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Nothing 'ignorant or apathetic' about equality: Flavell

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Australian Broker | 22 Mar 2012, 07:00 AM Agree 0
NAB Broker's distribution head has taken aim at competitors criticising the bank for shelving its segmentation model
  • Wes | 22 Mar 2012, 09:57 AM Agree 0
    CBA has constantly been on a form and process change binge for a few years now. Stop changing your processes and it might be a bit easier to deal with CBA. Blaming brokers who are 50% of the mortgage distribution market is a dumb move. CBA should get its processing house in order first as it is one of the worst to deal with.
  • New Boy on the Block | 22 Mar 2012, 10:03 AM Agree 0
    CBA seem anti-broker to me and are in danger of losing future brokers with their insistance on the 2 years experience rule. I have been broking for 6 months and by the time 2 years is up I won't need the CBA. I hope I'm not considered rude for saying it but the A obviously stands for arrogance in my limited experience
  • Fat Albert | 22 Mar 2012, 10:26 AM Agree 0
    Perfectly said John, "I want to deliver a great level of service to all brokers consistently, and I don't think there's anything ignorant or apathetic about that,". Congrats again NAB for making it an even playing field and allowing us to deliver an equal service experience to clients that WE have introduced to the bank. It's all about the customer service experience and segmentation means there are many customers receivng poorer service standards because of it...stop blaming the brokers and allow us to look after our clients equally....well done NAB, you guys actually get it!!
  • Country Broker | 22 Mar 2012, 10:29 AM Agree 0
    This is a refreshing attitude and one that shows the NAB are serious about dealing with the broker channel , it also bears out why they have become involved in teh ownership of Advantedge Financial Services and the aggregators they own. CBA please take notes particulary in regards to the conversion rates and responsibility, Homeside will get my support in preference to the CBA when I can and it fits the clients needs. Hopefully more brokers will do the same.
  • ozboy | 22 Mar 2012, 10:29 AM Agree 0
    I think CBA should be commended for admitting the programs put in place to bring about better conversions didn't work. It's not very often you hear the head of 3rd party distribution admitting what they have been doing for 2 years hasn't worked. Mr Flavell has a different (refreshing?) approach and appears to be getting a lot of traction within the broker community. I think if you look at HomeSide pre Mr Flavell and now you can actually see the difference one person at the head of an organisation can make. I hope that the Larry Winget seminar at the MFAA conference is attended by some of the senior management people in the industry as his talk about responsibility, taking ownership etc could provide them with some insights on how changing your mindset can change the business.
  • Long time broker | 22 Mar 2012, 10:29 AM Agree 0
    Well done John, very clear and succinct description of where lenders and brokers need to be. Having been a broker for over 21 years I concur that the best way to progress loan applications is a phone call to resolve issues or to answer questions. This is the way it performed exceptionally well for may years. The most inefficient and time consuming way to process applications is for emails to bounce back and forward, especially when bank staff then abuse their "Serice Level Agreement", a proposition that was supposed to make the bank accountable to process loans in a timely manner, unfortunatley bank staff abuse this and demand we wait the required SLA time frame before they action any correspondence even when they have made the mistake in processing. This was a pitfall the HomeSide introduced and resulted in loss of market share, thankfuly you have realised this was a mistake and are rectiying it which has resulted in more applications being sent to you.
    Keep up the good work.
    CBA, I don't think they make a big enough bandage to stop the haemorrhaging you are experiencing, attitude from above flows down and as such things do not loook good for you.
  • Gary Perth | 22 Mar 2012, 10:41 AM Agree 0
    It really seems that John Flavell has an understanding of the process that is required between Broker and Lender for the most efficient outcome. Changing their documentation process and phone accessability go a long way to promoting a great working relationship. On the other hand CBA's attitude that the CBA is perfect and that brokers can't convert applications to settlement due to lack of experience,professionalism and a piece of paper saying how good I am unfortunately says more about them than it does about the broker industry.
    If the CBA could repair, fix, change or just improve their service levels to brokers they may be shocked at the results. I am sure that most brokers would have a story about lost application, in my case the whole application was received, logged and lost. Wasted time refaxing part applications because they disappear is common. Work with us Ms Cummings, you may be suprised at the results. Well done John and the NAB, keep improving and we will support you.
  • Incognito | 22 Mar 2012, 11:10 AM Agree 0
    CBA imposing volume requirements and charging fees for accreditation is worse than apathetic or ignorant - it's arrogant, especially towards new brokers.

    Homeside continue to play the long game and i hope they're gearing up for more volume.

    New brokers to the industry need nurturing. They will appreciate Homeside's low barriers, competitive products, free upfront valuations and workable commissions.

    And today's new brokers will be around for a long time and have long memories.

    I say back to the drawing board CBA and Westpac, and window dressing won't do (we see through windows).
  • Chris Szigeti | 22 Mar 2012, 11:15 AM Agree 0
    Finally a lender who gets it - Congrats NAB.
  • Donut | 22 Mar 2012, 11:18 AM Agree 0
    Who really cares about the CBA? I feel it only a matter of time, before brokers, in great numbers, stop sending deals to it. I have had it with their, continuously re-asking or documents to submitted, files being taken out of the line, and each time this happens you lose two days. No more from me. I like Suncorp and ING, St. George and I think I'll give NAB a shot.
  • Qld Broker | 22 Mar 2012, 03:34 PM Agree 0
    Just reading a number of the comments and the resounding response to the artice seems to be quite unanimous. Anyone out there taking notes??? I still think CBA are doing a lot of good in the industry, but need to be mindful that they work for us and not vice versa. CBA like to impose themselves like big brother and need to step back a little bit. I also think some people within the organisation need to project a little more positivity rather than step on toes. That does no one any good.
  • melo | 22 Mar 2012, 04:22 PM Agree 0
    Well done JF+ Nab. Showing true leadership .Lets not forget "Live Client and end of every deal" regardless if introduced from Diamond or Rookie broker.Think ,these Bank executives only look at dollars,profits and their bonus at end of year.Good onya Johnny.
  • Paul | 22 Mar 2012, 05:58 PM Agree 0
    First major bank to get rid of clawbacks for anything other than broker refinance will increase their market share by a massive percentage.
  • John Black | 22 Mar 2012, 06:56 PM Agree 0
    Totally and absolutely behind John Flavell's policy of treating all brokers equally. Segmented policy is a total copout and at best is based on poor and arrogant assumptions. In todays business world of authenticity and empowerment the principles expoused by those lenders promoting inequality simply do not stack up.
  • Congrats NAB | 23 Mar 2012, 12:47 PM Agree 0
    Well said John Flavell lets get back to real broker bank relationship, were we both can make a living ,and the outcome is a more satisfied happy experience for the customer. CBA I have droped you from my accreditaion , i just dont need you, untill your willing to work with us and not against us , then i might consider your offering to my clients. Congrats NAB you are emerging from the old stigma you had, to be the most enovative , and a true broker support bank.
  • Damien | 23 Mar 2012, 05:48 PM Agree 0
    Very refreshing indeed , rewarded by an exploding market share, it's not rocket science, hope you are both paying attention CBA and Westpac!!!
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