Editor's letter: The selfless side of broking

The impact of brokers is not just financial

Some of the standout moments for me over the last month have been conversations with brokers who are really giving the industry a good name and going the extra mile to help others.

The stigma and misconceptions about brokers pushing for higher loans to line their own back pockets, or not doing the right thing for their customers’ best interests, might have been lessened if these brokers had been given a chance to tell their stories.

For instance, I interviewed a broker who has set up an initiative to use his commissions for a positive cause. Other brokers are now on board, and 20% of the upfront and trail commissions received by each of them goes towards helping the homeless.

You can find out more about this on the MPA website, but it’s a great example of how much deeper the layers go than what came out in the royal commission.

Not only that, but MPA spoke to another broker who, after experiencing domestic violence as a child and seeing the all-too-frequent stories in the media today, is raising money through dance events for a women’s refuge that helps women and children escaping such situations.

It was a great example of how much deeper the layers go than what came out in the royal commission

You can read her story on our website too. While it’s not for every broker to set up charities and organise events, it is important to remember that even in your day-to-day jobs you are helping people achieve their dreams and get into their own homes.

To continue to help you do that, we’ve spoken to a lender and aggregator who understand the importance of an ongoing education for brokers, particularly as the lending landscape continues to change.

Whether it be education on diversifying into other areas, learning more about different lender criteria, or getting advice on growing your marketing campaigns, MPA has found out more about the tools available to you, which you can read about in this month’s broker education feature.

Also in this edition we report on our first live-streamed panel of the year, with representatives from the non-major banks. We had some great questions from brokers on topics ranging from the royal commission and remuneration structures to lending practices more generally.

Read on for the full report, but if you would like to watch the whole roundtable session you can find it on MPA’s website.

Rebecca Pike

editor,

MPA