Press Releases

MFAA members elect two Directors

Following a seven-week nomination and election process, MFAA members have elected Rose De Rossi and Melissa Gielnik as MFAA Directors.

The election results were announced at the MFAA Annual General Meeting (AGM) held in Sydney on Wednesday 22 November.

Rose is a Director of Diversifi in Western Australia, where she has been an active MFAA member for a number of years. Melissa Gielnik, who owns and operates Smart Lending in Victoria, was re-elected as an MFAA Director for a second two-year term.


Tips to ‘success’: Steve Milligan, Launch Finance

A state winner from WA for the 2017 MFAA Regional Finance Broker and Residential Finance Broker, as well as a state finalist for the Finance Broker Business Awards (2-5 Loan Writers), Steve Milligan has placed his business, Launch Finance, on a trajectory to success. Here are his tips to success.


Top tips for co-running an event

Brokers seeking to grow their business should look to co-run events with referral partners to engage and inform clients and prospects. It’s a mutually beneficial way to gain brand exposure and new leads. But running successful events requires forethought.

Dylan Salotti, managing director of Divitis Finance, and an MFAA Young Professional, provided the following four tips based on his experience:

Press Releases

Broker market share rises to a record 55.7% in September quarter

Australian finance brokers settled 55.7% of all residential mortgages during the September 2017 quarter, up from 53.6% in the same quarter last year, the latest industry data reveals.


Did you know? Prohibited words

Did you know there is a range of prohibited words you may not use in your advertising and marketing materials - including on your website and on social media - to describe your business, yourself, or the products and services you offer? All brokers need to be aware of these requirements.

Some of these terms and phrases are obvious but others may come as a surprise to you.

The National Consumer Credit Protection Act 2009 (NCCP), the Corporations Act 2001 (CA) and the Banking Act prohibit the use of certain words in advertisements in most circumstances, including…


Have you got a question for ASIC?

MFAA members have been invited to register for a regulator webinar, “Ask ASIC”, ASIC's first webinar on Consumer Credit on 22 November at 12 midday (AEDT).

Senior executives from ASIC’s credit, enforcement, licensing, misconduct and breach assessment, and financial literacy teams will take questions on a live panel, broadcast online.

By participating, you will also earn 1 CPD hour.

The panel will feature:


ASIC initiates consultation on financial data collection

The Australian Securities & Investments Commission (ASIC) has commenced broad industry consultation to determine a process for industry to supply it with regular aggregate and granular financial data to:

• allow the regulator to improve its evidence base to better understand relevant industry sectors
• detect emerging risks
• clearly identify processes
• reduce the incidence of one-off data requests
• drive better consumer outcomes
• share aggregated data with industry


ASIC announces initial Financial Services & Credit Panel members

The Australian Securities & Investments Commission (ASIC) has announced the appointment of a pool of financial services and credit industry sector participants to assist in the formation of its Financial Services and Credit Panel (FSCP).  This follows ASIC’s call for expressions of interest


How to naturally include keywords

As search engine algorithms continue to evolve, so too should your skills in finding ways to get your brand out there.

When it comes to search engine optimisation (SEO), making your website more ‘find-able’ on Google or Bing, keywords lay the foundation for success. But simply repeating the same terms within a blog – known as “keyword stuffing” – is an unreliable way to draw attention.

Search engine algorithms have evolved and become more sophisticated, meaning SEO activity that appears unnatural is actually bad for the Google ranking of your website.


Optimising your website for mobile use

If a potential client finds you by way of a website that isn’t designed for mobile use, they’re likely to just keep on looking elsewhere. So how mobile-friendly is your online presence?

Nobody wants to visit a business website on their mobile device to find a desktop website miniaturised to within an inch of its life.

As a finance broker, having a mobile-optimised website can make a huge difference to your potential to generate leads – but that doesn’t mean all brokers are accommodating customers who want to engage via their mobile devices.


Government drafts legislation on property GST evasion

In order to improve processes on GST collection in new property transactions, the Australian Government has released draft legislation for consultation.

Press Releases

Growth in finance broker numbers outpaces growth in new lending

The latest Industry Intelligence Service (IIS) Report has revealed that finance brokers continue to facilitate more than one in two (53.6%) of all mortgages written in Australia.


WA broking community pulling together to help a colleague

The broking community in WA is a strong, tight-knit group. Whilst the state currently faces a tough economic climate, brokers in WA have continued to maintain their community spirit.


Government changes competition law

Following a review (the Harper Review) of Australia’s competition legislation and regulation, instigated in 2013, significant changes have been made to the nation’s competition law. The changes are a result of recommendations submitted to government by the Review in 2015. The Government has accepted most of the review’s recommendations and legislation has recently passed to give these changes effect.


How often should you be blogging?

Research shows that more blogging delivers more leads. But where is the sweet spot?

When it comes to inbound marketing – attracting audiences who actually want what you’ve got –blogging is one of the best tactics.

Brokers can benefit from blogs because they:

• Offer a way to share your expertise and build credibility
• Enhance your site’s search engine optimisation (SEO), making it easier to find on the web
• Engage web users seeking to do their own research
• Ensure you have fresh content to be found and to share online.


Selling your broking business – what you need to know

Even as you’re busy building your business, taking a moment to put some succession planning in place can pay huge dividends when it is time to move on.

Selling your finance broking business might not be top of mind when you're flat out developing it. The better prepared you are now, the better your outcome will be - if it ever happens.

PricewaterhouseCoopers’ (PwC) New Zealand arm released a series of exit-focused papers late last year highlighting how many companies’ reactive attitudes to succession planning can compromise the value of their businesses.


Vic Government publishes new FHOG tool

The Victorian State Government has published a new online tool to assist first home owners to determine eligibility for a grant.


How to enhance your Facebook business page for success

Australians use Facebook more than any other social media channel, with most users checking their feed multiple times each day. Are you capitalising on this trend? Making the most of your Facebook business page is essential if you want to boost engagement and traffic, and in turn, leads.

Using Facebook’s features well can increase the strength and consistency of your brand and encourage social fans to take action. Here’s how to get the most from your Facebook presence:

Stay on brand:


Forecast glut of units, less investor activity, according to QBE Housing Outlook Report

According to the latest QBE Australian Housing Outlook 2017-2020, an oversupply of units and reduced bank lending to investors is expected to dampen price growth in the housing market in coming years.

The QBE-commissioned BIS Oxford Economics report analyses historical performance in the residential housing market, based on median prices, and forecasts market movements to 2020.


The merits of a mentor

Partnering with a high-quality mentor through the MFAA Mentoring Program can help take your business to the next level. Here’s what you need to know to begin this all-important business relationship.