Australian Broker forum is the place for positive industry interaction and welcomes your professional and informed opinion.

'Clawback is punitive': Broker running for Senate position

Notify me of new replies via email
Australian Broker | 22 Aug 2013, 07:00 AM Agree 0
Melbourne broker, Maria Rigoni, is running for a Senate position with the aim of getting a fair deal for brokers and their clients
  • Judy West | 22 Aug 2013, 09:08 AM Agree 0
    Best of luck Maria, a big task you've taken on. I wish you every success.
  • James Green | 22 Aug 2013, 09:11 AM Agree 0
    You have my support. Good luck.
  • Rastafarian | 22 Aug 2013, 09:20 AM Agree 0
    Good luck with this. it won't be an easy task getting elected, it'll be a harder one to actually get real positive reform on this issue.
  • Stuart | 22 Aug 2013, 09:24 AM Agree 0
    You've got my vote right there!
  • SIDBROKER | 22 Aug 2013, 10:07 AM Agree 0
    Look I would not waste to much of your life on this which should be worth while project. No one`s going to listen. The issue we are all having to deal with is Rudd`s legislation that we all know as NCCP. The main thing we need is a new Federal Govt. We should embrase the real issue for all Australians and that is over regulation. We are supposed to be a Free Nation correct.
  • Susan | 22 Aug 2013, 10:51 AM Agree 0
    You have my support. Good luck. Although shouldn't we be hearing these fighting words from the MFAA? Their silence is deafening!
  • Broker | 22 Aug 2013, 11:00 AM Agree 0
    Hard to argue with any of what Maria has stated, as it is 100% factually correct, and the real problem here is that the banks abuse their power by exploiting their blatantly obvious conflict of interest , which is owning Aggregators.

    Yet for every loan I write , I am asked to sign off my Aggregators Client Needs Analysis from, and declare that I have no conflict of interest with the proposed loan , hypocrisy at its best...

    Clawbacks were introduced to stop churning , yet all they do is screw brokers that don’t include a clawback clause within their finance brokers contract, which in my mind is an extremely poor business practice
  • Geoff S | 22 Aug 2013, 11:52 AM Agree 0
    Well stated Maria how refreshing to find someone who tells it as it is . SO TRUE.
    Best of luck
  • Broker | 22 Aug 2013, 01:28 PM Agree 0
    Well said Maria and best of luck,

    It is also about time that the likes of the FBAA and MFAA and our other industry commentators sought comment from the banks on how they justify this extremely unfair rort.

    It isn’t due to the “ cost of funds” , nor is it about a “sustainable broker model” , do bank branches get clawed back , of course they don't.

    What it is really about , is what the banks really think of the broker channel, and very little else.
  • Jake | 22 Aug 2013, 03:42 PM Agree 0
    Another vote from me
  • Jennifer | 05 Sep 2013, 10:24 AM Agree 0
    Awesome news. You have my vote. I have always respected your constant input for brokers rights.
    Go girl
Post a reply