Broker. October 2018

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October 2018







cover story

Tom Panos: 06 In the chair INDUSTRY NEWS 08 AGGREGATOR NEWS 12 Lender news 22

With Tony Carter

Interesting times ahead

Aggregation in the moving lane

Additional thoughts on SMSF LRBAs 2018 National Industry Conference Meet this year’s speakers

26 Chelsea Pottenger 32 martin Grunstein 42 Mindfulness


How to make sales without dropping your price

NIIK stewart

Change your mindset, change your income

Kym Dalton

58 62

The future of broking

Natasha Hawker Someone in your team has experienced domestic violence

FBAA EVENTs 64 Educating for change 4

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If you don’t like change, you’re going to hate extinction

EDITOR & HEAD OF CONTENT Peter White MANAGING EDITOR Krystal Camilleri STAFF WRITER Rachel Licciardello CREATIVE DESIGN & PHOTOGRAPHY Jodi Hadcroft Matthew Gianoulis Krystal Camilleri ADVERTISING Krystal Camilleri TELL US WHAT YOU THINK We appreciate hearing from readers. If you have feedback, news or have a story idea you would like us to cover, please contact us using the below details NEWS, ADVERTISING AND ADMINISTRATION e: p: 07 4721 1174 w:



looking to tomorrow

All information and images are subject to copyright. No part of this publication may be reproduced without prior permission in writing to the Finance Brokers Association of Australia Limited. The views and opinions of the authors and advertisers do not necessarily reflect the opinions of the publisher. While every effort has been made to ensure the accuracy of information at the time of publishing, the publisher accepts no responsibility or liability for errors, omissions or subsequent consequences including loss or damage from reliance on information in this publication.

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In The Chair with Tony Carter


he FBAA recently reviewed our current strategy, and from this review we have refined and reaffirmed our purpose; that we are very much focused on members. Obviously, as a memberfocused association this won’t be a surprise. I want to emphasise here that we don’t see our role simply to supply services or showcase products, but instead see our purpose as business partners to members. It’s in our industry’s interest, our customers’ interest, the FBAA’s interest and your professional interest to be the best businessperson and broker you can be. Being a broker and being a businessperson are two separate, equally valuable skill sets, and we are committed to helping you develop each of these. For those of you I have not already met through my dealings as FBAA’s WA State President, I am a born and bred Western Australian with that undeniable WA entrepreneurial spirit, and hail from the motor industry. Whilst being actively involved in asset finance and having had connectivity to finance throughout my career, I believe what I bring to the FBAA table is a set of strong business skills. My business background includes running automotive companies with a turnover in excess of $50m, with 100 employees and various operating departments. As such, my strengths and experience are in business operations, growth and leadership.


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I see my role as Chairman steering the direction for the FBAA, continuing and growing our focus on delivering tools and knowledge to help you as members progress your careers and continue elevating our industry in the eyes of consumers and regulators. I would like to take this opportunity to acknowledge our previous Chairman Jan Kirstein, who has done a tremendous job during his time in this seat. As you know, Jan stood down as Chairman due to personal circumstance, to devote more time to his family. Jan’s knowledge of and contribution to our industry has been invaluable to the FBAA and has helped put us in good stead with government, regulators and media. We are fortunate that Jan is able to continue his involvement with the FBAA, retaining his seat on the Board. I look forward to navigating the next era for the FBAA.

Tony Carter Chairman

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The FBAA’s activity concerning our industry’s regulatory space continues, with the recent release of our response to the Productivity Commission Inquiry into Competition in the Australian Financial System, our continued focus on the impact of new credit card reforms and our response to the Royal Commission’s findings as released in late September. As always, the FBAA is in the mix, representing Australian brokers.


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Interesting times ahead

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Interesting times ahead RESPONSE TO THE PRODUCTIVITY COMMISSION The hot topic in the industry of late is that brokers are going to lose their commissions, but I do not believe that will happen. The August-released Productivity Commission’s final report into Competition within the Australian Financial System made some pretty damning comments about broker’s commissions and sent industry media into a spin. Of course, we expected this report to be contentious since it commenced July 2017. I should mention here that Treasury and ASIC have not supported the views presented by the Productivity Commission, which of course benefits our position. The highly-regarded, industry-led Combined Industry Forum reforms have put measures in place to remove volume bonus incentives and soft dollar commissions and ensure brokers are not incentivised by volume, loan size or commission. As an industry, we are focused on ensuring brokers provide good consumer outcomes, with borrowers taking loans appropriate in size, term and are compliant. We have spent August and September working through the 686-page final report – of which the summary alone was 58 pages – to produce a considered response on behalf of you, our members. The FBAA’s response to the Productivity Commission’s report will soon be available to view via the FBAA website’s members section. 10

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We did expect Government to make a formal decision during October, however with the recent, sudden changes within the Liberal Party, this timeline may be altered. We will of course keep you updated throughout this process. CREDIT CARD REFORMS COMING IN 2019 Staying with the theme of regulatory changes impacting our industry, the credit card reforms coming in January 2019 remain on our radar. We recognise that these reforms will change how credit cards are treated from a loan serviceability point of view; and we have concerns about this legislation and how it will impact the marketplace, and consumers. By making the servicing criteria higher, customers may struggle to get their car loan or home loan, because of their credit card history. We are in mid-point discussions, working with Government, and also with the Australian Retailers’ Association (which has supported our position to Government), to determine the end game. We will of course update you as we progress on this item.


SHINING STARS IN FINANCE FBAA’s National Business Development & Conference Manager Leah Renwick and Board Member and Company Secretary Kim Szigeti were each named finalists in the prestigious Women in Finance Awards 2018, held September 20. Both Leah and Kim are highly deserving of this recognition. Working with each of them on a regular basis, I can attest to their levels of professionalism, dedication to industry and desire to improve the broking industry from the inside-out. WELCOMED RECOGNITION I am proud to announce that the FBAA has been named a finalist for Finance Business of the Year in the 2018 Optus MyBusiness Awards, which will be held in November. I too, have been named a finalist for Business Leader of the Year in these awards (for a second consecutive year). Of course, awards aren’t the sole measure of success and public recognition certainly isn’t why I do what I do, or why any of us

at the FBAA do what we do for that matter. However, this sort of recognition reaffirms that my work and the FBAA’s work is seen and valued, and making an impact; which is what we aim to do daily. 2018 NATIONAL INDUSTRY CONFERENCE On the topic of awards, we are inching closer to our annual industry awards evening, where we will celebrate the doers within broking. Preceding our awards celebration is our signature event, the highly-

regarded FBAA National Industry Conference which is this year themed Evolution. We see the FBAA as a broker’s business partner, and each speaker has been selected to help reinvigorate you, to energise and inspire you, and to give you real tools to evolve your business to the next level. Visit pages 26-28 of this edition of Broker, or head to the FBAA website, to view this year’s speaker lineup, and read about each presenter’s area of expertise.

Nothing is as constant as change, and our industry has changed continuously over the past 25 years due to technology, regulation and customer behaviour. (October marks my 40th year in the industry, so I can attest to this!) We’ve had an eventful 25 years in this industry, and I’m confident in saying there are interesting times ahead for all of us. Our National Industry Conference has become the largest in the country, and I look forward to catching up with you, our members, on Friday 16 November.

Peter White

Executive Director


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More than a ‘middle man,’ the role of the aggregator is to understand the customer, the broker, the lender and the legislation in order to effectively evolve products and services for better consumer outcomes, emphasises Specialist Finance Group’s Blake Buchanan. FBAA invited Blake to share his updates from within the aggregator space.


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Aggregator news

Aggregation in the moving lane

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Aggregation in the moving lane S

pecialist Finance Group has seen unprecedented growth recently in the face of uncertain and challenging times. Speaking to the FBAA, Blake Buchanan explains why being agile in an unfavourable market can yield exceptional results. A common response to uncertainty is to bunker down and protect what we have. In the last few years, we have seen unprecedented scrutiny and change. From ASIC to APRA, Government to Consumer Groups, the resounding message from all sides is that competition is good as it creates not only better results from a rate and price perspective, but also innovation. Brokers bring about that competition unquestionably. Would offset accounts be mainstream today without brokers? Would greater enquiry into our clients’ financial positions and greater consumer outcomes be at the forefront of brokers’ and lenders’ objectives without brokers? Would digital innovations, online comparisons and tools be available for consumers should brokers not exist? Our job, my job, is to understand the consumer, the broker, the lender and the legislation and continue to evolve, design and develop better tools, products and

Blake Buchanan

Specialist Finance Group


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services for brokers that ultimately improve consumer outcomes.

for our members that is more efficient, digital and compliant.

Staying ahead of the curve allows us to invest in new people, partners and technology to ensure that we can not only weather the storm of challenging times but future proof our and our brokers’ business. Earlier in the year we released the latest technology to hit the broker market which is called SFGconnect, an enterprise version of Sales Trekker. SFGconnect software provides our members with a clear unique advantage. It is a feature-packed solution designed to reduce workload, improve compliance and enable collaborative involvement of brokers, their staff, clients and referral partners during and after the loan application process.

Whatever system you are using, you should train, retrain and keep on top of emerging digital developments to ensure you are getting the most you can from your CRM. A common problem that we find across the broader broker market is that many fail to invest in their business and their process which ultimately costs time and money. Reach out to your aggregator, attend professional development days and book some time with your BDM as we are your business partner and invested in your success.

SFGconnect has an in-built crossselling capability to maximise the solutions that brokers can offer to their clients. It is built on the latest modular technology which allows for all new APIs to be fully integrated. The technology has been the talk of the town in broker circles and having some 15 years in the industry, it is certainly the most advanced system that I have seen that ticks all of the boxes on a broker’s wish list. Combined with new appointments in our sales, training and compliance divisions, SFG has created a program

Identify your client’s broader needs specific to the current transaction but, importantly, think about the whole transaction inclusive of future needs and what you can do to bring more solutions to the table. Forge relationships with insurance firms, planners, services connection groups, conveyancers and more. “Identify and assist” is crucial to great service. Many industry mindsets are that we are lucky to have clients; but just remember, your clients are lucky to have you assisting with their financial needs and obtaining the Aussie dream!

