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Free mentoring programs devalue the mentor and mentee

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Australian Broker | 18 Jan 2016, 08:24 AM Agree 0
Free mentoring programs devalue the mentor and don't guarantee the full scope of training for a mentee, an ex-broker and the founder of a leading mentoring program has argued
  • Stephen Dinte | 18 Jan 2016, 05:38 PM Agree 0
    Whilst I have the greatest respect for Tanya Sale, in this instance I have to disagree that fee for service mentoring does not deliver viable outcomes.
    The reasons behind the need for mentoring are great, however there is no specified learning system that mentors are required to follow. There are no delineated outcomes aside from "competency", which is a very subjective at best.
    Hence new to industry people are at a loss to know which mentor is going to be the best for them. This causes them to choose a mentor based on the only common denominator which is cost. Certainly not the best way of buying anything.
    I have recently commenced a mentoring business with another very experienced broker, with the aim of assisting new people without resorting to the huge price tag.
    Regrettably, the first question asked by virtually all enquirers is "how much do you charge"?
    They don't care about the 25 years of training I received working for Banks & Building Societies, the many courses I undertook during those years to further myself, or the fact that I was the training manager for a large building society.
    They don't enquire as to how long I have been broking, what qualifications I have, or how large is my trail book.
    They only focus on the cost of my mentorship.
    I believe too many people attempt to enter this business severely under capitalised.
    How does a person start any business without the financial resources to carry them for the initial term?
    Mortgage/Finance broking is no different.
    Offering a mentorship at no cost would be like giving 100% LVR loans. There is no "hurt money" involved.
    No education is free.
    Moving forward I would like to see our associations work together to produce a training program that mentors could follow, in the same way our various State education departments produce a curriculum for schools and universities to follow.
    Let's get agreement as to what knowledge a mentee needs to gain during those first two years, the order in which it should be learned, and have all mentors teach so as to produce these identified outcomes.
    Then the associations could have mentees sit a "final" exam at the end of the 2 years as a way of evidencing what they have learned, in the same way as happens at the end of Year 12 High School, our as a precursor to graduating from university.
    The current ad-hoc system is what likely disenfranchises many people including Tanya.

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