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Practising certificate unnecessary impost

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Australian Broker | 20 Mar 2012, 05:00 AM Agree 0
A mooted broker ‘Certified Practising Certificate’ is an unnecessary impost in the eyes of a major broking franchise
  • Country Broker | 20 Mar 2012, 09:49 AM Agree 0
    I have a cert IV, 2 diplomas and I am a director of a company that has a FULL Credit Licence, if that is good enough for ASIC why do Phil Naylor and Kathy Cummings think I also need a "Certified Practising Certificate" this is elitist nonsense , lets stop this in its tracks NOW.
  • Chris C | 20 Mar 2012, 09:53 AM Agree 0
    Don't we already have enough cost and compliance Phil. This is on your part a revenue raising exercise for MFAA to charge a fee for this or increase our annual membership fees and only in an effort to better substantiate MFAA's existence.
  • PeterT | 20 Mar 2012, 11:49 AM Agree 0
    Submission quality should be a high priority for any broker as it reduces the amount of work we do. Obviously broker and bank interests are aligned on this issue.

    If the CBA thinks that broker submission quality is so low, why don't I ever hear about them running workshops to address this?

    The only conclusion that I can come to is that they are running workshops, but I haven't been invited because there's nothing wrong with my submission quality.

    Obviously other brokers are attending, and if they haven't cleaned up their quality, they're loosing their accreditation. If they're not attending then they'll also loose their accreditation. As an overall consiquence, the quality of the remaining broker submissions must be improving.

    The alternative is simply that the CBA sees an issue but isn't doing anything constructive to address the problem. I don't have a lot of sympathy for anyone who simply whinges about a problem but constantly deffers doing something constructive about it.
  • PC | 20 Mar 2012, 12:08 PM Agree 0
    CBA seems to be the only one who keep complaining about quality of submission. I myself have never used CBA so can't comment on much except to say that maybe they ought to look at their own application forms and requirements, perhaps they ask for too much, I don't know.But I do know that another framed piece of paper on the wall will not fix the quality of a submission.
  • Tim | 20 Mar 2012, 07:11 PM Agree 0
    I have spent the afternoon with the forward thinking progressive NAB Broker / Homeside group at their annual roundtable. If CBA don't think brokers are adequately qualified then maybe the NAB's goal to acheive 25% market share will be easily acheived as no one will be supporting a lender ie: CBA that truly is not supporting brokers. John Flavell must be loving it and gets' my support everyday. Oh forgot to mention the MFAA. Deliberate that as he and the MFAA become less significant in our industry !!
  • RL | 22 Mar 2012, 11:56 AM Agree 0
    This reeks of the 'pot calling the kettle black'. Instead of complaining about submission quality over & over again, perhaps CBA should look 'in-house' at their assessment & processing staff. Countless delays, time & money are wasted when good brokers submit quality deals and assessors don't read / identify the supporting documents provided to them. You don't hear broker groups demanding additional commissions to compensate their good brokers for 'poor quality assessments' where additional time & resources are spent dealing with the bank's bureaucracy & mishandling of deals. Instead we continue to get bashed over submission quality time & time again. Wake up CBA - you're far from perfect & if you spent a little more time looking closer to home (not to mention stamping out channel conflict) perhaps we might send more business your way. Three cheers for our second tier lenders - competition is alive & well in that space. I'm looking forward to seeing a decline in the major's market share now that the likes of CBA have divorced themselves from the RBA.
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