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Broker concerns to be aired as MFAA, FBAA come together

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Australian Broker | 05 Mar 2013, 08:00 AM Agree 0
A first of its kind public forum will give brokers the chance to put their concerns to industry associations as it brings together MFAA CEO Phil Naylor and FBAA president Peter White
  • OzBoy | 05 Mar 2013, 10:37 AM Agree 0
    Why not broadcast it and let us all be a part of it.
  • Garry | 05 Mar 2013, 10:43 AM Agree 0
    Both associations are a waste of time & money. They are obsolete in todays market. We are governed by ASIC so what relevance do these associations have anyway? The clients dont care about MFAA or FBAA and they dont know who they are. I for one have real issue with having to pay fees to a group who add absolutely nothing to my business.
    Get rid of both.
  • NoTimeLikeTheFuture | 05 Mar 2013, 10:44 AM Agree 0
    I agree.

    We are benefiting now from the work of the associations and we just don't realise it.

    It's an insurance policy to have infrastructure in place like the MFAA to tackle future problems and fight for sensible, workable policy.

    Anyone who drops out will will in effect free-ride on the rest of us.
  • Wilko | 05 Mar 2013, 11:31 AM Agree 0
    We are not governed by ASIC. Why do people keep saying this? Our aggregator, the industry bodies, ACCC, ASIC and any body else who can be part of it lay down laws and rules and this is the framework we work under.

    Personally, I prefer to have someone to make sense of issues and the funny thing about brokers who complain about these associations is that they have never been to see a rep or see what is available. I get off my butt and take advantage of their education and documentation every year. The ones who get no value are the ones who dont care. So be it.
  • Old Broker | 05 Mar 2013, 11:32 AM Agree 0
    Why don't you resign then you wan't have any fees to pay and no worries either until the government who governs your business through ASIC decides to enforce more changes, perhaps make you comply like Financial planners. So then you can charge your clients for your advice or service as the banks will stop the commissions as the goverment doesn't want your advice to controlled by commissions!
  • Dean-Perth | 05 Mar 2013, 01:53 PM Agree 0
    Personally I felt I received no benefit from being under MFAA's banner. They just seemed the lenders policeman. But now being a member of FBAA I have found them to be extremely helpful and always very friendly on the phone if I have a query.
  • Melo | 05 Mar 2013, 02:53 PM Agree 0
    Suggest any Broker that hasnt attented MFAA function, come along.Find information and update ,interesting and of huge benefit.MFAA works hard and solely for benefit of every member . Without MFAA , be in same boat as Financial Planners ,being paid lot less,over governed and unrepresented with Lenders,clients and legislation.
  • Brilliant Bokers | 05 Mar 2013, 03:24 PM Agree 0
    Would be great to have a live WEBINAR and give every broker nationally a chance to weigh in!!
  • Brilliant Bokers | 05 Mar 2013, 03:36 PM Agree 0
    MFAA vs FBAA - ready to rumble ... I'll be there .... I believe in value for money..... IFBF, thanks for bringing this discussion to be.... it is so vital for the survival of our industry... we have two associations who are so far removed from the reality of the day it will be good to see just what plans they have of survival. If the POPE can resign due to his inability to meet the demands of his job, someone people should take his lead AMEN
  • Papery | 05 Mar 2013, 05:18 PM Agree 0
    Agree....broadcast it....
  • Broker | 05 Mar 2013, 10:00 PM Agree 0
    I would’ve thought that Brokers gripes & concerns would be blatantly obvious to the MFAA & FBAA , one wonders whether it will be a talk fest , or something useful will actually come of out it.

    Will lenders be in attendance?.....will a meeting occur in each state?

  • OzBoy | 06 Mar 2013, 02:29 PM Agree 0
    This is an example of the MFAA not getting it. Did anyone see the MFAA newsletter and then read the bit about reverse mortgages?

    The MFAA will no longer accept SEQUEL Membership you have to complete their course. Wonder who died and made the MFAA King?

    Anyway, I strayed off topic, then you read this bit: "However, the direction has now been amended slightly to require all MFAA loan writers who deal in reverse mortgages to successfully complete the MFAA Equity Release course (which is currently being upgraded to incorporate the latest NCCP amendments) and which is SEQUAL accredited."

    So their course isn't ready and I just completed one this morning which was.

    Get your house in order MFAA that will assist in stopping the constant stream of criticism from your owners....sorry members!
  • Mark Newnham | 14 Mar 2013, 03:16 PM Agree 0
    Does anyone know if the MFAA/FBAA forum in Sydney on 22/3 is proceeding? Nothing indicated on their respective websites.
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