Considering a Career in Finance?

1. S
A Career in Finance
Under the MFAA Certified Mentor™ Programme

2. History of our Industry
S Mortgage Brokers pioneered our industry 20 years ago
S Late night visits to homes, hand filled in application forms
S Focused only on selling (flogging) home loans
S 10 Years ago – less than 30% market share of home
loans
S Mostly ex Bank Managers or Bank Staff
S A new, developing and innovative industry

3. S
“The mortgage and finance industry
today in Australia is now a $100
Billion Dollar industry”
~ Do you want a slice of it?

4. Quick Statistics
S $100 Billion industry, head groups writing $3B + per
month
S Many million dollar brokerages exist, bought and sold
S The next wave of professional practices
S Opportunity to specialise
S More than 50% of brokers are ready to retire
S Succession planning crisis projected 2017 - 2020

5. About the MFAA
S MFAA = Mortgage Finance Association Australia
S Over 11,000 registered members
S Australia’s peak body supporting the finance industry
S Provides training, support and professional development

6. S
“We are looking for young dynamic
professionals to join us and be part
of our $100 Billion Dollar industry.”
~ Are you our next successful Credit Adviser?

7. Introducing the Credit Adviser
S A new generation of mortgage broker
S Accredited by the MFAA
S High ongoing education and ethical standards
S Professionally mentored by a MFAA Certified Mentors™
S 85% people think it is important for a broker/adviser to
belong to a professional industry body before engaging
them

8. What does a Credit Adviser
do?
S Talk to people, any one you meet could be a client
S Help people understand financial principles
S Help people with short or long term funding
S Research lenders, policy and products
S Provide credit advice and write home loans
S Turn your clients into raving fans and clients for life

9. Why do this?
S Very attainable initial and ongoing education
requirements
S A very high demand
S Awesome income potential
S Ongoing support from Mentors and industry peers

10. More reasons to do this
S Time flexibility
S You are a professional
S Additional career options and pathways
S It’s a career you can be proud to be a part of
S People will actually want to speak to you, ask your advice

11. A real demand
S 40% to 45% of home loans are written by Credit Advisers
S The last 10 years has seen about 15% increase. Up from
30%
S Close to 40% of current advisers due to retire next 10
years
S Only 6% of the of current credit advisers are under 30
S Companies like Connective & e-Financial have the
infrastructure and vision to support the growth required

12. Earning potential is uncapped
S Earn commissions when the loan is settled (up-Front)
S Earn commissions for the LIFE OF THE LOAN (Trail)
S Earn brokerages from motor vehicle finance
S Receive referral fees for financial planning
S Receive referral fees for property sales
S Earn income by charging a fee for your services

13. Starting out
Loan Amount Upfront Commission Trail Commission
$320,000 $1,536 $42 per month
$450,000 $2,160 $60 per month
__________________
__
__________________
__
__________________
__
$770,000 $3,696 $102 per month

14. A typical month
Loan Amount Upfront Commission Trail Commission
$320,000 $1,536 $42 per month
$450,000 $2,160 $60 per month
$295,000 $1,416 $39 per month
$225,000 $1,080 $30 per month
__________________
__
__________________
__
__________________
__
$1,290,000 $6,192 $171 per month

15. An awesome month!
Loan Amount Upfront Commission Trail Commission
$550,000 $2,640 $73 Per month
$425,000 $2,040 $56 Per month
$640,000 $3,072 $85 Per month
$1,250,000 $6,000 $166 Per month
$380,000 $1,824 $50 Per month
__________________
__
__________________
__
__________________
__
$3,245,000 $15,576 $430 Per month

16. And by asking one question
S A Car loan $250 to $750
S Insurance policies $50 to $100
S Financial Planning referral $500 to $1,500
S Fee for Service $60, $100, $1,350
S Property referrals $2,000 to $8,000
S $7M Commercial Referral $6,300

17. Big picture – Business
valuation
Not many businesses have an exit strategy like this
Loan Book Upfront Earned Yearly Trail Sell your book
at
$20 Million $96,000 $32,000 $80,000
$50 Million $240,000 $80,000 $200,000
$100 Million $480,000 $160,000 $400,000
$200 Million $960,000 $320,000 $800,000
$500 Million $2,400,000 $800,000 $2,000,000
One Billion $4,800,000 $1,600,000 $4,000,000

18. Regardless of business option

19. What is a Credit
Representative
S Introduced into the industry in 2010
S Authorised by ASIC to provide credit advice
S All new loan writers have to be Credit Representatives
S In 2 years you may apply for an Australian Credit Licence
S Holding an Australian Credit Licence is a big
responsibility

20. A quote from Borimir
(Lord of the Rings)
S “One does not simply … rock up to a
bank and write home loans”
S You need an aggregator.

