National mortgage franchise Yellow Brick Road has launched a new learning platform to member brokers on its aggregation network Vow Financial.
The platform was developed around experimental learning – or learning by doing – and offers brokers bite-sized learning via text, podcasts, videos and more, Vow general manager Clive Kirkpatrick
told Australian Broker
At present, learning areas include broker induction, lending policies, regulation and compliance, and sales and marketing. Business management and financial planning will be added at a later date.
Brokers will be taken through a step-by-step process explaining what they need to know, why this is essential to know, how to implement the knowledge or skills learned, showing brokers the right techniques and finally letting brokers show off their newly found skills by posting this on the member board.
“That’s visible to all participants. Whether it’s our trainers, compliance people or other mentors in the business, they can provide comment on those submissions.”
This allows brokers with more experience to support those with less, he said.
“What we’ve found for classroom learning is that people only retain about 10% of what they’re taught. [Our platform] is more around learning by doing which means you retain a lot more.”
The platform can also keep track of what member brokers are doing, how far they’ve progressed and any areas in which they need assistance, Kirkpatrick said.
Another key feature of the platform is Vow Chat, he added, a moderated chat room where brokers can ask questions and get feedback from brokers and bank BDMs.
“[The system] is smart enough to find frequently asked questions and then place them in a separate library. So if you’re looking for construction loans, you can go into all the past threads to help you answer your own questions quickly and get the best responses.”
The platform is very “malleable” and will be constantly adapted using feedback gained through discussions completed directly via the forums, he said.
It has been created in partnership with Open Colleges and was launched at Vow’s national conference on Friday (20 October). Now available only to Vow brokers, the portal will be rolled out to Yellow Brick Road franchisees in November.
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