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MFAA Prosper : Mortgage and Finance Brief 14
8 Mortgage & Finance brief Throughout 2011 and 2012, the MFAA has been focused on deliver ing two key action items in the MFAA strategy. These are: 1. The development of an enhanced professiona l framework – including an education pathway incorporating transition approaches to a diploma as the m inimum education requirement; and, 2. Delivering on the need and demand for increased consumer awareness. These two areas are very much related. The task of creating greater consumer awareness is materially improved once an enhanced professional framework has been established. Members will be only too aware of the MFAA requirements regarding education to satisfy the new accreditation regime, viz: a Diploma in Financial Services (Finance and Mortgage Broking Management) AND an MFAA assessment of practical knowledge via case studies; to be completed by 1 July 2012. I’m pleased to say that members are really getting behind the rationale of the increased educational requirements and, after a somewhat slow start, our membership team is being inundated by evidence of diploma (or equivalent) attainments. On current indications, it is expected that about 75% of members will have satisfied the requirements by the end of April, with the remainder hopefully not too far behind. Occasional ly, at PD days and the like, I’m asked about the stat us of other qualifications, such as degrees. Many registered training organisations (RTOs) offer recognition of prior learning (RPL) and/or a credit transfer service, assessing your current qualification against the diploma. The MFAA itself cannot make this call, as the Australian Quality Training Framework (AQTF) governs this process. The MFAA recommends members contact an RTO to explore this option as a pathway to obtaining the diploma. Some deg ree-qualified members have already used this option to obtain the diploma. As far as consumer awareness goes, the MFAA ran online campaigns in November and again in January/February. The objective was to drive consumers to the MFAA Essentials of Borrowing website (www.essentialsofborrowing.com.au) and then to click on the ‘Find an MFAA Approved Broker’ facility. This campaign saw a 450% increase in traf fic to the website and a 260% increase in consumers clicking on ‘find a broker’; such that between 100-200 searches were made per day. Based on the success of this campaign, a new MFAA Facebook campaign to drive consumer awareness of MFAA Approved Brokers was launched on 7 March 2012. We know that first-home buyers find it tough to save for a deposit – so we’re asking consumers to tell us what luxuries they are going without for their chance to win a $1500 ‘fun fund’. The campaign is being delivered to a ta rgeted demographic via Facebook advertising, which mea ns it can then be shared and viewed by a wider audience. As with the initial online campaign, consumers will also be given information about MFAA Approved Brokers, and will be encouraged to seek out a broker in their area through The Essentials of Borrowing site. Preliminary results show this campaign is being enthusiastically received by consumers, increasing brand awareness of MFAA Approved Brokers and driving consumers to ‘find a broker’. Phil Naylor, Chief Executive Officer, MFA A chief executive officer 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 Managers: Marisa Ashworth, Emma Scamell Post: Po Box 604 Neutral Bay NSW 2089 T: (02) 8905 1300 F: (02) 9967 2896 E: firstname.lastname@example.org W: www.mfaa.com.au Published by: Mahlab Media Managing Director: Bobbi Mahlab Editor: Martin Wanless Deputy Editor: Michael Mills Art Director: Kate Oliver Sales Director: Nicole Dixon Advertising Sales Manager: Sarah Lander 369a Darling Street, Balmain NSW 2041 T: (02) 9556 9113 F: (02) 9818 6080 E: email@example.com W: www.mahlabmedia.com.au Printed by: Webstar Mailed by: D&D Mailing Services Cover photography: Trevor Connell, EventPix 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 publica- tion will be liable for any loss or damage caused by any inaccurate statement, opinion, advice or infor- mation contained in this publication. Circulation: 12,727 (Average net distribution, September 2011) Finalist in the Association of Publishing agencies’ 2011 International content Marketing Awards CEO MESSAGE
Mortgage and Finance Brief 13
Mortgage and Finance Brief 15