by clicking the arrows at the side of the page, or by using the toolbar.
by clicking anywhere on the page.
by dragging the page around when zoomed in.
by clicking anywhere on the page when zoomed in.
web sites or send emails by clicking on hyperlinks.
Email this page to a friend
Search this issue
Index - jump to page or section
Archive - view past issues
MFAA Prosper : Mortgage and Finance Brief 13
26 Mortgage & Finance brief very strong positions on things that affect the sector. It really does take a leadership position. It’s very easy just to let things happen and let the industry evolve and not do anything to shape it. of course, there is a danger in taking a strong position, as some people won’t like that position, but I respect that. You’re better of f taking a leadership position, rather than letting things unravel without your guidance. MW: What do you bring to the board? CD: I can challenge the reasoning around the internal thinking, and also bring some experience from the fPA. It’s beneficial to have someone who’s not directly involved in the industry as I don’t have any one position; I’m not viewing things from a broker’s perspective, or a lender’s, or the MfAA management’s, or an individual member’s. Everyone on the board is committed to making decisions for the industry as a whole, but it’s very easy to slip back into your day-to-day role and lose the broader perspective. I’m able to view things completely impartially. It’s a big decision to move to an independent director, because you open yourself up, so I commend the MfAA for doing that. MW: Have you ruffled any feathers yet? CD: I don’t think so! It’s important for me to take into account that some people have been there for a lot longer than I have, and know a lot more than I will ever know about the mortgage side of things, but I’ll still express a view. MW: How do you view the MFAA’s position in the industry? CD: You cannot effect meaningful change in any sector without a strong association, and the strong support of the organisations where people work. We need the support of the franchisers, aggregators and the other groups, and they need to be aligned back to the MfAA. These groups offer their own conventions and training so, to me, it’s not about doing something different to what they do, but partnering with them so the MfAA message filters down. There’ll always be crossover, there’ll always be training and conferences, but it’s a matter of finding the right balance. We need to use our resources to deliver unique programs that support what’s happening across the industry, but we don’t necessarily want to be replicating what each other does. ••• i don’t have any one position. i’m not viewing things from a broker’s perspective, or a lender’s, or the mFaa management’s or an individual member’s. i’m able to view things completely impartially. Corinna dieters on... x FiRsT iMpRessions i’ve been very comforted by the passion of the organisation and the ability to be committed to one clear message. x MeMbeR engAgeMenT The engagement of the members in terms of the voting in elections is quite low, but that’s typical of associations – full stop. Member engagement is critical, but you can get quite hung up on it. You often hear, “We need to have bigger numbers, we need our members to be more engaged,” but in reality, if you’re doing a good job, they’ll let you do it. if members aren’t happy they’ll be out in droves. x Fee FoR seRvice There’s a transition stage for all of these issues around remuneration. There’s a principled view that if you’re working on a fee-for-service basis then you’re working for the best interest of the client, but it also has to be coupled with practicality. Until the consumer is prepared to pay for that advice, you could go broke charging fee for service. There is certainly dialogue to have with consumers about remuneration and that’s why the disclosure documents are very good. x coMpeTiTion As an association, it’s good to have competition. some people feel there should be one body representing everyone, but that’s not a good position to be in, because then everyone will have to be members of that one association and there is no opportunity for differentiation. x The nexT geneRATion Where do we get new mortgage brokers and credit advisers from? getting the education into universities and other educational modes is vital. There’s no clear attractor at the moment. it is a viable career, but it’s not well known. if we make it an attractive option we’ll get a new generation of people who’ll help mould the future even further.
Mortgage and Finance Brief 12
Mortgage and Finance Brief 14