POINT OF DIFFERENCE: Blake Buchanan with Specialist Finance Group’s owner and managing director William Lockett who works within the business, giving members direct access to the owner/manager.

SFG 100% not bank owned SFG is a family owned and operated business, and has been for some 27 years. We are not only proud to be one the very few remaining aggregators with no institutional or bank ownership, but believe all aggregators could be independent of such. William Lockett is the owner and managing director of SFG, and spends his days in the business working with our brokers, staff and partners. This completely sets us apart from the competition, and is a major value-add to the

SFG offer. Our members have direct access to the owner, and from a structural perspective, this allows us to make decisions and necessary changes swiftly.

implementing good old-fashioned customer service in our trade, SFG has always, and will always, hold this steadfastly as one of our core values.

SFG has a long history of forging deep relationships with its members, and provides outstanding value to the broker channel. SFG is one of Australia’s oldest aggregators, and draws on its industry tenure to provide exemplary systems, support and strategies to our members. Whilst many industry stalwarts are feeling the challenges of

At SFG we love our industry, growing with and working with the best people in it to solve problems, create solutions, encourage better practices, and build the systems and the brokers of tomorrow. We need to ensure that our incredibly important industry is protected and future proofed and will work tirelessly to achieve it.

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Whatever adventure you choose, the BMW x4 is guaranteed to deliver the agility and performance you expect...


ith a launch lineup encompassing four variants, including the first ever X4 M40i M Performance model, the distinctivelystyled Sports Activity Coupe has a longer, lower and wider stance, ensuring high practicality levels without compromising on sporting performance. The five-seat BMW X4 showcases a driveroriented interior with luxury trims, as well as the characteristic coupe roofline that enhances its sporting stance. Standard across the range is the active BMW xDrive all-wheel drive system, as well as an adaptive suspension setup that can be tailored to the road surface at-hand. Whatever adventure you choose, the all new BMW X4 is guaranteed to deliver the agility and performance you expect of The Ultimate Driving Machine. Furthering its sporty intent, the all new BMW X4 comes with the ever-popular M Sport Package as standard for 20i, 20d and 30i variants. Being an M Performance machine, the new X4 M40i builds further on this package with bespoke styling touches and additional dynamic tuning.

For those seeking an adventurous appearance, the M Sport X Package is also available on 20i, 20d and 30i variants. This no-cost option adds a rugged exterior look that has true weekend appeal. The unique Sports Activity Coupe can be further tailored with an expansive range of options, including items sourced from the exclusive BMW Individual catalogue for the first time. BMW Australia has also created an array of option packages for those seeking strong valuefor-money. Taking key technologies from the renowned BMW 7 Series and BMW 5 Series saloons, the BMW X4 majors on connectivity. BMW’s ConnectedDrive suite is available, while Connected+ enables seamless integration of the driver’s smartphone. The large 10.25-inch central screen comes standard across the range and offers touchscreen interaction and an app-style sortable interface.


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This intuitive system can also be accessed via the centre console-mounted iDrive controller or via Natural Voice recognition. Also available is BMW’s advanced semiautonomous functionality, which uses an array of sensors and cameras to allow bursts of hands-free highway driving. There are four engines available for the all new BMW X4; three petrol and one diesel. The $76,900 (MRLP) BMW X4 xDrive20i introduces the range, featuring a 2.0-litre turbocharged four-cylinder petrol engine that produces 135kW and 290Nm of torque, accelerating from 0–100km/h in 8.3 seconds. Opting for the $79,900 (MRLP) xDrive20d brings a 2.0-litre turbocharged four-cylinder diesel engine. It produces 140kW and a stout 400Nm of torque for impressive pulling power. The benchmark 0–100km/h sprint is achieved in 8.0 seconds. Climbing the ladder into the $83,900 (MRLP) xDrive30i offers a high-output version of the 2.0-litre turbo-petrol unit, generating 185kW and 350Nm. 100km/h is achieved in only 6.3 seconds. Finally, the launch hero model is the first ever BMW X4 M40i M Performance model. Priced from $109,900 (MRLP), the incredible 3.0-litre straight six-cylinder petrol engine allows the X4 M40i to produce some 265kW along with a stout 500Nm torque peak. This translates to a 0–100km/h time of just 4.8 seconds. But it’s not just in a straight line that the M40i impresses. Features such as the M Sport Differential, Adaptive M Suspension and 21-inch BMW M light alloy wheels allow for superior traction and handling capability. With the all new BMW X4 you can have a commanding, versatile and practical all-wheel drive while still retaining coupe-like appearance, dynamics and performance. It really is the best of both worlds.


It’s all about your drive. We are proud to offer members of the Finance Brokers Association of Australia added benefits when purchasing a BMW, giving you the opportunity to experience the performance, style and dynamism of these exciting vehicles for yourself.

For a limited time, when you purchase your new BMW before 31 December 2018, you’ll also receive an upgraded 10 years / 100,000kms Service Inclusive Basic* package plus a $1,000 Bonus^ across the range. To find your new BMW, visit your local authorised dealer today.



Offers apply to new BMW vehicles ordered between 01.10.2018 and 31.12.2018 and delivered by 31.12.2018 at participating authorised BMW dealers by Finance Brokers Association of Australia members or their spouse. Standard production lead times apply. Unless excluded, this offer may be used in conjunction with other applicable offers during the promotion period. ^Bonus discount amount includes GST and is applied once to reduce the driveaway price of the vehicle purchased and may not otherwise be redeemable for cash and is not negotiable or transferable. *Benefits apply to the purchase of a new BMW vehicle and only to the vehicle purchased. Complimentary service inclusive - Basic, including Vehicle Check, is valid from date of first registration or whichever comes first of 10 years/100,000kms and is based on BMW Condition Based Servicing, as appropriate. Normal wear and tear items and other exclusions apply. Servicing must be conducted by an authorised BMW dealer in Australia. Subject to eligibility. Terms, conditions, exclusions and other limitations apply, and can be viewed at corporate.

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How long does it take to build a business? How long can it take to lose one?

A lot can happen in just 24 hours. Including organising urgent finance that could save your client’s business. It’s a late night for us, but a new day for them. 20

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Following on from the FBAA’s recently-held successful series of Masterclass events, we invited Peter Vala from commercial property finance specialist Thinktank to expand on some aspects of Self Managed Super Fund Limited Recourse Borrowing Arrangements, or SMSF LRBAs.


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SMSF LRBAs Additional Thoughts

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SMSF LRBAs – Additional Thoughts



here have been numerous changes in the market in recent times, not necessarily only through the tightening of bank policy but also the rationalisation of those lenders wishing to remain active in this market segment. However, there are many lenders that remain active in this segment including Thinktank who are strongly positioned to continue to support the broker market with Commercial Self Managed Super Fund Limited Recourse Borrowing Arrangements or SMSF LRBAs.

term owner-occupied investment in “business real property”.

transfers, or refinance of an existing loan.

Unlike residential SMSF LRBAs, SMEs can occupy a commercial property held via a related SMSF type structure where an arm’s length commercial lease is entered into at market rates.

The acquisition of a property is quite simple and is achieved through prescribed trust structure involving the SMSF Trust and Custodian or Bare Trust with the members of the SMSF usually providing personal guarantees.

Since 2012, SMSF investment portfolios have from grown from a modest $2.5 billion to $31.4 billion as at December 2017. LRBAs are secured mostly by direct property, both residential and commercial and of these assets it represents just 19.2%.

When correctly structured, the proposed loan repayments for an SMSF LRBA are unlikely to be significantly different when compared to market rent for a comparable property. Importantly, stability, tenure and goodwill are preserved for the SME and its owner/s.

It is widely expected that this number will continue to grow in large part as a result of the attraction of tax effective, long24

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Accordingly, we believe the greatest area of growth is in the commercial property asset class with owner-occupiers looking at long-term investment strategies and securing tenure through indirect ownership.

Generally, SMSF lending falls into two categories, acquisition of property, including in specie

“When correctly structured, the proposed loan repayments for an SMSF LRBA are unlikely to be significantly different when compared to market rent for a comparable property.” At times when a property is acquired a GST component is present and can be met a number of ways including cash already held in the fund, sale of

asset, the raising of additional non-concessional contributions, or in Thinktank’s case the establishment of a second short term LRBA facility within the fund to finance the GST component. In specie transactions in reference to property transactions see the SMSF acquiring a “business real property� asset from an associated member. A loan is raised by the SMSF and the equity used to complete the purchase is in the form of a non-cash non-concessional contribution accounted for via the existing

equity held in the property by the member/s of the fund. Significant tax advantages can come into play once the asset is held in the SMSF and treatment of transfer stamp duty can be quite favourable depending in which state or territory the transaction occurs.

process for funding the purchase or refinance of a commercial property under various structures, including tenants-in-common transactions which often proves difficult for other lenders.

If brokers are looking for a better understanding of the structure and general workings of an SMSF LRBA, Thinktank provides various education and accreditation sessions on SMSFs and the

Peter Vala Thinktank

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2018 NATIONAL INDUSTRY CONFERENCE 16th of November 2018 Seaworld Conference Centre on the Gold Coast

SPEAKERS MEET CHELSEA Chelsea Pottenger is an international speaker, a proud ambassador for mental health charities including RUOK?

Martin Grunstein and The Gidget

Peter Switzer

Niik Stewart

Rob Carlton

TOm PAnos

Founda ti on and an established authority on Mindfulness and productivity both locally and internationally.



BIO Chelsea is the dynamic, brilliant and inspirational Director of EQ Consulting Co who is on a mission to empower high performance through greater mindfulness. Broker Magazine She is regularly featured in Marie Claire, Women’s Health, UK Daily Mail, Channel 9, ABC News and 2DayFM and with


and mindfulness in Australia. Anyone that attends her events will laugh, learn, grow and walk away with some life-changing tools to help them become more successful, more energised and most importantly more able to tackle any challenge life throws at

In 2015, Chelsea experienced debilitating Post-Natal Depression, which sent her mental health spiralling downwards. With determination, help and resilience Chelsea bounced back with a new purpose, passion and education.

