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ISSUE 8.19 October 2011
Grassroots will get greener, says Kane
Steve Kane
MFAA president-
elect seeks renewed member engagement MFAA president-elect and FAST managing director Steve Kane has vowed to focus on renewed grassroots engagement with members as part of the MFAA’s strategy under his leadership. Kane, who was elected in September to replace outgoing president Joe Sirianni at the association’s Annual General Meeting in November, said the first “plank” in his vision for the
peak industry association’s future was increased engagement with its membership. “We need to make sure that the members of the MFAA feel they are getting value for their money, that they feel they belong to an organisation or peak body that is delivering to them a better outcome for their businesses,” he told Australian Broker following his appointment. This commitment comes in addition to a continued push to lift professional standards in the mortgage and finance broking industry through education and training.
‘Adviser’ risk
“We will continue that drive so mortgage brokers become more recognised in the marketplace as professionals and as a professional industry, where people turn to for a trusted advisor,” Kane said. “If we’ve already achieved 40 per cent penetration in the marketplace today around mortgages, as we lift the professionalism and educational standards of the industry, that should enhance the growth opportunity for the whole industry.” As part of the continued professional standards push, Kane has reiterated Joe Sirianni’s recent call for a degree future for brokers – albeit over “a long period of time”. “It is an aspirational goal but one that is worth pursuing,” he said. “As the industry evolves there is no doubt that for all markets there is going to be a need for higher education over time, and the time frame there is the key question; I don’t want anyone to think that within the next six months I’m going to be coming out with a statement saying it’s time to get a degree. That isn’t the case, even if I believe the industry will evolve towards that over time.” The third aspect of the MFAA’s strategy under Kane’s presidency will be to continue to develop stronger and closer relationships with regulators and with government. “It is very important that as a peak body we continue to Page 16 cont.
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Valuation crisis PI shortfall puts downward pressure on valuations Page 6
Inside this issue Analysis Outsourcing for efficiency Investigation Valuations come under fire Viewpoint The power of branding Insight 10 tips from experience Toolkit Getting into SMSFs Market talk Little spring in Spring Caught on camera Vow Financial in Fiji
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