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MFAA Prosper : Mortgage and Finance Brief 12
42 | Mor tgage & Finance brief People Meet your new State Councillors Rob Fitzgerald NSW/ACT National Manager/ Director, SAM Loans I want to give a little back to the industry and support brokers who are new or just need advice or assistance. I aim to bring a balance of fairness in the way brokers are treated; lift the profile of the MFAA in NSW; and with a network of associates across Australia, bring a wider view of brokers to the association. The biggest challenge will be to fully understand the requirements of NCCP. Wayne Marks QLD Owner, LadyBird Home Loans I want to bring a passionate, fresh and proactive perspective to our member group. I am eager to share my professional approach to drive our broker sector forward. I hope to improve the perception of our profession to potential clients and industry newcomers and identify solutions to the systemic issue of recruitment and attracting new blood – this in turn will aid growth. I also want to assist our members to adapt to the inevitable changes to legislative and compliance requirements, providing guidance on how to most effectively implement them while driving added value to the bottom line. The biggest challenge on the horizon is the sustainable growth of the broker sector, particularly in the face of: broker portfolio consolidation; exits due to retirement and career change; and changing compliance requirements. Fiona McGarry SA/NT Business Development Manager, ALI Group Loan & Mortgage Protection I’m passionate about our industry, and my experience as a broker, banker and now insurance BDM enables me to understand our market from multiple perspectives. My goals are to increase consumer education and awareness of the MFAA; work with the MFAA on a strategy for assisting brokers with succession planning and increasing numbers of young brokers; and help improve members’ understanding of what the MFAA does and means to them. With this quiet market, brokers are spending more time looking at ways to diversify through products, developing staff and succession planning. The challenge will be finding the right fit for their business and client base. Vicki Mitchell-Taylor QLD Owner, Aussie Lutwyche and Paddington I want to be involved with the MFAA as they move forward into a new era of finance. I believe that if you want to see changes made, you need to be part of it. I would like to increase broker engagement in all aspects of the MFAA, increase awareness of the MFAA’s purpose and value to brokers, and raise awareness of issues that affect Queensland. The greatest challenge is the wholesale implementation and integration of NCCP. We’ve heard about the changes and new processes needed, but implementation can be challenging for individual brokers and small companies. Each lender interprets the legislation slightly differently and this confuses brokers. The MFAA is integral to ensuring smooth implementation and education of brokers. What do you hope to achieve during your tenure and what are the big challenges facing the industry? Stuart Garvey NSW/ACT Director, Midstate Financial Services I want to take a more active role in the industry – being part of the MFAA will allow me to achieve this. My aim is to develop the profile of the MFAA in regional areas and assist them, because they’re often neglected. Furthermore, in this time of change, we need the MFAA behind us to ensure growth and I’d like to be a part of the progression. The biggest challenge we face at the moment is coming to grips with regulation. It has a direct cost and, with the tighter commissions and lower income levels, businesses will struggle. Newly elected state representatives share their insights on the mortgage broking industry.
Mortgage and Finance Brief 11
Mortgage and Finance Brief 13