Edition 21

Link 2017 Wrap Up

Congratulations to all involved with LINK 2017. The programme, which ran throughout October 2017, resulted in a 254% increase in referrals compared to October 2016.

LINK provided the chance to strengthen client relationships, and to enhance the customer experience at every stage of their journey.

Check out this video for a wrap-up from Sam White, or read on to find out who walked away with the grand prizes here.




Update from Sam White

In this video, Sam looks back on October's highlights including LINK and Call-a-thon and the benefits of checking in with your existing customers. He also discusses our strong October results, the latest from MyCRM, and updates on regulation and compliance.

Watch the video




Complaints on the rise, and what you can do about it

The Credit and Investment Ombudsman’s 2017 Annual Report on Operations reports that 5,892 complaints were received in FY 16/17, an increase of 23.8% on FY15/16, and 21.5% more than FY14/15.

Of those, 357 were about brokers and aggregators (6.1%).

As consumers often raise more than one claim in their complaint the percentages referred to relate to the number of claims made by consumers within complaints, and not the total number of complaints.

The following explains the types of complaints received within the broker and aggregator sector:

 

 


The highlighted issues indicate the most prevalent matters currently in Loan Market’s Complaints Register.


 

 

The high instances of inappropriate finance, including responsible lending complaints can infer a number of things. Potentially, customers:

  • Are not having their living expenses correctly recorded
  • Are not having their requirements and objectives correctly recorded
  • Are not having their assets and liabilities correctly recorded
  • Are not sufficiently aware of the terms and conditions of the contract they are signing

The one unifying concept for all of these potential reasons for this type of complaint is that there was insufficient communication.

The same can be said of all of the other listed issues.

What can you do?

  • Communicate with your customers - keep an open dialogue
  • Take notes on everything
  • Upload all notes
  • Upload all email correspondence
  • Follow up every conversation with an email confirmation
  • Get everything in writing

Talk to your compliance team if you have any questions and email link to compliance@loanmarket.com.au




Big wins for Loan Market at Australian Mortgage Awards

Loan Market is celebrating success with three top honours at the 2017 Australian Mortgage Awards (AMAs) going to our brokers. Lee Wisniewski won Young Gun of the Year (Franchise) and Young Gun of the Year (Australia), while Josh Bartlett and his team in Cheltenham took out Brokerage of the Year (1-5 staff). Read more here




New campaign material available

Do you have clients thinking of renovating? Or need a new post-settlement touch point idea?

After a few years of owning a home, many people will be starting to think about their next project, which might be upgrading their home to add value.

We have created new material that outlines a few different lending options available to help fund such projects and how you, as a mortgage broker can help.

Check out the new material here?




Glenn Crombie champions Home Now!

Victorian broker Glenn Crombie ensures that every one of his clients has the opportunity to save money on utilities by introducing Home Now as part of his Document Signing Checklist - whether they are purchasing or refinancing.

As a user of the Home Now service himself, he “speaks from the heart” when he explains the huge savings that can be made, at absolutely no cost to the client.

Clients have the opportunity to opt out, and then Glenn sends all interested clients’ details to Home Now via his dedicated Referral Portal at time of signing, so that he manages the exact time that his clients are contacted.

Email Sarah at support@loanmarkethomenow.com.au to find out how you can add value for your customer with Home Now, or go to https://homenow.loanmarket.com.aufor more information.





Wealth Market’s Biggest Month Yet!

Wealth Market received 363 leads in October - a fantastic result from working together during Link and state events! Thank you for all your support and congratulations to Lyndal Linkin our Top Referrer for October and Link Prize Winner.

Your Wealth team is here to help you build your business and add value to your service offering. Working together as part of your team we can also help to develop and deepen ongoing relationships with clients.

We can assist your clients with their personal protection solution to meet your duty of care to them. We can also help your clients with their broader financial concerns and goals with advisory services including: cash flow management, budgeting & savings, superannuation, investment strategies, retirement planning, estate planning, asset protection, downsizing, business risk & protection and aged care. With more services coming soon…

Remember you can offer #everyclient a complimentary and no-obligation review session with a qualified financial adviser. Adviser Profiles are available now on Print UI to help introduce your adviser to your prospects and clients.

If you’re not already working with Wealth and want to get started, email andrew.ash@wealthmarket.com to get your referral agreement in place - and start earning 15% Referral Fees!




Chairman's Club and Platinum Elite celebrate in Queenstown

Over 4 days in October, Chairman's Club and Platinum Elite brokers celebrated their year of achievements in Queenstown, NZ.

A strong speaker line-up helped refocus and re-energise delegates . This was combined with a healthy dose of adrenaline thanks to the Shotover Jet and a bit of bungee jumping. Congratulations to everyone who reached this Chairman's Club and Platinum Elite performance status.




Connect 2018 - get your early bird tickets now

In 2018, the Loan Market conference will be part of the broader Group event, Connect. At Connect 2018 you’ll not only get the chance to leverage networking opportunities with our partners at Ray White Group, but we’ll have dedicated Loan Market presentations and content, more hack sessions and our own awards night. A limited number of early bird tickets are still available until sold out. Book here.