Industry association partners with non-bank

by Miklos Bolza03 Aug 2017
The Mortgage & Finance Association of Australia (MFAA) has teamed up with non-bank lender Pepper Money to deliver a series of workshops to new-to-industry brokers.

These sessions will be free for MFAA member brokers and will provide realistic insights, planning tools, and profit and loss skills so participants can create an action plan for their individual business success.

The program has been running for 12 months prior to the newly announced partnership and is being delivered in the five major capital cities.

“The workshops offer real value for brokers who need practical advice on business growth and performance measurement. Many of the participants are enthusiastic but these sessions also give brokers a realistic set of expectations which can often help them to establish the difference between a long-term business or failure,” said MFAA CEO Mike Felton.

“Additionally, the sessions develop a peer network that can offer support, along with feedback from the MFAA BDM on connections that can help deliver positive consumer outcomes.”

Pepper has stepped forward to support new-to-industry brokers as a way to create a more sustainable future in the broker channel. Through its support, the lender will also provide brokers with a better suite of solutions for clients.

“The truth is, every customer that comes through the door has a different set of circumstances – and right now, 40% of them are underserviced. It’s important for new brokers to know all the available options so that they can be a point of difference in the industry,” said Pepper Money’s director of sales and distribution, Aaron Milburn.

“A lot of these non-conforming deals seem difficult, but with the right tools and support, brokers can achieve a successful business. We hope that we can provide that support together with the MFAA.”

Those attending these sessions will be provided with comprehensive workbooks – reference materials which will guide them through the business management process.

“Seventy-two per cent of MFAA brokers who are new to the industry are still in the industry a year later, and this workshop program has certainly contributed to that success rate. The longevity of the broker channel relies on educated, savvy brokers joining and staying in the industry, and we are excited to partner with Pepper Money in making that happen,” Felton said.

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