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MFAA Prosper : Mortgage and Finance Brief 08
6 | Mortgage & Finance brief CEO's message Broker channel has strong future This year has already brought with it some great challenges. The tragic floods in Queensland, Victoria and parts of NSW; Cyclone Yasi, bushfires in Western Australia and the massive and mind-blowing earthquakes in Christchurch and Japan have affected us all. Our thoughts and hearts are with all those who lost their lives, friends or family, property or business as a result of these devastating events. But I think some important lessons have come from these tragedies that provide some positive signposts as to the behaviour and attitudes of the community at large. I refer not only to the clear willingness of people to help others, but also the willingness of people to trust the assistance of total strangers. For those that believe in earth cycles, there is a prophecy from the Mayan culture of South America, that the year 2012 is the coincidence of a 5,000 year cycle and a 20,000 year cycle in the earth's history and, as such, land- shaking events will occur around that time. There was a movie, 2012, that sensationalised this as the end of the world, but what the prophecy says is that there will be significant changes in the world not only physically but also in our governing systems and how we deal with each other. Perhaps all the events we are seeing around the world are part of the 2012 change? Whether you want to believe that or not, I think it is indisputable that humans are demonstratinga great need and willingness to be involved with and help andtrust each other. This is in contrast with the experience of the past few decades in which people have become numbers and have tended to treat each other as such. It is also apparently contradictory with the massive trend to internet and social media, where people can hide behind their computer, or iPhone, to communicate indirectly and, in many cases, anonymously. Perhaps it's a revolt against that indirectness and anonymity? But it's clear that people want to deal with people. More importantly they want to trust people and build relationships with people which can demonstrate their trust. Successful brokers are already aware of this (whether or not they are aware of the Mayan prophecy). The key to the success of the broker channel (or "credit advisers" in our new terminology) is being able to develop a relationship with clients as a trusted credit adviser. Bob Geldof waxed lyrical about this at the last MFAA convention. Notwithstanding all the other business and regulatory threats that are thrown up against the broker channel, in my view, as long as you remember people need other people more so than ever before, and they want to trust someone to assist them and advise them, the broker channel has a strong future. Phil Naylor Chief Executive Officer of MFAA MORTGAGE & FINANCE BRIEF is the official magazine for members of the Mortgage & Finance Association of Australia. Chief Executive Officer: Phil Naylor Executive Director Marketing & Membership: Kriti Colless Marketing & Communications Manager : Marisa Ashworth Post: PO Box 604 Neutral Bay NSW 2089 T: (02) 8905 1300 F: (02) 9967 2896 E: email@example.com W: www.mfaa.com.au Published by: MAHLAB MEDIA Managing Director : Bobbi Mahlab Editor : Martin Wanless Advertising Sales Manager: Craig Ennis Art Director: Simon Wan G9/1-15 Barr Street Balmain NSW 2041 T: (02) 9818 8896 F: (02) 9818 6080 E: firstname.lastname@example.org W: www.mahlabmedia.com.au Printed by: Webstar Mailed by: Bluestar DM Cover photography: Shannon Morris All material copyright MFAA. All rights reserved. MFAA does not expect or invite any person to act or rely on any statement, opinion or advice contained in this publication and readers must rely on their own enquiries in making any decisions or giving any advice. Neither MFAA nor any employee or agent of MFAA nor any contributor to this publication will be liable for any loss or damage caused by any inaccurate statement, opinion, advice or information contained in this publication. CAB Member
Mortgage and Finance Brief 07
Mortgage and Finance Brief 09