Majors lose focus as all eyes on Canberra. Competition Index – December 2017

AFG has today released Competition index figures for the final quarter of 2017.? Once again, Australia’s major lenders have taken a hit with their market share now down to a post-GFC low of 62.57% of the mortgage market. The majors lost ground in all categories since the time of the last AFG Competition Index, including a drop of more than 3% in refinancing and more than 2% in fixed rates.

AFG General Manager – Broker and Residential Mark Hewitt explained the results: “The major banks have been under intense scrutiny by government and the regulators and it is probably no wonder if they have been distracted,” he said.

“With the recently announced Royal Commission into the banking sector we all hope lenders can respond whilst still maintaining a focus on their customers.

The Royal Commission, and the industry need to focus on how competition can be further improved and this should include the impact the government guarantee has on competition.

“The Westpac group as a whole were the only ones to make up any ground, up from 19.19% at the time of the last AFG Competition Index to finish the quarter at 20.33%.

ANZ lost the most ground amongst the major banks, down 3.5% for the quarter.

The non-majors now enjoy a market share of 37.43%.

“The non-majors picking up market share were Macquarie, with an increase from 2.91% to 4.70% and AFG Home Loans with a lift from 8.88% to 10.15%,” concluded Mr Hewitt.

AFG VIC State Christmas Celebrations 2017

2017 has been an eventful year for the broking industry, and with the year coming to an end, it’s time to take a step back and reflect on the achievements and challenges experienced by our state team and members.

Earlier this month, approximately 300 of our brokers in VIC, and AFG state office staff celebrated the successes of the year at our Christmas function, held at The Boatbuilders Yard, South Wharf.

It’s been a busy year for the VIC team, with a few new faces coming onboard. Georgia Underwood started with us in September to assist with the newly released AFG Business department, as our BDM Commercial. Jackie Coysh also joined us in September as Office Manager for SA and VIC.

Special congratulations go to two of our state team members, Jelena Perkovic and Hayden Cush, who both got married this year.

 

Developments from AFG

AFG continuously strive to be recognised as Australia’s premier financial solutions partner. We’ve worked hard throughout the year to secure several initiatives aimed at assisting our brokers in growing their businesses. In September, AFG launched a referral ?program with life insurance comparison company Lifebroker, which allows brokers to introduce clients to life insurance. AFG entered a relationship with CoreLogic, providing brokers with discounted rates to RP Data Professional, to include property reports in their suite of services to their clients.

After a year of development, AFG launched AFG Business –? a game-changing platform allowing brokers who primarily write in the residential space to diversify into commercial broking. We’ve seen great interest in the platform and look forward to seeing brokers grow their business within the commercial lending space. Georgia is doing a fantastic job in bringing brokers onboard to the platform and is there to assist with all your AFG Business related queries.

Looking back at some key events and achievements throughout the year, special mention goes to the winners of our VIC State Awards held in July this year.

We’re looking forward to assisting our members in 2018 with some exciting new technology, with the launch of the AFG Suite. The features will make life for our brokers a lot easier and a lot more intuitive, with some very clever technology to bring their key data under one roof – optimising management like never before.

From everyone within the VIC state team, we wish you a safe holiday season and a successful 2018.

AFG SA State Christmas Celebrations 2017

2017 has been an eventful year for the broking industry, and with the year coming to an end, it’s time to take a step back and reflect on the achievements and challenges experienced by our state team and members.

Earlier this month, our SA brokers and AFG state office staff celebrated the successes of the year at our Christmas function, held at The Hennessy Rooftop Bar at the Mayfair Hotel. It was a great opportunity for our new VIC/SA Office Manager, who joined AFG in September, to meet all of our South Australian based brokers.

 

Developments from AFG

AFG continuously strive to be recognised as Australia’s premier financial solutions partner. We’ve worked hard throughout the year to secure several initiatives aimed at assisting our brokers in growing their businesses. In September, AFG launched a referral program with life insurance comparison company Lifebroker, which allows brokers to introduce clients to life insurance. AFG entered a relationship with CoreLogic, providing brokers with discounted rates to RP Data Professional, to include property reports in their suite of services to their clients.

