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'Tsunami' of Diplomas comes through as brokers succeed in up-skilling

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Australian Broker | 27 Feb 2013, 07:30 AM Agree 0
The MFAA is sorting through a "tsunami" of broker qualifications following last month's Diploma deadline, with the vast majority of the association's members satisfying the educational requirements
  • Broker | 27 Feb 2013, 10:09 AM Agree 0
    Piy the majority no doubt learnt very little or nothing
  • Billy Bob Blogg | 27 Feb 2013, 10:34 AM Agree 0
    obtained my Diploma early last Year. then promptly left the MFAA. i paid for it myself. MFAA must have a problem with deadline dates...
  • Brokers Broker | 27 Feb 2013, 10:41 AM Agree 0
    Fbaa is the place to be! No forcefull tactics and pretentious attitude that does not line up with ASIC
  • Smart One | 27 Feb 2013, 10:44 AM Agree 0
    I left and believed that after 35 yrs Banking and Broking I didn't need a Diploma or to be forced to have one, by an association that provides little or no benefit to me or my business. I would suggest 99% of people and clients wouldn't even know what it meant to have MFAA displayed or a member !!!!
  • John from Geelong | 27 Feb 2013, 11:34 AM Agree 0
    It is not about the brokers who can be bothered, it is about getting rid of the brokers who can't be bothered. It is a simplistic and expensive (for those who remain) way to weed the shonks out of the industry. Neither industry body offer any value for money but they have bluffed the lenders and I get the bill.
  • Dean-Perth | 27 Feb 2013, 11:40 AM Agree 0
    What a total waste of time and money for experienced brokers. I learnt nothing, not a single thing. All this to satisfy some ridiculous fantasy of MFAA. It just reflects their remoteness from ground level brokers. I quit the MFAA as a direct result of this debacle and happily joined FBAA with absolutely no regrets as FBAA is much more supportive than MFAA.
  • Surprised | 27 Feb 2013, 12:08 PM Agree 0
    Im suprised they have not announced another extension and more money to those that have not completed by this extended deadline as they did for those who missed the original deadline
  • Broker | 27 Feb 2013, 12:48 PM Agree 0
    Learnt bugar all, paid a good for the course and MFFAA get's part of it ? wasted 3 days !
  • George Broker | 27 Feb 2013, 02:32 PM Agree 0
    I agree with brokers broker comment. FBAA is the place to be. I did the Diploma however because the institution that I did my Diploma through wasnt on their panel, I had to do extra case studies at extra cost. Wasnt happy so I switched to FBAA.
  • Adam | 27 Feb 2013, 04:10 PM Agree 0
    Will quite happily be joining the FBAA now. Being forced to do further training that's not required by aggregators or ASIC is a waste of my time and money. I've never had a client ask what my qualifications are and can't see them now asking "have you upgraded to the new diploma?".
  • Thinking Smart | 27 Feb 2013, 04:28 PM Agree 0
    if you go to the fbaa website , took me less than 5minutes to fill in the on-line application form and i already had all the documents that they asked for. The staff were supportive and i have found them to be so honest and supportive of me and my business
  • SteveL | 27 Feb 2013, 06:35 PM Agree 0
    RE: John from Geelong. It won't weed out the shonks. The shonks will look like and dress like and behave like good operators. Shonks always find a way to keep operating and will go the extra mile. All this does is puff up the chest of the MFAA. I prefer the FBAA because the promise a Melways and deliver a Melways. MFAA promise the world and deliver an atlas.....
  • Clinton Waters - More Rosh & Waters | 27 Feb 2013, 07:05 PM Agree 0
    Im an experienced broker (10+ years) - initially I thought what's the point but realised its worth it in the long run for the professionalism of our industry.

    Unlike the rest of you anonymous dimwits above I can recognise positive reasoning behind why this was pushed. I don't think you would like an accountant with a Cert II in Business Studies advising you on your business - why should it be any different when giving confidence to customers seeking advice on such a huge financial decision.

    Wake up guys... it's in your interest.
  • jogo broker | 28 Feb 2013, 09:20 AM Agree 0
    We too completed the Diploma (learned very litle, if anything) & then changed to FBAA.
  • Jb | 28 Feb 2013, 10:43 AM Agree 0
    Forcing Brokers to get a Diploma regardless of time in the industry or prior experience was a big mistake by the MFAA. Brokers have enough compliance, memberships & insurance to worry about without being forced into the time and expense of a Diploma that nobody requires or cares about. I left MFAA & joined FBAA & it was painless.
  • Positive Broker | 28 Feb 2013, 01:11 PM Agree 0
    On the flip side, I tried to join FBAA but their office was closed and they never called me back. In the end I decided I try to run a professional business and if FBAA didn't call me back, did I really want to be aligned with them? So I did the diploma and am now comfortable with my decision.
  • Qualified | 28 Feb 2013, 02:02 PM Agree 0
    Pity so many brokers have a problem with being educated and gaining more formal knowledge about the industry that they work in. I think having more qualifications, whether or not your clients ask to see them, can never be a bad thing.
    Australia has one of the highest education standards in the world, and I think it's great that all industries are striving to keep that the case.
  • My comment | 28 Feb 2013, 10:34 PM Agree 0
    MFAA was too hard to become a membar as I had a couple of little hiccups in the past.
    The FBAA asked no dumb questions and I didn't have to have the stopid diploma. They were just happy to have me on there books. EASY AS an I recomend them!
  • Jim | 02 Mar 2013, 12:34 PM Agree 0
    I reckon. It was heaps easier to get into the FBAA and they aren't stuck up like the other mob.
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