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FBAA accuses Aussie of Diploma 'mockery'

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Australian Broker | 28 Feb 2012, 06:00 AM Agree 0
Aussie has been accused of belittling industry experience with its new inductee Diploma program
  • ozboy | 28 Feb 2012, 09:19 AM Agree 0
    Wonder how the MFAA feels about this as it would indicate that they could all be members as they would hold a dimploma (if Aussie is seen as a RTO). Good to see Mr White and the FBAA getting more a profile which shows the differences between the 2 major associations representing our industry.
  • JERRY gIBB | 28 Feb 2012, 11:21 AM Agree 0
    Your got to be kidding if the MFAA accept this sort of rubbish then why did i waste my time in getting my Diploma!!!! It took me more than that in effort and time and finally cost.
  • Brad Q | 28 Feb 2012, 11:23 AM Agree 0
    Aussie didnt mention that ALL their loan writers are required to also be MFAA members, which therefore says they must ALL have a diploma...which is the real reason they enforce it, not for being the highest trained professionals...
  • PeterT | 28 Feb 2012, 11:57 AM Agree 0
    The diploma is a joke. Looking at the various case studies for both the recognition of prior learning, and the full deploma, it's clear to me that the MFAA has no idea how to:
    1. Write a loan.
    2. Structure things in the clients best interests.
    Even my mentoree of 18 months was looking at the case study asking why would anyone do it the way the MFAA suggests is approporiate?
    They seem more interested in getting all the paperwork right, than actually doing the right thing by the client.
  • JayNSW | 28 Feb 2012, 11:58 AM Agree 0
    Yet another reason to be a member of the FBAA who stick with ASIC guidelines for qualification requirements. Again MFAA supports the big boys (Aussie) and not their brokers. How can they accept Aussie brokers with such little training but make the rest of their brokers spend so much money and spend so much time getting diplomas.
  • Wilko | 28 Feb 2012, 12:59 PM Agree 0
    This is just the claptrap that the FBA loves to put out to cause debate on industry membership. So is Peter saying that every Diploma offered by an RTO is rubbish? Profeesional standards should start with a Diploma and organisations that are proactive are just showing consumers that they are prepared to invest in ensuring their sales force can met their needs in an ever chaning market. The FBAA are out of touch and becoming increasingly irrelevant by insisting their members "stand still". Woeful....
  • Damien | 28 Feb 2012, 01:01 PM Agree 0
    Brokers have a real opportunity here, what happens if they all leave the MFAA and join the FBAA, no fees = MFAA out of existence, unless of course their bank makes prop them up!
  • JayNSW | 28 Feb 2012, 01:22 PM Agree 0
    Wilko actually the FBAA have been very vocal in encouraging their brokers to obtain further qualifications but they will not force brokers to do more than the requirements stated by ASIC. The issue from what I have read over the last few days is that you now will have brokers start working for Aussie who have just started in the industry holding a diploma within 3 weeks and have no real industry experience. There is a big difference between a broker who has had years of experience and has done a diploma and a 19 year old who has nothing but a quick 3 week course up there sleeve to get the bit of paper.
  • Graham | 28 Feb 2012, 01:43 PM Agree 0
    Of course, a former hairdresser who does a 3 week 'Diploma' is now delivering 'the most professional broking service available'. What a joke!
  • Damien | 28 Feb 2012, 02:19 PM Agree 0
    So the MFAA is endorsing this crap, if so they should be absolutely ashamed of themselves
  • Nic | 28 Feb 2012, 03:25 PM Agree 0
    There is no significant difference when it comes to performance or retention under intensive training formats when compared to other traditional methods. There is no reason why a new broker with little experience cannot be considered professional and highly trained. I don't think the diploma and support program can replace years of experience in this industry however it is better than having next to no experience as well as minimal formal qualifications. There is nothing wrong with Aussie wanting to lift the bar with its new brokers.
  • Tom | 28 Feb 2012, 04:10 PM Agree 0
    Aussie is known as having some of the best training in the business and (having previously worked with them as they trained half the industry..) I have no doubt that they will continue to produce some of the very best.
  • PaulH | 28 Feb 2012, 04:19 PM Agree 0
    Good way to have Ozzy support the FBAA Peter. NOT!
    Thought your job was to add value and encourage all to be FBAA members rather than criticise and completely burn the bridge- especially with a major player like these guys!
  • Wilko | 28 Feb 2012, 06:54 PM Agree 0
    Jaynsw, the way I see it is that Aussie are demanding a standard for their brand and the consumer and peters comment is rubbish as no one is suggesting that the competence is there after 3 weeks. They are just getting everyone off to the best start possible and that can only be deemed a professional approach. The FBAA is becoming irrelevant. At least the MFAA are willing to challenge the status quo and risk popularity ( not that I always agree with them).
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