Rogue brokers hogging media limelight

by Miklos Bolza21 Jul 2017
One leading industry advocate has blasted recent stories about predatory brokers as a handful of “cowboys” ruining the image of the industry and averting publicity from more positive broker actions.

“Consumers are still showing a high level of confidence when choosing our channel for their finance needs,” founder of National Finance Brokers Day (NFBD) Dino Pacella told Australian Broker. “In saying that, it’s extremely disappointing that a few rogue brokers are making headlines for the wrong reasons, and may impact a consumer’s decision to use the broker channel.”

He called upon brokers to educate the media about the benefits of finance brokers to the community.

“The overwhelming majority of brokers do fantastic work and they need to share their good news stories. Experiment with social media to education consumers about their service offering and use content marketing to reach a broader audience.”

In a complex lending space, brokers should be doing everything they can to spread words of their knowledge, expertise and the advantages that consumers can receive, he said.

“There are some great, positive stories from countless customers who use the broker channel and the more we can promote these, the better.”

At the same time, Pacella also acknowledged that there was no place in the industry for rogue brokers. Fortunately, industry was working together to weed out these individuals, he said.

“We have seen some fantastic collaboration between industry bodies, aggregators and a number of lenders to work in the best interest of the broker channel.”

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