The FBAA National Industry Conference returns November 16, 2018, again maintaining its position as Australia’s largest finance industry event. Join over 1,000 finance professionals and discover new products, services and tools that can help you evolve your career as a broker. Connect with peers and build your network, share your knowledge, and be inspired by a stellar line up of influential and inspiring speakers. CHELSEA POTTENGER is an international speaker, a proud ambassador for mental health charities including RUOK? and The Gidget Foundation and an established authority on mindfulness and productivity both locally and internationally. For 12 years, Chelsea was known for her extraordinary work ethic and as a high performer delivering results for numerous big name organisations. Then a lifechallenge happened.

Chelsea embarked on her PHD in psychology and neuroscience and became the poster girl for mental health and mindfulness in Australia. Chelsea now recognises that burnout is not an indicator of success. On her days off, she surfs with her husband Jay, hikes in nature, jumps out of planes and bike rides around their coastal beach town, with her 3-year-old daughter, Clara, who often whispers in her ear ‘Mummy we live in heaven.’ TOM PANOS will talk about what the modern-day broker is doing to acquire clients who are time poor, social media savvy and know the price of everything but the value of nothing. In the new connection economy we live in, there are no more blind dates in broking, there is a new digital interview that takes place! Tom will show you how to become a world class brand and your own media company to attract an endless list of potential prospects. Housing Prices, Cost of Funds, Changes in lending and a Royal Commission. What does it all mean and what are the flow on effects? PETER SWITZER is back for his sixth FBAA National Industry Conference, and will be keeping the Industry up to date with the

state of play of the economy for 2019 and beyond. Peter Switzer is not only one of Australia’s leading business and financial commentators but also a successful businessman in his own right. Launched more than 20 years ago, The Switzer Group has grown into three successful companies spanning media and publishing, non-commission financial planning, home loans, a managed fund and business coaching. NIIK STEWART is well considered by most in the industry to be the #1 success mentor for mortgage and finance brokers in the world. In the area of personal and professional development, high-performance and income increasing strategies for salespeople Niik is unmatched. From Los Angeles, California, Niik overcame the obstacles to become a successful professional basketball player who then became a topproducing and top-earning salesperson and now works with and mentors the best athletes, mortgage brokers, high-profile celebrities and real estate agents in the world. His session will not only be inspiring, but practical, resultsoriented, entertaining and enlightening as well. Some of the success and highperformance strategies that small businesses learn from Niik’s Success + Mindset PepTalk in Finance include: • How any finance professional can focus more time on being productive and effective rather than being just busy. • How any finance professional can become more committed to achieving consistent positive results in their Broker Broker Magazine Magazine

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office and mortgage business. • How any finance professional can adjust their attitude and perspective of their current marketplace so that they can achieve more success in the next 12 months, regardless of the economy. • How anyone in business can develop an action plan to put in place the strategies and techniques that they already ‘know’ but still have not applied yet in their finance business.

Saints. He has also appeared in many movies including Strange Bedfellows, You Can’t Stop the Murders and The Year My Voice Broke. Carlton trained with the Australian Theatre for Young People in Sydney, Australia for many years learning the foundations of acting for screen and stage.


MARTIN GRUNSTEIN studied Psychology and Marketing at University of N.S.W. He spent four years in sales and marketing with Colgate-Palmolive before setting up Success Communications in 1985. In Martin’s session, you will learn ‘The Rules to a Successful Business’. From understanding that the customer is almost always never right (but you leave them thinking they are), to understanding your first impression is a lasting impression, and not to forget reducing the risk not the price. ASIC’s front-line team will be there to deliver the 2018 review and what is ahead for 2019 and answer any questions that our attendees may have regarding the changes that are coming into effect. This is one of the only industry opportunities to hear it straight from the regulator and if time permits have your questions answered directly. ROB CARLTON has been a professional actor since the age of 14 and has appeared in many television series from Young Ramsay to A Country Practice, Home and Away, Blue Heelers, Water Rats, Fireflies, McLeod’s Daughters and All 28

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He starred in, co-produced and co-directed the short film Carmichael & Shane, which was the 2006 Tropfest winner. He co-starred with his real-life twin sons Jim and Leo Carlton, who played the title characters Carmichael and Shane. Carlton also won the award for Best Male Actor. In April 2011 Carlton starred in the Australian Broadcasting Corporation’s Paper Giants: The Birth of Cleo as the acerbic and charismatic king of Australian media, Kerry Packer. The miniseries rated strongly over two nights on 17 and 18 April 2011 and Carlton’s performance, along with co-star Asher Keddie as Ita Buttrose, was well received by audiences and critics alike. In April 2012, Carlton won a Silver Logie Award for his performance in the role. With a comprehensive understanding of the Australian Financial Services Sector Rob is sure to bring his understanding and passion for our Industry into his role as our MC for the day! The FBAA’s National Industry Conference is an essential event for all practitioners in the finance industry who embrace the evolution of the finance broking industry and their own career, or business.


16th of November 2018 Seaworld Conference Centre on the Gold Coast

Members – FREE Non-Members – $198* *

* All Registrations incur an Admin Fee of $22 on top of the above amounts which is non-refundable.

To secure you seats go to

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he sun might set in the west, but investment opportunity is on the rise when it comes to Perth’s residential property market. When it comes to property investment, buying is all in the timing. While the nation (or at least the majority of the nation’s population) has been watching Sydney and Melbourne residential markets boil over, Perth’s residential property market has been preparing for its return to the spotlight.

“The level of infrastructure investment that WA is witnessing, is the first of its kind in 20 years, and hence it is resulting in a revitalisation of key areas in the metropolitan area.” Perth has $60 billion of committed mining projects in the pipeline as well as over $8 billion in infrastructure now rolling out across the city including the Metronet transport system. Iron ore revenue increased 31% in the last financial year to $67.3 billion, and gold is hitting highs.

“If you could have bought within 1 kilometre from the MCG 10 years ago, you would have.” – DAVE WILSON, NORUP + WILSON GROUP

In fact, according to Real Estate Institute of Western Australia (REIWA), buying conditions in Perth are the best they’ve been in five years, following a market hangover from the mining boom. Dave Wilson, Director of Perthbased development company Norup + Wilson, says the east coast’s inflated property prices and Perth’s recovery from a twoyear low have created these ideal buying conditions. “Perth had experienced a significant property boom until 2013 when the market returned to a normalised cycle, but latest trends are showing that once again WA is moving into positive economic times and now is the time for a cyclical buy. We’re out of that two-year low and in the start of an upward swing,” explains Dave.


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“The beauty about WA is that we can now offer opportunity to buy property at highly affordable prices. Perth is one of the most affordable cities nationally and there is also a clear correlation between infrastructure development and the subsequent increase to property values in the immediate vicinity,” offers Dave. Norup + Wilson’s own residential projects are at the heart of major redevelopment zones throughout Perth. “Ultimately, as an investor you want to be purchasing in these locales at this early stage of redevelopment so that you can gain the maximum return over the longer term,” says Dave. “If you could have bought within 1 kilometre from the MCG 10 years ago, you would have. That is this opportunity now.”

The Precinct, Mt Pleasant.

The Precinct is part of the Canning Bridge $245 million redevelopment which will transform the area into a premium apartment hub located on the Swan River, with magnificent views of Perth’s CBD, Swan River and Canning River. The 22-storey tower is currently under construction and will include 10 restaurants and cafes at its ground level. The $190 million development is expected to be completed by early 2020. One-bedroom apartments start from $470,000 and penthouses from $1.61 million.

The Crest, Burswood.

A stone’s throw from the $1.6 billion stadium and located just 100 metres from the Crown Casino entertainment precinct, this under-construction development is part of the overall Burswood Peninsula District Structure Plan.

The Beach Shack, Scarborough Beach.

Scarborough Beach has undergone $100 million of investment upgrades including a new 50-metre pool and entertainment precinct. The Beach Shack, a 99-apartment beachfront residential development, was one of the fastest selling apartment developments in WA in the first quarter of 2018. Dave says WA had not seen such rigorous apartment sales activity since Q1 2016. For more information on the mentioned residential apartment projects, visit

The future inAWA looking bright timeisfor opportunities


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$2.6B $2.6B Metronet Metronet $2.6B Metronet

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organisations cultivate positive

Employee Health? Enter: Mindfulness by Chelsea Pottenger

Broker Magazine



In 2017, Great Places to Work Australia surveyed 65,000 professionals, which showed employeerated ‘best places to work’ are where organisations are now investing in bike racks in the office, healthy food snacks in the kitchen, gyms, showers, natural light environments and meditation rooms. More and more people are realising that the new iPhone X or new Porsche Macan, aren’t going to satisfy our search for happiness. It is really about an inner journey and an inner transformation that is important. EQ Consulting Co’s mission is to create avenues and platforms where this can be explored for organisations.

How can organisations cultivate positive Employee Health? Enter: Mindfulness

By Chelsea Pottenger Director, EQ Consulting Co.


ust as technology has soared over the past couple of years, peoples’ need for calm and mindfulness has also increased. Many people are starting to realise that alongside a really intense tech-life, they also need a contemplative, calm life and ways to disconnect. It’s now making sense why these two worlds are growing together and why mindfulness and meditation is now a $1 billion industry. The more professionals engage technology, if they aren’t tending to their own mind and body, the more they suffer the consequences like disturbed sleep, less focus at work, more anxiety and great difficulty to relax their nervous system. Professionals are also noticing an increased irritability when interacting with family or colleagues. WHAT DO EMPLOYEES VALUE NOW COMPARED TO A DECADE AGO? According to Great Places to Work Australia, employees are really searching for a proper balance in their life, where their career is about the long-term play, not the short-term burn out.


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Mindfulness is a simple concept. It teaches us to be in the present moment. Anything in the past has gone, that’s where depression resides. Anything in the future, hasn’t happened yet. If we are always in the future, that is where anxiety exists. The only thing that truly matters is what is happening now. That is where peace lives. These days, most of the tech leaders that we look to, are tapping into some form of meditation where they are harnessing a different level of intelligence. They believe this is a win-win practice.

