth 34.8%.

$649,950

NORTHERN TERRITORY

WEEK ENDING 30 MAY 2021

$901,750

Area

CAPITAL CITY AUCTION CLEARANCE RATES

*The monthly change is the change over the past 28 days

www.brokernews.com.au

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BRISBANE CANBERRA Total auctions

Cleared

Uncleared

Clearance rate

Total auctions

192

Cleared

110

Uncleared

Clearance rate

71.9%

84.7%

SYDNEY Total auctions

1,177

Cleared

785

Uncleared

184

Clearance rate

TASMANIA

MELBOURNE Total auctions

81.0%

Total auctions

1,264

n.a.

Cleared

801

Cleared

Uncleared

300

Uncleared

Clearance rate

72.8%

n.a.

Note: A minimum sample size of 10 results is required to report a clearance rate.

QUEENSLAND

Area

Median

Quarterly

12-month

Weekly

Gross

price

growth

median

rental

rent

yield

Proposed rental reforms could discourage investors, REIQ warns The Real Estate Institute of Queensland has opposed the state government’s proposed rental reforms that would cap rent increases and scrap “no grounds evictions”. “It’s completely unrealistic to expect that lessors will continue to invest in Queensland real estate if faced with untenable arrangements that don’t allow them to protect the value of their asset and strip them of fundamental decision-making powers and rights,” said REIQ CEO Antonia Mercorella. She said it was critical that Queensland continued to attract property investors to improve rental supply, keep pace with demand and maintain rental affordability. “What we need are more incentives to better support both increased and ongoing property investor activity in the Queensland property market and the contributions they make to the state economy,” she added. One of the most concerning proposals was the rental caps, and Mercorella said this might not bode well given the high interstate migration to Queensland.

Metro (H)

$580,500

2.0%

3.9%

$420

3.9%

Metro (U)

$410,000

2.0%

2.4%

$385

5.0%

Country (H)

$470,000

1.1%

1.3%

$415

4.7%

Country (U)

$410,000

1.8%

5.3%

$350

4.6%

Source: Except where otherwise stated, all data sourced from CoreLogic, May 2021

NICK YOUNG: TRAIL BOOK SALE EXPERT Smart succession planning starts early Maximise the sale of your trail book and business as a whole 03 8508 6666 | 0417 392 132 | nyoung@trailhomes.com.au | trailhomes.com.au www.brokernews.com.au

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PEOPLE

Aggregator AFG

IN THE HOT SEAT

James Jabbour is a Sydney mortgage broker and team leader at Smartmove Professional Mortgage Advisors. The former rugby league player, who represented Lebanon, says the attributes he picked up as a player helped him make the transition to broking

You worked at Commonwealth Bank before you joined Smartmove. How did you become a broker? I first heard about broking when I was a branch lender at CBA, A and I loved the idea of providing customers with choices and options, especially if they did not fit a particular bank’s profile. I heard about Smartmove after a colleague of my brother left CBA to join Smartmove. After spending a short time at CBA, I was fortunate enough to receive an opportunity to join Smartmove in 2016. Having a wider range of choices provided me with the ability to assist and an opportunity to secure relationships with as many clients as I could. The way Smartmove onboards new-to-industry brokers has allowed me to thrive in the position of mortgage and finance adviser with a strong mentoring and education framework in place.

Tell us about your experience playing rugby league for South Sydney Rabbitohs, and representing Lebanon. I played rugby league for more than 10 years, on junior A representative teams such as the Bulldogs; in junior development squads the Roosters in the Harold Matthews Cup; for the South Sydney Rabbitohs in the S.G. Ball Cup; and in an international test match for Lebanon. It was a childhood dream to play representative football, particularly for Lebanon, my country of heritage. I faced loss, injuries and rejections in the early days of playing; however, through perseverance, I overcame those challenges. The discipline of resilience, hard work and a positive attitude that I learned throughout my journey of playing rugby league have carried through into my broking career.

What are the most important attributes of a successful broker, and what would you say to someone considering a broking career? the ability to understand a customer’s requirements A Having and feeling empathy towards their situation builds a trusted, long-term relationship outside of a transaction on a deeper level, and by communicating the steps involved you are educating the customer on the actions required to achieve their desired outcome. To anyone considering a broking career, it can be a challenging one in the early phases but the most rewarding as time goes on. It is important to have short-term and long-term goals and a clear overview of the steps involved to be successful.

F t

• • James Jabbour, mortgage adviser and team leader, Smartmove Professional Mortgage Advisors

What are some of your career goals? always strive for year-on-year growth with a focus on achieving a A Ihigher number of customer lodgements and settlements each year. One of my personal goals is to be recognised in the MPA Australia Top 100 Brokers. Additionally, a recent opportunity as a team leader at Smartmove has me mentoring and developing new-to-industry brokers, and my goal in this role is to develop as many brokers as I can within my team and help them achieve their desired goals in the industry, which I am fortunate to be involved in. AB

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BUSINESS

IN A NEW

WORLD Friday 30th July FBAA’s Platinum Events of the Year on the Gold Coast. • Family friendly event • COVID-19 Plans in place for out-of-state attendees

fbaaconferences.com.au

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16/10/2017 2:07:04 07/06/2021 1:55:38 pmPM