'New blood' for industry as brokerage ups ante

by Caroline Dann27 Jul 2012

Loan Market has upped the ante in its search for new brokers, launching a dedicated space for its broker academy in Brisbane.

Speaking to Australian Broker Online at the launch last night, Queensland state manager Andrew White said the move symbolised Loan Market’s aggressive push to find “new blood.”

“Previously, there were limited pathways to bring new blood into the industry. Our duty at the Academy is to attract all walks of life and help turn them into excellent brokers. The industry needs it now more than ever,” he said.

After a two-week intensive training summary, attendees undertake a two-year mentoring program, which is currently the only MFAA-accredited mentor program in Australia.

General marketing manager Edward Thian also weighed in on the direct-to-bank controversy, saying the academy's push for brokers aligned with Loan Market's strategy of building consumer confidence.

"We urge everyone to avoid the direct-to-bank approach. Our brokers will come out of the academy with excellent skills in negotiating the best deal," he said.

The course, which has been running out of rented rooms, will now have a home in the upmarket Brisbane suburb of Newstead.

“It’s a strategic place, as we launched the course here and Loan Market itself is from Brisbane. Demand has increased, so we needed to expand the space,” he said.

Training manager Lindy Spillman said increased demand meant she could be more selective on who took the course.

“I want attendees to be doing it for the right reasons. Customer service must come first, followed by a passion for the industry. We’re not looking for people who just want to make money,” she said.

Both Spillman and White said the course would steer clear of “slick sales pitches.”

“Brokers are tired of them, and you can bet the customers are too,” said White.

Loan Market plans to build dedicated academies in Melbourne and Sydney within the year.

Related stories:

Loan Market welcomes Academy trainees


  • by Aussie Rip Off 27/07/2012 10:03:58 AM

    Given that Ed Thian is from Aussie and and a lot of other are Aussie it just looks like they are replicating the Aussie and Mortgage Choice models to me. Nothing new here

  • by Anon 27/07/2012 10:15:59 AM

    Aussie has run a broker Academy for several years now and has the most comprehensive training and development program in the industry as well as ongoing mentoring. Loan Market's idea is not original or a first.

  • by Big picture 27/07/2012 10:28:03 AM

    This world is filled with organisations using each others ideas...why reinvent the wheel, if you see somthing working why not replicate it, i see absolutely nothing wrong with it. Look at the iPad and all the spin offs from that..