“Tech companies like Uber, eBay and Mercedes Benz are working with EQ Consulting Co. because they believe that the more their people are connected to their bodies, they are more connected to colleagues and clients, and they are more creative in their field of work and making a better more conscious contribution to society.” – Chelsea Pottenger According to Steve Jobs’ biography, he believed: ‘Mindfulness and meditation doesn’t have to take away from your work. He found that meditation enabled him to hear the creative voice, the intuition, the vision and began to tap into a level of different intelligence.’

Why can’t you love both? Why can’t you love high tech, and also love inner peace and wisdom? If you want to cultivate a greater work-life balance for your people, so they can have a more fulfilled work and home life, then EQ Consulting Co can tailor bespoke workshops to suit your organisational needs. RETREAT As an aligned partner of FBAA, EQ Consulting Co gifts FBAA members a special price for our luxury retreat on the South Coast, NSW. We are booked out in 2018, however we are now taking bookings for 2019 if you want to recharge in a luxury Hamptons style house. Use the discount code SPECIALGIFT at to attend the $1300 retreat for just $550 (excluding accommodation).

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5 ways Snapfile can help your business S

napfile is the newest way to file-share, with a few added benefits designed specifically for mortgage brokers, real estate agents, lawyers, accountants and financial planners. 1. Security assurance Email is insecure by default. Sending important documents and personal information via email can make customers feel insecure, or lead to your staff opening scam attachments by accident. Using a secure, cloud-based app like Snapfile Compliance means you have easy, secure access to client information.

mote and grow your securely and connect u are



2. Industry-compliant documents in a snap With the click of a button, you can verify your client’s identiy to industry standards and generate an industry-compliant PDF document pulling information from the various files your client has shared with you. It’s one workflow sequence to save you time and ensure your boxes are ticked.

Snapfile Business is a fully responsive web application, meaning that

you can view the same content on

3. Brand exposure When you set up your Snapfile Compliance account, you have the option to add your logo. Every time you invite a client or colleague to use Snapfile Compliance, their free 5GB storage account will hold your logo on their homepage. It’s like a digital fridge magnet, promoting your brand to the Snapfile user.

your smartphone or tablet as you

can on your laptop or desktop. No compromises.

Throughout testing, the Snapfile developers found 80% of users continued using their account beyond just file-sharing for a loan application. Users went on to share image files with friends, and documents with colleagues. Your ‘digital fridge magnet’ stays on the fridge, so to speak, long after their loan is approved. 4. Time-saving As brokers, there’s nothing more frustrating than misplaced client details or missing paperwork. Snapfile Compliance can be linked with CRM software to save you and your staff hours of data entry. The industry-compliant PDF generation feature also saves valuable hours, as does Snapfile’s Business Directory, which allows users to easily find all businesses with a Snapfile business account. 5. Affordability Snapfile Compliance is well-priced, with more functions suited to brokers than its competitors. In fact, Snapfile for Business is free to join, and paid accounts are more affordable than Dropbox or Google Drive. Take Snapfile Compliance for a test drive. Join for free and invite your team, trial the app’s functions, then invite your clients. Interested in joining Snapfile Compliance’s thousands of satisfied users? Visit

Snapfile helps you promote and grow your business, manage files securely and connect with clients wherever you are Snapfile is a simple, yet powerful tool

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Bernard Salt: looking to tomorrow A

s Australia’s leading demographer and social commentator, Bernard Salt has carved a name for himself as the go-to for insights into our behaviours, workplaces, homes and buying habits. In this edition of Broker, we ask Bernard which issues of tomorrow should we be focusing on today. In August, Australia’s population reached 25 million. While we are only the 53rd most populated country, we do maintain position as the world’s 13th largest economy. Australia is small by population, large by land size, distant by geography but generous in opportunity and potential. However, with August’s Prime Minister swap demonstrating again Australia’s political instability, we are reminded that our government (both parties) is focused on electoral survival over national interest. At the time of writing this 38

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“No one’s special; everyone has to work, everyone has to adapt.” article, we were only just settling with the reality that we have our fifth Prime Minister in little more than five years. When it comes to Australia’s future, demographer Bernard Salt has established a reputation for delivering clever insights that are both informative and entertaining. Bernard has been keynote speaker at countless events across Australia and the world, presented social insights about our families, property, industry, economy, workplaces, consumer spending, behaviours and the future we have created. In his two well-read weekly columns for The Australian newspaper, Bernard writes about the big issues and the small, and everything in between; he writes about how Australians exhibit their evolving wealth with cars, property, superfluous cushions and butlers pantries, how global businesses based outside of Australia are eroding our economic sovereignty and why we need to support Australian enterprise and cultivate a culture of entrepreneurialism.


Recently, Bernard has emphasised Australia’s need to give more attention to China’s rising power and what that means for us. His position is that while Australia’s short-term outlook is positive, the issues we need to address are these bigger geopolitical issues. “I think the big issues for Australia are around maintaining geopolitical stability,” says Bernard. “In our ideal world, we would continue to deliver services and to sell stuff into a rising China and India, forever into the future. But that trajectory would be impacted if there were geopolitical barriers; as in some sort of tension that results in a trade blockage. A blockage, so we can’t sell our meat or wheat or wool or iron ore or coal or gas to China or the India. “We need to be really good at navigating global superpower tensions. We can’t influence our future; the Americans aren’t going to listen to us and the Chinese aren’t going to listen to us, but we can read the play and understand it, and communicate it to the Australia people and take whatever responsive action we need to take. “That’s what we need to be really good at not just growing and mining stuff and being able to do the deals through Austrade. We are already good

at that, and I assume we’re going to continue to do that into the future. It’s this geopolitical trade, and capacity to block access to our trade that concerns me. That’s where, well, maybe we need to be a little more aware,” says Bernard. “I think we’re just coming to terms with the effect that China now has on us, over us. The trading power that it has, or the influence that it could exert if, for whatever reason, it decided to buy its gas or coal or iron ore somewhere else; the impact on the Australia economy would be devastating. Not that they’re suggesting they would, but...”


Another hot topic when looking to the future is that of the skill sets we, our employees and our children will require. When we look at broking as an industry, we have seen incredible advancements in technology over the past 25 years, and the speed of evolution is only increasing. Where once our greatest tools of the trade were a pen and a fax machine, we now have software and systems that have broadened our reach, expanded our customer bases and given us unprecedented potential to grow. “The general attributes you will need are to be flexible and fluid and agreeable and changeable,” says Bernard. “You will need to be able to take your skills and apply them in different ways; you need to think beyond the square. It’s having that right attitude, and it’s that attitude and flexibility and fit-in-ability. “Fit-in-ability – that’s the skillset. You don’t learn that at university, you don’t necessarily learn it in the workplace, I think you learn it at home. Part of that is being taught that you are not special. No one’s special; everyone has to work, everyone has to adapt. “You could argue that eventually all the science, technology, engineering, mathematics (STEM) is going to be done by artificial intelligence and machines in the future,” says Bernard. “What can machines not do? They can’t write a symphony or care for people, so the jobs of the future may well be, some people say STEM, I’m increasingly thinking caring and creative type jobs will be more highly valued in the future.” With this in mind, the importance of delivering positive, memorable customer experiences remains a focus for the broking industry. Broker Magazine



Unfortunately, many mortgage brokers see fintech as he lending landscape is becoming more and threat to the industry, to- digitise thewhich service more complicated, meaning mortgage brokers to theirlooking business something competitors, and run aasuccessful The lending landscape is becoming propositive that a broker offers their clients. This are facing challenges they’ve never faced before. enhances their offering, allowing business in the current conditions? more and more complicated, couldn’t be furtherthem fromtothe truth.better service to their provide meaning mortgage brokers are Regulatory updates, royal commissions, housing clients,for and grants more It’s simple to work facing challenges never competition There will never beexisting a substitute the value thattime market changesthey’ve and increased all - brokers need to generate new business. smarter, not harder. faced before. a broker offers; the human element can never be impact on the day-to-day operations of a typical replaced. Mortgage brokers should approach fintech mortgage broker. At Wikibroker, wetheir believe our credit we haveas seen Regulatory updates, royal commissions, Over the past few years, solutions a support function to business – policy search platform will emergence of fintech platforms, housing marketmanaging changes and increased In between existing clients,the running a something which enhances their offering, greatly enhancebetter any brokerage in Australia. are designed toallowing utilise thethem to provide competition all impact on thenew day-tobusiness and generating leads, awhich mortgage service to their With just a few keystrokes, any efficiencies technology day operations a typical mortgage broker is alsoofexpected to be up to date with allthat modern existing clients, and grants more time to generate mortgage broker can search thousands offers, and streamline new time-consuming broker. credit policy changes and lending requirements business. of credit policy documents instantly, processes. with every accredited lender. saving time money. In between managing existing clients, At Wikibroker, we believe ourand credit policy search This isafast becoming an unrealistic expectation. Unfortunately, many mortgage running business and generating platform will greatly enhance any brokerage in longer does a mortgage broker brokers fintech as Australia. a threat to With the justNo new a mortgage is also a few keystrokes, any mortgage So,leads, how do modern broker mortgage brokers keep see on top have to manually search lender credit industry, looking to digitise the service expected to be up to date with all broker can search thousands of credit policy of industry changes, set themselves apart from their policies, or wait for a lender BDM propositive that a broker offers their credit policy changes and lending documents instantly, saving time and money. competitors, and run a successful business in the clients. to return their call. The results are requirements with every accredited current conditions? No longer does a mortgage to manually instaneous,broker and thehave benefits longlender. search lender credit policies, or wait for a lender BDM lasting. This couldn’t It’s simple – brokers need to work smarter, not be further from the truth. to return their call. The results are instaneous, and harder. This is fast becoming an unrealistic the benefits Interested in learning more about There will never be a substitute for long-lasting. expectation. Over the past few years, we have seen the how wikibroker can help enhance the value that a broker offers - the Interested in learning about how wikibroker emergence of fintech platforms, are designed yourmore business? Please visit human element can never be replaced. So, how do modern mortgage brokerswhich can help enhance your business? Please to utilise the efficiencies that modern technology todayvisit or click the Mortgage brokers should approach keep on top of industry changes, today below. or click the banner below. offers, and streamline processes. banner fintech solutions as a support function set themselves apart from time-consuming their

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How to make sales

without dropping your price I

magine for a moment that you sell aspirin for a living, door-to-door. Your total income is a function of how much aspirin you sell as you travel around. I suggest that you are much more likely to make a sale when the person you’re selling to has a headache than when they don’t. Fair assumption? I think so. So what if you call on me and I don’t have a headache?

by Martin Grunstein

Martin Grunstein’s outstanding results with over 500 Australian companies across over 100 industries has made him this country’s most in-demand speaker on customer service. He is contactable on 0414 933 249 or through his website

I reckon you have two options. First option: reduce the price of your aspirin till it’s so cheap I can’t resist, or second option: keep talking till I get a headache! Too often in business when we call on prospective clients and they tell us they don’t have the need for our services or they are happy with their current provider, we drop the price to make the offer more enticing and at the same time we reduce our margins (which the prospect doesn’t care about anyway – that’s our problem). I say, don’t drop prices, give them a headache! But how do we give them a headache? Easy. Tell them all the things your clients get from you as part of the offer and ask them to ensure they are getting all these things from their current supplier.