21. Joining an aggregator
S Provide the IT platforms to connect to a bank
S Provide compliance professional development support
S Aggregators manage commission payments your behalf
S Industry standard starting point is 80% of commissions
S Most will want you to become their Credit Representative

22. Organising your business
S Your brand is YOU! You are the one who gets referred
S Do you want lead generation?
S Do you know how many forms you will be filling out?
S So what do you put on your website?
S How do you gain instant credibility?
S Most new entrants take 3 to 6 months to get started

23. Finding a Mentor
S A good mentor can accelerate your career income
S A good mentor doesn’t have to be actively writing loans
S Mentoring is a personal investment by the mentor
S Mentors, mentor because they have a passion for
finance, people and success like no other.

24. Business options
Franchise
(Larger Groups)
High start up
Client ownership?
Varied support
Low commissions
Limited control
Go it Alone
(Aggregator Direct)
Moderate start up
You own the client
Limited support
Fair commissions
Total control
E-Financial
(Sub-Aggregator)
Low start up
You own the client
Total support
Fair commissions
Total control

25. Partnering with e-Financial
Credit
Representative
Sub Aggregation
Brand and Systems Mentoring support
e-Financial

26. Our Aggregator - Connective
S 10+ years of success in the Mortgage an Finance
Industry
S The industry’s fairest fee structure, offering 100% / 100%
*
S Superior IT platform. The industry’s best and user
friendly.
S Flexibility & control over product pricing and service
S No lock in contracts
S Total ownership of your clients and data

27. e-Financial – Business Partner
S Established 1999 on the Gold Coast. Same address 11
years.
S E-Financial Group – Australian Credit Licensee
S Access to 30+ Lenders, Residential, Commercial &
Private
S Not a Franchise, commissions paid directly to you
S Innovative approaches, we speak Gen Y and Gen Z
S You will belong to a group of like minded people

28. S
“The most powerful narcotic in the
world is the promise of belonging.”
~ Kalle Lasn

29. Starting your business
S To start any business there initial setup costs
S Setting up your company structure
S Completing the required education
S Obtaining the required accreditations and memberships
S Setting up your business environment

30. Operating your business
S Each business has ongoing operating expenses
S Authorisations, memberships and insurances
S Aggregation and operational platforms
S Brand and marketing
S Mentoring and ongoing education

31. Getting started
S Get a mentor first. They can be your career project
manager
S Do the required national police and credit checks
S Obtain your Certificate IV in Finance
S Join e-Financial Group as a Credit Representative
S Join an aggregation group
S Join e-Financial with full brand and mentoring support

32. S
“No matter what your reason for
wanting to start your own business,
developing the foundation is the
same. Laying a solid foundation will
provide you with a road map to
follow as you build your business.

33. Certified Mentor™ Programme
S Written and updated by the best of the best at the MFAA
S It’s about structure, support and success for 2 years
S Regular monthly interactive workshops
S On the job mentoring on real scenarios, real people
S On call support, by your Mentor and industry peers
S Unbeatable value for money

34. Key success factors
“Attitude”
S The desire for you to do this has to come from within
“If it is to be, It is up to me”
S People skills, if you can smile you are half way there
S Have a genuine desire to help people
S Adaptable to change, not on a daily basis, but close

35. Critical success factors
S The belief that you are capable to do this
S Time management and organisational skills
S Customer and client relationships
S “We mentor you in all of this.”

36. Next Step
S Ask for a complete information memorandum
S Pre Mentoring – Complete mentoring application
S Meet with a mentor to map out your career path
S  Partner with e-Financial and Connective… or
S  Your own brand, business and operating systems

37. Visit our You Tube Channel
(Click the YouTube logo)

38. Thank you
S“Thank you for considering
a career in finance.”