Editor's letter: Moving forward together

The industry faces upheaval

The royal commission storm well and truly hit after the final report was released earlier this month, making some big recommendations on broker pay.

We know it’s a scary, confusing and upsetting time, and many of you have been telling us your concerns about your future in the industry.

We have tried to speak to as many commentators and industry groups as possible to talk through some of the changes we might see, and to look at how the industry can move forward.

We’ve spoken to mortgage brokers, and the banks and lenders that rely on them, to find out their thoughts on what the repercussions of changing broker pay will be.

Going beyond the immediate reactions, we’ve been looking at what comes next and what broker groups are doing to represent the industry.

There are advertising campaigns, petitions, and letters to local MPs, and the team at MPA will be following them and supporting you all the way.

So, keep us up to date with everything you’re doing in defence of the industry!

There are advertising campaigns, petitions, and letters to local MPs, and the team at MPA will be following them and supporting you all the way

Moving on to this month’s issue, we had hoped to bring you coverage of our roundtable event with the broker heads of the major banks, which was due to take place last month.

Thanks to the build-up of the royal commission, this will now happen later this year.

Instead, we have a special feature on our roundtable with customer-owned banks, which took place before the final report came out.

We asked them about how they work with brokers and for their thoughts on potential changes to the industry.

Our Big Interview highlights a leading broker from Canada, who will be a keynote speaker at our Broker Business Exchange event in June.

He talked to us about how he used market changes and regulatory reforms over there to create opportunities for himself and his business, providing interesting insights in the context of what’s happening here in our industry.

It’s a time of change for brokers, so take a look at what the industry is saying.

And remember, there are hordes of people out there supporting brokers because they know what fantastic work you do.

Rebecca Pike

editor,

MPA