Broker Magazine

Tell them of the range of insurances you offer; how you keep up to date with all legislation changes so they don’t have to worry about that; how you will do business with them at their office and at a time to suit them; that you give back to the local community; that you have testimonials from satisfied clients talking about how good your service is; tell them if you don‘t return their phone calls within three business hours, you will deduct $100 from your fees; tell them you run seminars for your clients to help them improve their business and they may be able to network and sell their services to your other clients. Telling them all these things, and hopefully a few others, might remind them that their current insurer/broker doesn’t do very much for them at all and only contacts them at renewal time to take money from them. Maybe you’ve given them a headache. In my own business, as a professional speaker, as well as providing a professional presentation, I offer all my clients 12 months marketing consultancy, free of charge. Part of that consultancy is my undertaking to provide them with articles like this one for their staff or to be used in their newsletter. I want to give clients who have a speaker or trainer turn up for an hour or a day and never hear from them again a big headache.

If you wish to grow your business, don’t wait for the phone to ring or offer huge discounts to get people to give you a go, start giving a few prospective clients a headache – and then sell them an aspirin which is your product or service.

“If you create a big enough headache, they will buy your ‘aspirin’ without you having to discount your price.” People will make their decision on price when they are given nothing else to consider. I challenge you to do a brainstorming session with your people and generate as many value-added services and things your clients get that they don’t pay for that you possibly can.

Then go to your competitors’ clients and tell them all that you offer and say “I just want to make sure you are getting all these things from your current supplier”. After all, you are concerned that the customer makes the best possible decision. If you create a big enough headache, they will buy your ‘aspirin’ without you having to discount your price. And that’s important to your profitability. To take the headache analogy one step further, one of my clients is a pharmaceutical company that launched a drug several years ago that relieved migraines in the majority of cases. A real breakthrough but unfortunately the drug did not immediately receive a government PBS listing and retailed initially for approximately $30 a tablet.

That’s quite an outlay for one tablet; but ironically some of the areas the drug has been most popular is in lower socioeconomic regions. Why? The answer is beautiful and reinforces exactly the points made earlier. How much you’re prepared to pay for a migraine tablet is not a function of your income, it’s a function of how bad the migraine is! When you’re selling products or services, which are essentially solutions to problems, your success is not a function of how much you’re prepared to undercut the opposition; it’s a function of how big a headache you can give a person who is in the market for your ‘aspirin’ or solution.

Broker Magazine



Tom Panos:

If you don’t like change, you’re going to hate extinction


hat does the modern-day broker require to be competitive? How do we tap into our potential to get the most out of each day? How do we build an attraction business, that delivers clients to us? At next month’s 2018 FBAA National Industry Conference, leading real estate coach Tom Panos will take us through the tools and strategies he’s taught thousands of real estate agents, financial, automotive and media professionals to help them succeed in business.


Broker Magazine

Broker Magazine



Corp, assisting with strategy and presenting workshops to industry, a weekly commentator on Sky Business, and an engaging keynote speaker. He also runs an auction house, which sees him auctioneering every Saturday in Sydney.

WHO IS TOM PANOS? Having worked with the top 1% of real estate agents over the past 25 years, sales coach Tom Panos has helped more than 19,000 agents learn what it takes to grow a seven-figure business. What does that have to do with brokers? Well, a proactive sales strategy and a routine that sets you up for success translates brilliantly to broking. In fact, Tom says he currently assists hundreds of brokers who are members of his online training hub Real Estate Gym, which gives members a blueprint and templates to build a successful attraction business. Starting his own real estate agency at just 22 years old, Sydneysider Tom developed a keen sense for sales strategy young. You could say it came naturally to him. As Tom’s sales increased and other agents took notice, companies asked him to share his secrets. That evolved into a fruitful career as real estate coach and trainer, running around 200 sessions each year for real estate, finance, automotive and media professionals. As well as his online training club, aptly named He is an ambassador for News


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Tom’s as well known for his success rate as he is for his colourful language that punctuates the regular videos he posts on social media. It’s all part of his personal brand, which he says is key when designing an attraction business; your personal brand is what makes you stand out from the pack.

HOW CAN A REAL ESTATE COACH HELP BROKERS? “Over the last five years, I’ve spoken to about 9,000 brokers, and interviewed 50 top brokers across Australia,” says Tom, who has used those conversations to determine which critical habits and characteristics are consistent in top performers. Tom will share his insights and proven strategies at the FBAA National Industry Conference next month (November 16). In brief, Tom will discuss how you as a broker can 1) get more appointments, 2) convert those opportunities, 3) create a referralbased business, and 4) use digital and social media to become an attraction business. Consumers want the “Google of their business” says Tom. In fact, he says they’re dying for it. “The

average consumer that goes to Google gets more confused, because there is just too much information. What consumers want, is someone that makes it easy for them,” he says. “The consumers that brokers are working with today are time-poor, they’re social media savvy, they’re highly educated and know the price of products and interest rates, but they don’t have the expertise to be able to work out the lifelong value of a product for them. That’s where I reckon a great broker, who makes the decision to go pro and move from ‘salesperson’ to become a trusted advisor, has a golden opportunity to be in the top 1% of their field.”

STRATEGIES FOR BROKERS Just how do we do it? “You time travel,” says Tom. “You move forward two years and say, ‘what do I want my business and life to look like in two years?’ You find someone who has the results you want and you look at what they’re doing. What are their prospecting methods? What is their service level to clients? What is their social media strategy? What words and the scripts and dialogue are they using talking to clients?” From this, you create your version, implement it, and create a process. “Process trumps motivation any day of the week. You can be super motivated, but if you don’t run a process-driven life you might actually just be a motivated idiot. You know, you might just be motivated doing the wrong stuff.”

“You can be super motivated, but if you don’t run a process-driven life you might actually just be a motivated idiot.”

Broker Magazine



It’s the processes around you that free you up to do what matters, like develop your personal brand. Tom’s hot tip: “Video allows you to begin a relationship with a consumer before they even meet you. There are no more blind dates in business, right?”

OBSTACLES What’s holding us back? Mooring lines, says Tom; metaphors for the bad habits and excuses we give ourselves not to succeed. “I’m too new” and “I don’t have the money to market myself” are classics. “If you’re too new, when won’t you be new?” queries Tom. As for bad habits, Tom says restructuring your day to succeed is simple, but highly effective. “One broker I worked with, we replaced his morning ritual with: exercise, write a to-do list, make 10 calls before 10am. That ritual of 10 calls before 10am was able to get this broker to meet so many new prospective clients that within 90 days he basically had three appointments per day in his diary,” says Tom. “One of the real secrets in changing your direction in your life, is to actually accept that ‘I’m lost’,” says Tom. “If you don’t think you’re lost, you’ll just keep going as you were. “Yes, brokers are working in a world that is in absolute turmoil – there is turbulence with government legislation, with inquiries into the industry – but we also know that success is an inside job.”

EXHIBIT A Tom used his methods to turn his own life around, with great success and is now what he refers to as “a member of the 5am club”. He wakes each morning at 5am and exercises which he acknowledges has created a positive ripple in his life. “I’ve had good luck and bad luck in life,” he says. “The good luck is that 48

Broker Magazine

I ended up working in a job that I loved, and that I’m reasonably good at. The ultimate result of that is if you’re good at it and you like it, you’re going to probably work long hours and make a lot of money. By the age of 40, work for me became an option and that’s a great way to live because that’s

Those three new daily habits had a profound impact on Tom’s life, and he’s used these with his Real Estate Gym clients to great success. “I call these ‘push goals’ because you do them, but they impact other areas of your life.

new tactics and strategies to implement in their business, then on Monday they’ll go into work with a new zest, a new intensity, a new focus. As the week goes on, complacency will creep in, the emotional intensity you had on Friday at the conference will reduce, and by the end of that

“Yes, brokers are working in a world that is in absolute turmoil – there is turbulence with government legislation, with inquiries into the industry – but we also know that success is an inside job.” – TOM PANOS when you make passion your pay check, right? “I’ve also had bad luck, which is that I’ve had cancer three times. One thing cancer teaches you, is to accept your mortality. In many ways cancer’s a gift that’s been badly wrapped because actually accepting your mortality allows you to understand there’s not an endless number of tomorrows.” The first time he was diagnosed with lymphatic cancer, aged 38, Tom says it took about six months before he decided to change his life for the better. He took pen to paper and wrote a game plan for his new life. The key changes were: identify and slowly reduce contact with negative people (energy suckers, versus energy enhancers); change three habits in his daily life (join the 5am club, exercise daily and make 10 calls before 10am); create an ‘attitude of gratitude’ list to help him reframe his mind to focus on the good things. (“People that have an attitude of gratitude, are generally happier people; I’ve never seen anyone have a positive life with a negative mind.”)

