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MFAA launches ad campaign to rebrand, credit advisers

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Australian Broker | 18 Sep 2013, 08:00 AM Agree 0
The MFAA has officially renamed its members 'credit advisers' and has launched a massive campaign to spread the word
  • ozboy | 18 Sep 2013, 08:11 AM Agree 0
    Good luck.
  • Kym Dalton | 18 Sep 2013, 09:54 AM Agree 0
    Brilliant. "Brokers" haven't been brokers for a long time now- i.e. you wouldn't be much of a stock broker if you only covered 5 or 6 stocks! Credit Adviser is a much more appropriate term to express how our industry's services have evolved. Well played. Next step is to rid the industry lexicon of the word "sell" in regards to mortgages.
  • not so old broker | 18 Sep 2013, 10:17 AM Agree 0
    Wow - you mean QANTAS et al 'donated' the $5k. OR did this come out of the budget for the advertising campaign?
  • overtheborderbroker | 18 Sep 2013, 11:05 AM Agree 0
    Great that our new tag will infer that we give "advice". That won't confuse anyone will it. And it won't lead to any long discussions with potential clients about our demarcation lines regarding what constitutes advice and what does not. I've said before I've been in this business for well over a decade, personally written over 1,000 loans and not once has anyone ever asked me about MFAA.
  • Papery | 18 Sep 2013, 12:04 PM Agree 0
    Hey MFAA its a good start, but not main stream enough..
  • mac | 18 Sep 2013, 12:19 PM Agree 0
    well done
  • Broker | 18 Sep 2013, 12:32 PM Agree 0
    I've been a Finance Broker for nearly 11 years, not once has a client asked me if I am a member of the FBAA or MFAA and it is not very hard to see why, as it is just not normal for a client to ask which totally irrelevant (to them at least) organisation that we may be a member of. Why would they?

    I don’t ask my Doctor, Vet, Lawyer, Accountant, Hairdresser, Mechanic or Massage Therapist who they “belong to” as I simply don’t care, as like most people I will make my decision to use their services based on what I think, or what I already know.

    Logic tells my clients that if I am accredited with 30 plus lenders, then I must meet the required industry standards to do what I do...way too easy for this industry to understand I guess.

    I am glad I am not a MFAA member as this “Major Spring Campaign” (what?) will prove to be a total waste of its member’s funds.

    How exactly will the MFAA measure the success of this “Major Spring Campaign”, that is a question that needs to be answered by the MFAA, assuming that they have considered that their members may wish to know this outcome!!
  • Steve McClure | 18 Sep 2013, 04:55 PM Agree 0
    I'm not knocking the MFAA for promoting this theme and I can see that some feel there is a poor perception of the word broker. On the contrary, I feel that at least the word broker unites us all whether we are with the MFAA or FBAA, or neither (we can be). My strong reservation is that being called an "MFAA approved credit adviser" firstly implies some sort of ownership by the MFAA and secondly divides, dilutes and confuses the message of who we are. I believe we need to preserve our message, not redefine it and certainly not appear to lose even more independence by being "branded" MFAA. I'm proud that I have full MFAA membership, but they don't own me and they are here because of us brokers, not visa versa.

    Don't underestimate the impact or misconstrue the meaning of the word broker - it simply defines us acting diligently for a party to negotiate and facilitate. Advice is part of that, don't be afraid of it, but don't start reinventing our role by suddenly being in charge of indefinables like "making dreams happen". My PI doesn't cover that.
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