A broker group has launched a new mentor accreditation program where experienced brokers can mentor loan writers.
Launched last week, Loan Market’s Mentor Accreditation is a step-by-step guide designed to give brokers the proper training and support to be mentors.
The program is housed on Loan Market’s learning and development platform Springboard, where mentors and mentees have access to a fully structured program.
In addition to resources on Springboard, an induction guide, checklists and accountability sessions are also provided through the linked Charge Up program.
Loan Market’s national manager for productivity & performance Kristy Bartlett said the Mentor Accreditation program gives experienced brokers a structured plan and clear obligations for training loan writers.
She added, “With current industry scrutiny, it is now more important than ever to ensure inexperienced brokers are receiving the proper support they need and are working within current and changing legislation.
“By becoming a Loan Market accredited mentor, our brokers can rest assured knowing their business is protected while growing their protege and business.
“We’ve seen that brokers get real satisfaction out of teaching and watching loan writers grow into great brokers. Some would love to be a mentor but don’t know where to start or how to manage the process, this program will guide them every step of the way.”
The program will be optional for the first six months and will thereafter become compulsory for any brokers who are looking to become an accredited mentor.
It encourages mentors to question their value proposition and what they bring to a loan writer.
Bartlett added, “It’s important for our brokers to have Loan Market accreditation to complement other initiatives like our compliance program, which keeps their businesses safe.
“Brokers should assess what they can offer to loan writers; whether it’s just office space or good advice. You don’t want to lose good people just because the training and development were not sufficient. We’ve made that easy for brokers.”
Bartlett also sees an opportunity for senior brokers who are looking to “get off the tools” and employ a few loan writers to work under them to still grow their business.
She said, “Some brokers have great leads that they just don’t have the capacity to satisfy. Having fully trained loan writers in their team is a great solution to this and will positively impact their bottom line in the long run.”
In the first week since being launched, the Loan Market’s Mentor Accreditation program received positive feedback from Loan Market brokers, with many engaging with the launch webinar.