“For instance, daily exercise – you end up having more energy, more energy helps you create more appointments, more appointments help you create more deals, more deals equal more money. What actually happens is the one simple thing has a profound impact; it’s like throwing a pebble in a pond.” Tom emphasises here that change isn’t easy, even if it is simple. “You’ve got to play the long game – and that means don’t overestimate what you’ll achieve in 30 days or underestimate what you’ll achieve in 12 months.”

CHANGE DEMANDS COMMITMENT It’s one thing to be inspired by a presentation you see it a conference, and it’s another to effectively implement change. Unfortunately, the ease and comfort of the old often wins. “The days after a conference are important, but the days after the days after are even more important,” emphasises Tom. “People are going to leave [the conference] super charged, super excited with some great

week you’ll revert back to old habits. “You need to factor in 21 days of being uncomfortable. We know the first seven days in change are hard, the next seven days are still messy but a little easier, then in the last seven days it starts to become a bit of a brain tattoo.” The truth is, the anatomy of a broker has changed over the years – it would be concerning if it hadn’t. “The consumer brokers deal with today is far more educated and sophisticated, so you can’t wing it anymore,” says Tom. “Also, the speed of change can’t be denied. When a broker says, ‘hey I just do it this way, it’s me, I like it this way, I’m okay this way, I don’t like change’. My response is, ‘if you don’t like change you’re going to hate extinction’.” Tom Panos will speak at the FBAA National Industry Conference on November 16, at the Gold Coast. You can join Tom’s 34,000+ followers on Facebook by searching

Broker Magazine


Paying for the role vs paying for the person focusing on paying the person and not paying the role is one. By creating your offer with areas of flexibility, you can cast a wider net and tailor your offer in order to attract the right type of person. By Zak Wilford Specialist Recruiter working with Mortgage Brokers

I often discuss the importance of finding the right type of person when hiring. The reason this is important, is to ensure all employees are a cultural fit and share the same vision for the business. Within the mortgage broking industry, recruiting can be tricky. In such a talent-short market, recruiting and retaining talent is a challenge. Finding the right type of person with the right type of experience looking for a role is a problem more and more groups are facing as a result – but there are ways to combat this and


Broker Magazine

“By making your offer more flexible you’re going to be able to cast a wider net which is key to success.” By creating an offer that includes room for negotiating you create the opportunity to meet the needs and motivations of potential candidates something that is hugely advantageous when securing and retaining top talent. It’s a much more considered approach and with the current landscape within broking, it’s essential in order to compete for top talent. The alternative is a short-sighted pay-for-the-role mentality; something usually utilised by

call centres that are trying to fill high-volume, low-skill roles. They pay award rates and focus less on the type of person and more on getting bums on seats. For a broker business to adopt this strategy is extremely limiting. It makes an already small pool of candidates even smaller, it limits success and increases the time to fill the role. In turn, employee turnover is likely to increase as a result of a bland offer that doesn’t align with their motivations and ambitions. As more groups compete to hire experienced loan processors, it’s important for businesses to recognise this competition and identify the areas in which they can enhance their offer. It’s not always about money though; greater flexibility and working from home are other compromises that are attractive to potential candidates.

Broker Magazine



Debt Settlements vs Debt Agreements Let’s take a look at DEBT AGREEMENTS

By John Dickinson DebtX


e are often asked what the difference is between a debt settlement and a debt agreement. As there seems to be a lot of misunderstanding around this I thought I would set the record straight.

In short, a debt settlement is typically an informal agreement between a borrower and a creditor to settle a debt for a reduced amount in a lump sum payment. A debt agreement usually refers to a formal arrangement for a percentage of a debt to be paid off over a period of time, via an administrator.


Broker Magazine

Usually referred to as a Part IX, a debt agreement is a formal insolvency and, despite how nicely some companies tie a bow around them, they are an act of bankruptcy. I’m not pointing this fact out to be negative or scare anyone, I only mention it as there are some companies that are very fast to enter people into these arrangements when it may not be in their best interests. Words like, ‘insolvency’ and ‘bankruptcy’ are often left out of the sales pitch and it’s not until it’s too late that people know the full extent of what they have signed up for. Once entered into such an arrangement, there’s no going back. Of course, in some situations a Part IX is an appropriate solution for a person in financial trouble, just not every time. Some of the benefits of a Part IX are: • Interest is frozen • Legal action must stop or cannot commence • An affordable repayment plan can be set • The borrower will be released from the debts once the agreement is finished.

Some of the not so good stuff includes: • The borrower’s credit rating will be seriously impacted • A record will be held on the Personal Insolvency Index • During the Part IX term, obtaining credit will be very difficult/impossible. There are qualifying criteria to be eligible for a Part IX such as income and asset ratios. Secured loans such as homes and vehicles typically cannot be included in a debt agreement. Most people who enter a Part IX are doing so as they are insolvent and cannot keep up with their debts, and it enables them to protect assets from their creditors.

“…the borrower can often save thousands of dollars and protect their credit file at the same time, so they can live to fight another day.” Now onto DEBT SETTLEMENTS This usually refers to an agreement to settle a debt, given a lump sum payment can be made. Such agreements are typically informal and are offered directly from the creditor to the borrower. There are serval positives with a debt settlement, one of the main ones being the borrowers credit file can often be preserved, not to mention

the borrower can often save manythousands of dollars. While it is a little-known fact, banks and other creditors will often agree to settle an account for less and forgive the balance. Why would they agree to this, I hear you ask? The fact is, unsecured debt such as credit cards and personal loans produce tremendous income for a credit provider; after all, where else could they generate up to 18% return? The trouble is, once lent, these accounts are not secured by anything so when they go wrong it can be a big problem for the creditor as well as the borrower.

While a credit provider can jump up and down demanding payment, this does little if the borrower can’t pay what is owed. The reality is that if the debt remains unresolved it will most likely be passed to a collection company for a small percentage of the amount outstanding, not a great outcome for the creditor. Trust me when I say that if a correctly structured settlement proposal is presented to a creditor, and points out the reasons why it would be in their best interest to accept a reduced amount now rather than most likely get even less later, they will seriously consider it and often accept the proposal.

One of the great things about a debt settlement is the borrower can often save thousands of dollars and protect their credit file at the same time, so they can live to fight another day. Regardless of what direction a borrower decides to move towards, the most important thing is for them to do their homework so they fully understand the process, how it will affect them and to be sure they are dealing with an experienced and ethical company.

Find the treasure hidden within your database Start building a new trail income now

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Change YOUR Mindset, Change YOUR Income Whether you’re a new or veteran broker, your success in business is determined by how you think and the habits that you’ve created for yourself. What really sets the most successful brokers in the industry apart from their peers isn’t what you might think it is.


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Change Your Mindset, Change Your Income Mindset. It’s a word often used by brokers, but the truth is most people aren’t aware of how important this little word and the meaning behind it is for not only achieving positive results in your business but also in gaining fulfilment in your personal life too.

By Niik Stewart

Head Coach, Niik Stewart Empowerment

“…you are only going to be as successful as your mental programming will allow you to be.”


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As an expert mindset coach, speaker and trainer over the last 18 years I’ve worked with not only thousands of mortgage and finance brokers from every major continent around the world, but I’ve also worked with and coached superstar clients from Sting to Kendrick Lamar to Usain Bolt. What I’ve seen set the men and women who succeed in the mortgage and finance industry and outside of it apart from everyone else is not intelligence, but attitude. Knowledge really isn’t power unless it’s consistently applied and used in an organised manner. So how do you go from knowing what you need to do to actually doing more of what you already know how to do on a daily basis and getting the results you really want? That’s the million-dollar question and I’m going to answer it for you right now. It’s complacency that tends to kill the momentum and success of most businesses. In contrast, becoming more positive in attitude and actions can dramatically help you take more action and to achieve your best and most successful year as a broker ever.

But first you’ve got to understand the basics of what helps people to succeed. To take more of the right actions, one thing must happen. You’ve got to get your mindset right first.

“Successful people d people don’t fe Human beings are designed to go after things. If you know exactly what you want and you have some specific goals in mind and written down then you’re half-way there. But most people don’t and studies have shown that less than 3% of people actually write out their goals; that means 97% don’t. So, the first key to creating a positive and successful mindset, which will help you with any life and business achievement, is having a goal and a desire. The second key that’s important to understand is that you are only going to be as successful as your mental programming will allow you to be. I’m talking about how you are conditioned to think. I’ve seen brokers go from struggling to becoming absolute superstars within 30 days by going through a 4-week mindset coaching program. That might sound like an exaggeration but you’d be surprised what a written list of goals combined with an action plan can and will do for your psyche.

Scientists and psychologists say that “we each become what we think about and focus on the most.” So, change your focus and your mind changes what it points you towards acting on.

do what unsuccessful eel like doing.” That’s not just some positive thinking mumbo jumbo, it’s a fact that whatever we pay attention to the most often becomes our own personal viewpoint of reality. I’ve met brokers who were doing well in a challenging market and asked them what their secret was. Do you know what they told me? “Niik, I finally realised that it all comes down to my attitude and how I choose to see the opportunities and challenges in my business. If I look at the positives then the negatives don’t seem to matter as much. My mindset effects my results 100% of the time.” I’ve always believed that life is 10% what happens to us and 90% how we each respond to what happens to us that matters the most. If you want to ramp up your income, your business and your life then you’ve got to realise that it’s ‘how you think each day’ that matters the most. Once you do, you’ll be more aware of just what positive or negative ideas you are allowing into your mind and entertaining.

Positive and successful brokers always seem to associate with other positive and successful brokers. They go to more seminars and they read more books than the majority of brokers. They get coaching to keep themselves on track for success and accountable for their actions.

your results will begin to steadily improve too. Success is a mindset and it’s also very simple too. It just takes commitment and dedication from you to achieve your goals.

Are you doing these things? If not, you can start, because success is really all about mental preparation. Successful people do what unsuccessful people don’t feel like doing.

For over 18 years, Niik Stewart, considered Australia’s #1 mindset coach, has been coaching, training and speaking to thousands of sales companies, salespeople, professional athletes and sports teams on the strategies of high-performance, motivation and mindset. He helps companies and teams win.

