The first round of the first ever mortgage industry ping pong competition has taken place.
Held at Wealthify’s offices in Sydney, it saw eight competitors whittled down to just two. The finalists are sent straight through to the grand final, where they will be joined by winners from the next three rounds, which will be held over the coming weeks.
Wealthify arranged the tournament after the company noticed increasing pressure on the industry.
Held on 8 May, the first round matches were between Finsure vs Connective , Premier Lending vs Capileo, IMB vs Home Loan Experts and none other than Australian Broker’s sister magazine, Mortgage Professional Australia vs The Adviser.
Big names are lined up to play the next few rounds, including a representative from the Finance Brokers Association of Australia (FBAA). Organisers are hoping they will be able to play against somebody from Mortgage and Finance Association of Australia (MFAA), but they have not yet put forward a candidate.
Wealthify CEO Darren Moffat said he just wanted people to have fun. He added, “Really the main reason was in response to the doom and gloom environment at the moment. With all the regulation a lot of brokers feel like they’re getting bashed up, so we wanted to do something to lighten the mood.
“We thought, we’ve got a ping pong table here, everyone loves ping pong, so let’s put on a mortgage industry ping pong competition!
“Today we’ve seen James Brett from Connective, David Vizza from Finsure, we’ve got quite a lot of individual brokers that will be playing, but there’s some aggregator BDMs, lender BDMs and media of course.
“It was really great fun, great to see people have so much fun and that was the key thing. It was a good cross-section of skill level and a diverse group. The main thing is it’s just a bit of fun. Someone does have to win, there’s a prize, but it’s nice to celebrate the people in the industry. It’s good networking as well, that was the other objective behind it.”
Brokers urged to join first ever industry ping pong tournament
Broker community facing a lead "epidemic"
Real estate portals to “smash” broker market