Edition 36

We are jumping for joy.

Hundreds of brokers across the industry shared their perceptions of aggregators and broker groups in The Adviser magazine's Broker Group of Choice Report.

We’re jumping for joy to say Loan Market was voted #1, with a 4.27 out of 5 satisfaction rating #proud. We ranked #1 in five of the categories, find out which areas as Loan Market’s Executive Chairman, Sam White gives you the rundown on the ranking results below.

Cheers to Loan Market and Cellarmasters

When customers use Home Now to source competitively priced connections for electricity, gas, internet and other utilities at their new home, they’ll also be afforded exclusive wine offers – perfect for a house-warming – expert beverage advice and access to events hosted by Cellarmasters, part of the Endeavour Drinks Group.

Some of the beverage offers available to Home Now customers include:

  • major savings on a range of award-winning, exclusive wines;
  • access to ‘Personal Wine Advisors’ who are experts across all varietals, offering tailored suggestions for customers
  • expert support on how to store and cellar wines;
  • access to special events and wine tastings.

Cellarmasters and Home Now will continue to offer exciting products at exclusive value for Loan Market clients.

Fiona James, Head of Partnerships, PR and Events at Cellarmasters, said: “We are very excited about this partnership, and I truly believe Loan Market clients will enjoy the exclusives we offer. Home Now offers a valued service to people when they’re moving. We look forward to a long, great relationship and to exploring more ways of working together in the future”.

Roland Cage, CEO of Home Now, said: “Whether you are renting or buying, a new home is a special moment. Together with Cellarmasters, this partnership allows customers to mark the occasion with a special tipple amongst a range of exclusive offers.

“Home Now and Cellarmasters are specialists in customer service and this partnership further expands our offering to our valued customers.”

How can clients take advantage of this amazing deal?

Buyers, vendors and tenants using Home Now’s revolutionary Check In / Check Out service will receive a unique voucher code to shop online and save.

If you are not with Home Now and want to learn more on how to take advantage of this unique customer experience and the Check In / Check Out Home Now service, email support@loanmarket.com.au 

“Cellarmasters joins a growing list of partnerships that Home Now is proud to offer, all of which adding genuine value to our customer offering. We look forward to sharing more of these offers with our customers, in the future,” said Mr Cage.

Find out how they are targeting victims

Scammers pretending to be from ASIC have been contacting registry customers asking them to pay fees and give personal information to renew their business or company name.

These emails often have a link that provides an invoice with fake payment details or infects your computer with malware if you click the link.

Warning signs the email is not from ASIC

An email is probably a scam and is not from ASIC if it asks you:

  • to make a payment over the phone
  • to make a payment to receive a refund
  • for your credit card or bank details directly by email or phone

How do I protect myself from email scams?

To help protect yourself:

  • keep your anti-virus software up to date
  • be wary of emails that don't address you by name or misspell your details and have unknown attachments
  • don't click any links on a suspicious email

You can also check your registration renewal date; ASIC will only issue a renewal notice 30 days before your renewal date.

You can search for your business name on our register and if it's outside our usual timeframe, it might be a scam.

How do I notify ASIC of a potential scam?

If you would like to notify ASIC of a potential scam email, you can forward the entire email to ReportASICEmailFraud@asic.gov.au

5 ways to easily introduce Concierge into your business

Five of highest referring brokers explain how they successfully implemented Loan Market Concierge into their business. Can you pick up any tips?

“If you use interview packs include Concierge marketing material. It is provided, it’s free and from the first meeting your client knows about them. When the loan becomes unconditional let the client know that you have passed their details onto “your Concierge team” and that they will be in touch to provide a quote. We do this in the unconditional email we send. As soon as you've sent the unconditional email to your client complete the Concierge Referral form straight away. It only takes a few minutes and it really is easy if you make it part of your process. We refer for both purchases and refinances. The transaction type doesn't matter, all clients are referred to Concierge.”
Brett and Tania Richardson, WA

“Make it part of the formal approval process. Note Concierge on the checklist, that way it won't get missed.”
Balpreet Bal, WA

“Bring up Concierge in the first appointment and use the marketing material available to help support you.”
Phil Rogers, QLD

“Offer Concierge once contract of sale is signed as clients are liable from contract date.”
Chris Dobbie, QLD

“We have a checklist on the front of our client's file which we go through when signing loan offer docs with the clients and Concierge is included on this checklist.”
Glenn Crombie, VIC

Did you know?

Loan Market Concierge client services team is a complimentary service available to you as a Loan Market broker. Your clients can take advantage of our full suite of white labeled moving solutions, with discounts and unique offerings on home insurance, home improvement services, tax depreciation, homewares and appliances, removals and pet transport, storage as well as solar power and hot water.

As a broker, you’ll receive commission for warmly referred clients who purchase a home/contents, landlord, tenant/contents insurance policy. Speak to our account managers to find out more.  

How can your clients be referred?

Referral form here which is also on our website www.loanmarket.com.au/concierge
E: concierge@loanmarket.com.au
P: 1800 142 020

Find out how you can win back time

Just 20 percent of the working day is spent on important jobs, while 80 percent is wasted on tasks with little value. Productivity — the art of being efficient at work — can be tricky to achieve, especially with so many distractions: junk mail, noise, meetings, YouTube, stopping and starting on admin tasks. There are several ways you can boost work efficiency, how about starting by outsourcing your admin to the Broker Support Team based in Manila.