If you want to succeed, copy the attitudes, disciplines and habits of the brokers who are the most successful and you’ll notice that

For any inquiries on Niik Stewart’s mindset coaching, speaking and training services please email:

Broker Magazine


What lies ahead:

the future of broking I

n many ways, brokers are barometers for the economy. The more active the broking industry is, the more active and robust our economy is overall. Currently, our industry is experiencing a period of change. What makes our industry strong, however, is how we respond to that change. We asked industry commentator and pioneer of the Australian and NZ mortgage markets Kym Dalton to share his insights into what lies ahead for brokers.


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“Robo-broking’ will no doubt appeal to a proportion of the applicant population, however there’s a world of difference between research, shopping and the eventual acquisition decision.” – Kym Dalton As to the future of brokers and broking. Firstly, I believe that the word ‘broker’ itself needs to be revisited for the future. Brokers don’t, and certainly won’t in the future, primarily ‘negotiate deals’ between applicants and lenders. The profession of broking will genuinely evolve toward the primary activity of providing ‘credit advice’.

By Kym Dalton,

There’s much commentary about ‘digital disruption’ and how this will decrease the relevance of what I call the ‘warm blooded’ finance and mortgage broker.

As someone who has been involved with the finance and mortgage broking industry since the late 1980s, it’s been fascinating experience observing the transformation of what was a fairly rough and ready industry to one that is a genuine profession.

“Yet millennials will comprise an increasing proportion of applicants,” I hear many say, “and they’re digitally native, meaning that they’ll conduct their loan shopping online.” I disagree.

COO Australian Mortgage Marketplace and industry veteran

I’ve been a supporter of the broker channel as a securitisation pioneer and CEO of Australian Mortgage Securities for all of the 1990s and into the early years of this century, however I must admit that I wouldn’t have predicted that the channel would achieve market share of new residential loan settlements of in excess of 55%. This is a testament to the power of the broker proposition.

‘Robo-broking’ will no doubt appeal to a proportion of the applicant population, however there’s a world of difference between research, shopping and the eventual acquisition decision. ‘Diginality’ isn’t a function of age. Whether a millennial, or a person of any age, is a digital visitor or a digital resident, most won’t have digital wisdom when it comes to a home loan decision. The process will remain daunting and, in my

opinion, genuine credit advice will continue to be sought when it comes down to the acquisition decision. This advice will continue to be provided by a ‘warm blooded’ credit advisor, for most. Methods of engagement will be influenced by technological capabilities and adoption however. Marketing strategies, efficient communications, identification, verification, document signing, and effective education will all be increasingly conducted in a digital and remote environment. Digital dexterity will be necessity for the industry into the future. Lenders are experiencing a crisis of trust in the PTE (post trust era). By embracing transparency and the highest standards of professional conduct, credit advisors (brokers) will be a beneficiary of this phenomenon by acting as an applicant’s trusted advisor. The future isn’t what it used to be but it remains very bright.

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EDITORIAL Young companies, aged two to five years old, are most at risk from late payments and non-payments. Finally, Australian businesses are increasingly reluctant to use property as collateral because they do not want to assume unnecessary risk. By learning what invoice financing has to offer and sharing this with their clients, finance brokers can help address these concerns in a way that benefits all parties.

What is invoice finance? Invoice financing, also called cash flow financing or factoring, is the umbrella term for lending that is backed by a company’s expected cash flows, determined by the value of outstanding customer invoices for work done or goods sold.


The Australian experience

Managing Director, Australian Invoice Finance


he invoice financing industry has grown rapidly in recent years and now provides a significant opportunity for savvy finance brokers to earn additional revenue from Australia’s more than 2,000,000 Small and Medium Enterprises (SMEs). There are other compelling reasons why finance brokers should consider invoice finance as a lending option for their business clients, beyond just getting a slice of this growing pie. The major banks have tightened their lending terms and conditions and many businesses are finding it more difficult to access loans through traditional channels.


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It is a simple and effective way for SMEs to smooth out cash flow troughs. Benefits include 24hour approval and quick access to funds, lending up to 85% of the value of outstanding invoices and the fact that property is not required as a security. The remaining 15% of the invoice value, less a fee, is paid when the client is paid by their debtors.

Secondly, SMEs continue to encounter cash flow shortages, which significantly impact their operations and growth opportunities. According to the Dun & Bradstreet late payments survey results for Q1 2018, only 69% of Australian businesses are paid on time, representing around $28 billion of outstanding debt. The survey also revealed that the average late payment for Australian businesses is 11.7 days, which can leave SMEs struggling to meet tax obligations and staff salary and supplier payments while wasting resources chasing outstanding invoices. In extreme cases, late payments can threaten the survival of a business.

The Australian invoice finance industry is small by international standards but growing rapidly. Research by challenger brand Australian Invoice Finance shows country-wide invoice financing volumes are equivalent to 3.9% of Australia’s GDP compared to 19% in the UK. Dun & Bradstreet revealed the ACT had the longest average late payment time in the nation for Q1 2018, at 14 days. This was attributed to the territory’s economy being dominated by the government sector, which has been historically slower to pay suppliers than other sectors. New South Wales, Victorian and WA businesses experienced an

average late payment time of 12 days with Queensland, SA and NT averaging 11 days. Tasmania was the best performing state with an average late payment period of just nine days, reflecting improved economic conditions.

“…only 69% of Australian businesses are paid on time, representing around $28 billion of outstanding debt.” In terms of sectors, the retail industry had the highest exposure to late payments with an average late payment time of 16 days. The utilities and mining industries closely followed at 15 days while the manufacturing industry recorded an average of 14 days. Agriculture and forestry were the best performing industries with late payments averaging eight days.

What is the invoice finance opportunity for brokers? Cash flow management is a perennial problem for small businesses, providing considerable opportunity for finance brokers to diversify their income streams through invoice financing. Finance brokers have control over the extent they are involved with each transaction, placing them at the centre of the debtor finance supply chain. Remuneration for brokers includes desirable upfront and trailing commissions for the life of each deal. When a broker refers a business to an invoice finance provider, it is assessed on book debts rather than valuations and cash flow projections.

These include manufacturers, labour hire providers, logistics and transport operators, as well as wholesalers. Sectors where milestone payments are most common, such as IT or construction, are also likely to appreciate cash flow finance solution ideas. The key trigger for invoice finance is any shortfall in business cash flow. There are a number of warning signs such as rapid sales growth, difficulties meeting creditor payments and statutory obligations, seasonal fluctuations in demand and blowouts in debt costs. While candidates for invoice finance are generally those looking to enhance cash flow, invoice financing is increasingly being used for non-traditional purposes, such as mergers and acquisitions, the sale of a business, shareholder disputes and even divorce situations.

DON’T MISS OUT on business growth

Any business selling goods or services to other businesses on credit terms (e.g. 30 days to pay from the invoice date) are invoice finance prospects.

Broker Magazine


Someone in your team has experienced domestic violence

by Natasha Hawker

Employee Matters Pty Ltd


ne of our clients had a female employee who was violently assaulted by her partner. It wasn’t the first time and, sadly, it wasn’t the last time either. Our client provided paid time off, and this was before the introduction of Domestic Violence Leave; and a colleague offered alternative accomodation, at significant personal risk to herself. We also recommended that they offer an Employee Assistance Program to provide counselling support and, furthermore, access to additional support for victims of Domestic Violence. This was because the client was not a trained counsellor or psychologist, but did desperately want to help with the employee’s physical and emotional wellbeing. Unfortunately, in this incident, the employee returned to her partner and left her employer.


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The statistics are confronting: •

One in three Australian women have experienced physical or sexual violence by someone known to them. One in five Australian women have experienced sexual harassment in the workplace.

On average, one Australian women is killed each week by her current or former partner.

In Australia, one in four children is exposed to Domestic Violence.

Domestic Violence is a very complex issue, which requires a multi-faceted strategy across all levels of our society.

Victims often return to their partners because they feel they have no alternative. Fair Work has legislated that all Australian employees can now access Domestic Violence Leave, which consists of up to five unpaid days of leave, per year. Employees can take the leave if they need to deal with the impacts of Domestic Violence and it is not practical for them to do this outside of their usual hours of work. The leave can be taken as single or multiple days. The evidence, that might be requested, could be court or police documents. The definition of family and domestic violence is: Violent, threatening or other abusive behaviour by an employee’s family


member that either seeks to coerce or control the employee and/or causes them harm or fear. It’s also important that business owners and managers, seek to manage these situations sensitively, and confidentially in a business, with a ‘need to know’ only approach. If you would like assistance with introducing a Domestic Violence Policy in your business, setting up an Employee Assistance Program, or even accessing our Hire to Fire Tool Kit for all the policies that you might need, contact au or (02) 8021 4206 and remember, your employees really do matter.

THE HIRE TO FIRE TOOL KIT Hire the best employees

Fire non-performers

Manage difficult employees

Maximise profitability

Over 120 legally compliant policies, procedures and guides





The latest in HR news and legislation





Access to our Members Only Educational Video Series





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EDUCATING for CHANGE The FBAA’s recent ‘Member Satisfaction Survey’ identified that you, our members, want additional educational opportunities. To satisfy this need, the FBAA is continuing to improve or update our platforms to assist with business growth and your overall wellbeing as brokers. Our recent survey also revealed that you, our members, recognise our events as the most suitable entity to continue the education process. We look forward to rounding out 2018 with more member-focused events. If you have recently reviewed the FBAA events list or attended one of the FBAA Summits, you would have recognised some changes and improvements, not only with the number of events that are occurring and venues chosen, but there has been a greater focus on education. The topics being presented at these events have been developed to assist new and veteran brokers to better understand their target audience, create additional and ongoing opportunities, as well as understand and manage the constant change that is occurring in industry.

“We as an industry need to continually embrace education and business growth through enhancement opportunities.” – PETER WHITE, EXECUTIVE DIRECTOR FBAA One of the major educational presentations that is occurring includes 7 Colored Doors’ seminar relating to customer behaviour and ability to identify the best approach to doing business with different personalities. David Bayne, Business Coach and 7 Colored Doors CEO, shares his knowledge about the best ways to identify behaviour traits and personalities of current and potential clients, ensuring you are communicating

with your audience in an appropriate manner to get the best outcomes for your business. The FBAA has also recently established a relationship with Chifley Securities, whose team of presenters are sharing their knowledge in relation to commercial lending. Peter White, FBAA’s Executive Director, is very aware of industry requirements and the importance of maintaining high educational standards of our members and of those working in the broking sector. “We have proven through various pieces of research that our members are consistently doing the right things by their clients and providing a high level of service,” says Peter. “We also realise as an industry that there is nothing so constant as change; and as the leading industry association in Australia, we need to ensure that our members are continually informed about the changes occurring in the market place, as well as the best approaches to take in relation to improving their businesses. “One major factor in ensuring that this occurs is through education and business coaching, and we will continue to provide our members with this best-practice support. “We as an industry need to continually embrace education and business growth through enhancement opportunities.” financials for the SME market, and leasing opportunities and what to look for. Businesses presenting at this forum include: St George, Suncorp, Vow Financial, FBAA, Core Logic, Macquarie, and Think Tank. Further information will be communicated to members via the FBAA newsletter, website and email invitation and notifications over the coming weeks.


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The next


top events

For updates regarding FBAA events, and terms and conditions, please review the FBAA website.

For FBAA event enquiries, contact:


Sydney FBAA Summit Tuesday 23rd October


Wollongong FBAA Summit Wednesday 24th October


Webinar (Industry Update) Thursday 25th October


Bunburry FBAA Summit Tuesday 30th October


Perth FBAA Summit Wednesday 31st October


FBAA National Industry Conference Friday 16th November


Gala Dinner & Awards of Supremacy Friday 16th November

Note: Events for 2019 will be published in the next edition of Broker Magazine. The FBAA events schedule is subject to change.

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Queensland & Northern Territory - State President

New South Wales & ACT - State President

Liberty Network Services Mobile: 0434 338 584 Email:

Managing Director Grow Capital Mobile: 0423 001 002 Email:


Victoria & Tasmania - State President

Western Australia - State President

State Manager VIC/TAS Outsource Financial Mobile: 0478 040 714 Email:

Mobile: 0448 773 310 Email:

South Australia - State President Director Finance Opportunities Mobile: 0419 820 149 Email:

Broker Magazine


Brendon KURTZ



Christine GREEN

Would you like more information on an FBAA event or PD Day thats happening in your local area? Maybe you have some feedback or an issue you would like to discuss? Finance Brokers Association of Australia Street: Level 1, 116 Ipswich Road, Wooloongabba Qld 4120 Post: PO Box 234, Stones Corner Qld 4120 Phone: (07) 3847 8119 Email: Web:

FBAA MEMBERS RECEIVE EXCLUSIVE OFFERS WITH MINI CORPORATE. BENEFITS TO KEEP YOU MOVING. Now that MINI is a proud partner of FBAA, as a member you can enjoy exclusive benefits giving you the opportunity to drive away the MINI of your dreams. As a limited exclusive for FBAA members, if you purchase your new MINI before 31st of December 2018, you’ll receive a $1,000 bonus and complimentary MINI Service Inclusive Basic for 10 years/100,000kms.*



You and your spouse will also have access to MINI Corporate benefits such as, MINI Roadside Assistance, competitive financing options, access to BMW Group Genius, and complementary use of a MINI during scheduled servicing, to name just a few. To find out more about how FBAA is helping you start an exciting journey with your MINI, visit or contact the Corporate Sales team at your preferred MINI Garage.

Offers apply to new MINI vehicles ordered between 01.10.2018 and 31.12.2018 and delivered by 31.12.2018 at participating authorised MINI Garages by FBAA members or their spouse. While stocks last and cannot be combined with any other offer. Excludes fleet, government and rental buyers. Unless excluded, this offer may be used in conjunction with other applicable offers during the promotion period. ^Bonus discount amount includes GST and is applied once to reduce the driveaway price of the vehicle purchased and may not otherwise be redeemable for cash and is not negotiable or transferable. *Benefits apply to the purchase of a new MINI vehicle and only to the vehicle purchased. Complimentary basic scheduled servicing of 10 years / 100,000kms including Vehicle Check, is valid from date of first registration and is based on MINI Condition Based Servicing, as appropriate. Normal wear and tear items and other exclusions apply. Servicing must be conducted by an authorised MINI Garage dealer in Australia. Subject to eligibility. Terms, conditions, exclusions and other limitations apply.


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Tony Carter

Stanley Millar

Chris Szigeti

Cert IV FS (FMB), Graduate Management Qualification (GMQ) – UWA


AFB, Cert IV FS (FMB), Dip (ML) Sec

Director, FBAA Life Member Special Responsibilities – Chair of Compliance Committee


Stan Millar has many years of experience in banking and finance. Stan joined ANZ Bank in 1966 and worked in that organisation until 1992, reaching the position of Branch Manager. A founding member of FBAQ which later became FBAA, he was elected Secretary early in the Association’s history and has held the position almost continuously ever since. He was made the first Life Member of the Association in recognition of his service to the Association and its Members.

Chris has been involved in the finance industry since 1975, running his own Mortgage and Finance business, Chris Szigeti & Associates t/as CSA Finance and Mortgages Can Do since He started his finance career with IAC ( Citibank ), then 10 years with AGC, where he held senior managerial roles covering all aspects of Finance. Chris was a founding member of FBAQ in 1992 which evolved into the FBAA. He was Queensland State President (2004-2009), first elected to the Board in 2009 as National Treasurer (2009-11). Chris was admitted to the status of Life Member in 2014 in appreciation of services provided to the Association and Members.

Managing Director Bromac Business Services Pty Ltd Phone: 0408 714 137 Email:

Managing Director Chris Szigeti & Associates Pty Ltd T/as CSA Finance & Mortgages Can Do Phone: (07) 5592 2635 Email:

Director Special Responsibilities Chairman of the Board of Directors

Tony has been involved with the motor and finance industry for over 40 years, the last 20 as Dealer Principal/Director of 3 motor dealerships. He has been engaged with finance since early career days at AGC and was a Licensed Finance Broker in WA from 2004 to 2013 ending as an ACL holder when he resigned from the motor dealership position. Today Tony holds a Credit Rep role under his son’s company Echo Finance and runs his own Vehicle and Finance Brokerage in WA – Brokerage WA. Over the past 20 years Tony has been on three NFP boards – BIZLINK – Chairman, Asthma Foundation WA – Chairman and Asthma Australia – Director.

Principal Broker Brokerage WA Phone: 0418 911 220 Email:

68 68

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Director, FBAA Life Member Special Responsibilities - Vice Chairman and IDR Chairman

John Mulcair

Kim Szigeti


JP (Qual), AFB, Cert IV FS (FMB), Dip

Director, FBAA Life Member Special Responsibilities – Treasurer and CFO


Director Special Responsibilities Company Secretary, Director Policies, State Branches

AFB, Cert IV FS (FMB), B.Com (Prof

John Mulcair has vast experience in banking, finance and accounting spanning more than 50 years. John joined FBAA in 2002, was appointed ACT Representative in 2003, ACT State President in 2005, first appointed to the Board in 2006, National Treasurer 2006-08, Board Consultant 2009-11, then re-appointed to the Board as National Treasurer in 2011. John was admitted to the status of Life Member in 2009 in appreciation of services provided to the Association and members.

Kim Szigeti has vast experience in finance and mortgage broking spanning more than 20 years, and currently holds a Real Estate Licence. Prior to this Kim held various positions in retail and hospitality, as well as volunteer in previous and present positions with community organisations. Kim joined FBAA in 2005, was Secretary of QLD Council 2007-2009, and elected to the Board in 2015.

Rick Nieuwenhoven has vast experience in accounting practice and education, finance, financial planning, property investment, and mortgage broking spanning more than 15 years, and currently is a registered agent of ASIC. Rick joined FBAA in 2012, was SA State President 2013-15, and elected to the Board in 2015.

Director Wilde Mulcair Pty Ltd Mobile: 0416 049 423 Email:

Mortgages Can Do Phone: (07) 5592 2635 Email:

Business Owner Nieuvision Phone: (08) 8263 4009 Email:

Rick Nieuwenhoven Acct), MAICD

Director Special Responsibilities – Member Finance, Audit and Risk Committee

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Stephen Rasmussen

Jan Kirstein

Peter J White

Dip Fin Serv (MBM), Cert IV, FSMP, Dip FP, Com Dec, AFB, MAICD


AFB, Cert IV FS (FMB), B.Com (Prof

Director, FBAA Life Member Special Responsibilities Board Liaison for State Presidents

Acct), MAICD

Director Special Responsibilities­­ Audit & Risk Committee, Chairman- Equity Release/ Reverse Mortgage Committee

Executive Director Special Responsibilities Government, Media and Strategy

Stephen has been involved in the finance and banking industry for more than 40 years, starting with the CBA in a branch environment. Stephen started his own broking business in 1995, essentially as a one-man operation. Stephen was appointed as QLD/NT State President in 2009, and then elected to the Board in 2016

Jan commenced his finance career in 1976 and has worked principally in senior lending and sales roles. Jan joined the broking industry in 1996 and formed his own broking company in 1998. Jan joined FBAA in 2002, was appointed North Queensland representative of the Association in 2002, and has been a Director since 2005. He has held several positions on the board such as National President, Chairman of various committees and has been Chairman of the Board for a number of years. Jan was admitted to the status of Life Member in 2013 in appreciation of services provided to the Association and members.

Peter has vast experience in Banking and Finance spanning over 40 years, which includes his most recent admission onto the advisory board of the Small Business Association of Australia. Peter is highly engaged with Government and Industry Regulators ensuring beneficial outcomes for current & future reviews that are, and will be undertaken. Peter has held FBAA roles of NSW President, National Vice President, National President, Chairman of the Board of Directors and Chief Executive Officer.

Managing Director Tailored Lending Concepts Mobile: 0412 295 875 Email:

Principal Brokir Pty Ltd Phone: (07) 3847 8119 Email:

Phone: 07 3847 8119 Email:


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“It is not the strongest of the species that survives, noR the most intelligent that survives. It is the one that is the most adaptable to change.� Charles Darwin


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