Not convinced? Here are five reasons (all starting with C for fun) that you should utilise the Broker Support Team, now!

Cost Efficient - we offer service that are only fraction of the cost compared to other broker assistance services. Our prices are governed by Customer Price Index across Australia.

Competent Support Officers - We have a team of 20 Support Officers who are trained and exposed to Australian Broking businesses daily. We have proficiency in using Loan Market Group’s frontline tools; MyCRM, Symmetry and Apply Online.

Coverage (Support) - We operate 12 hours a day, 5 days a week (except Australian public holidays). This will give you more confidence that you can get assistance even after the normal business hours in Australia.

Compliance Driven - We understand the importance of being compliant, not only for the sake of being compliant during audits but for the duty you have for your business, your customer and the regulator.

Care - We provide genuine care. This is our business - our accountability is endless. This set us apart from others who offers broker assistance. We always make sure to look after one another, and live our Loan Market Group’s core value - Family.

Want to know more? Contact your Broker Support Managers today!

Carla Braga -  (02) 9246 2335

Jenny Juban - (02) 8245 1671

Or email us at brokersupport@loanmarket.com.au

New Panel Lender Schedule available 

There’s a new Panel Lender Schedule ready for you to download, with new lenders, updated commission information and a new commissions calendar so you can stay across when you’ll receive payment.

The Loan Market Commission’s team make payment to brokers three times a month - on or about the 12th, 21st and last business day of the month. The below updated calendar shows which banks fall into these runs.

Download the Panel Lender Schedule today.

This document is available online in MyCRM and Springboard.

Quick points:

  • Please be advised that the Panel Lender Schedule has been updated along with the Lender payment calendar.
  • We recommend that you destroy your earlier version of this manual and replace with the updated version.
  • The credit guide and commissions calculator in MyCRM will be updated shortly to reflect these changes.

Below is a summary of the updates and where to find them in the new Panel Lender Schedule for your convenience:

New Lenders
Page 69 Firstmac Equipment Finance
Page 34, 60, & 70 Judo Capital
Page 73 MoneyPlace
Amended Lenders
Page 12 Bank Australia
Page 19 BankWest
Page 23 BMM
Page 27 CBA
Page 38 Liberty
Page 43 Mortgage Ezy
Page 77 Wisr

New rates calculator look

We have updated the view on the rates calculator on the compare rates and repayments page of your broker rich profile.

This is now displayed in a simple, easy to use format that will allow your customer to compare rates quickly and contact you for more info if needs be.

LMGO Myth buster: “I can’t use LMGO, they don’t offer an offset”

In this first episode of LMGO Myth Buster, resident mystifier Nicole Ferguson heads to Loan Market Go’s head office and asks the team how customers can save interest without an offset account. Watch the 4:30 minute video here

Complete a quick Gmail health check

Gmail is a great enabler of communication allowing us to talk to colleagues and customers on the go. There are also many additional add-ons that can integrate with Gmail to improve our productivity even further. These range from task managers to CRM applications and even fun add-ons that let you easily add pictures from Google in your emails. Over time however we may forget what add-ons have previously been added. When's the last time you checked which applications have access to your Gmail account? Google provides a security dashboard where you can review the security and access settings in your account. The dashboard can be accessed here https://myaccount.google.com/security

There are a few options on this page. We highly recommend you do the following at least every 6 months:

  • Review which applications have access to your account in the Apps with account access section, and remove any apps that you no longer use.
  • Review which apps are configured with app passwords in the Security Checkup section and remove any app passwords that are no longer required.
  • Review which devices are configured with access to your account in the Security Checkup section and remove any devices that no longer require access such as older phones or tablets.
  • Review recent security events in the Security Checkup section to ensure that there has not been any questionable access to your account.
  • Review the 2-Step verification section in the Security Checkup section to ensure your backup codes and phone number is correct.

If you have any concerns on the cyber security of your office or general questions around cyber security please feel free to reach out at cybersecurity@raywhite.com.

Hello. It's me.

You got a sneak peek of the Hello Book at Connect Conference on the Gold Coast and now it’s time share with your new customers.

The Hello Book wraps up your service offering - yep, everything you do and how you do it - into a booklet for your client. The best way to use the Hello Book is by sending it to new clients digitally before an appointment.

It covers: 

  • Why use a Loan Market broker
  • Your professional background
  • Steps to purchase a property
  • Your full service offering including asset finance, protection, connections and financial planning
  • The credit guide

There is an individual and team version available on PrintUI for credit reps and non credit reps. Check it out now on PrintUI now

New Wealth Market Partner Starter Kit available

We've created a Partner Starter Kit to help make Wealth Market work in your business. The kit includes information and links to marketing resources to help you offer financial planning services to your clients.

If you're not already working with a Wealth Market financial adviser and would like to get started, please check out the Partner Starter Kit today.

And remember, email andrew.ash@wealthmarket.com to get your Referral Agreement in place and start earning 15% in referral fees.