After a year of development, AFG launched AFG Business –? a game-changing platform allowing brokers who primarily write in the residential space to diversify into commercial broking. We’ve seen great interest in the platform and look forward to seeing brokers grow their business within the commercial lending space.

Looking back at some key events and achievements throughout the year, special mention goes to winners of our SA State Awards which were held in August this year. Winners were:

We’re looking forward to assisting our members in 2018 with some exciting new technology, with the launch of the AFG Suite. The features will make life for our brokers a lot easier and a lot more intuitive, with some very clever technology to bring their key data under one roof – optimising management like never before.

From everyone within the SA state team, we wish you a safe holiday season and a successful 2018.

AFG WA State Christmas Celebrations 2017

With the end of 2017 fast approaching, it’s a time to reflect on the achievements and challenges throughout the year for our state team and members, and head into 2018 with optimism and passion for the industry we’re part of.

Last week, approximately 350 WA brokers and AFG head office staff celebrated the successes of the year at our Christmas function, held at Sweetwater Bar in East Fremantle.

It’s been a busy year for the WA team, with a few new faces joining AFG. Yvette Fong and Sharna Phillips started as our Relationship Managers, Andrew Lawton as Business Development Manager, and Paul Eckermann completing the team as our AFG Home Loans Business Relationship Manager. Previously a Relationship Manager, Jia Jia Wong was deservedly promoted to Business Development Manager. Our team is stronger than ever, and we’re excited at what we can offer our members coming into 2018.

 

Developments from AFG

AFG continuously strive to be recognised as Australia’s premier financial solutions partner. As such, several initiatives have been introduced this year to assist our brokers in growing their business. A referral program was launched with Lifebroker, which allows brokers to introduce clients to a life insurance comparison service. AFG entered a relationship with CoreLogic, providing brokers with discounted rates to RP Data Professional, allowing them to extend their services to include property reports to better service their clients.

After a year of development, AFG launched AFG Business –? a game-changing platform allowing brokers who primarily write in the residential space to diversify into commercial broking. We’ve seen great interest in the platform and look forward to seeing brokers growth their business within the commercial lending space.

Looking back at some key events and achievements throughout the year, special mention goes to the winners of our WA State Awards held in August this year.

We’re looking forward to assisting our members in 2018 with some exciting new technology, with the launch of the AFG Suite. The features will make life for our brokers a lot easier and a lot more intuitive, with some very clever technology to bring their key data under one roof – optimising management like never before.

From everyone within the WA state team, we wish you a safe holiday season and a successful 2018.

 

AFG QLD State Christmas Celebrations 2017

The broking industry faced several challenges this year, but with the end of 2017 fast approaching, it’s time to reflect on the achievements of our team and re-charge ready for a successful 2018.

Earlier this month, we celebrated the year with our brokers and AFG state office staff in several locations across QLD and NT:

Looking back on our staff movements over the year, we welcomed a new face to the AFG team. Danni Porter commenced in February 2017 as our AFG Home Loans Business Relationship Manager, joining Adam Barker to complete our AFG HL team.

In November, Bob Whetton, National Commercial Manager retired after spending the past 16 years with AFG. His knowledge of commercial finance and strong relationship with our brokers and lenders were both strong attributes and keys to building the successful commercial aggregation business.

 

Developments from AFG

AFG continuously strive to be recognised as Australia’s premier financial solutions partner. As such, several initiatives have been introduced this year to assist our brokers in growing their business. A referral program was launched with Lifebroker, which allows brokers to introduce clients to a life insurance comparison service. AFG entered a relationship with CoreLogic, providing brokers with discounted rates to RP Data Professional, allowing them to extend their services to include property reports to better service their clients.

After a year of development, AFG launched AFG Business –? a game-changing platform allowing brokers who primarily write in the residential space to diversify into commercial broking. We’ve seen great interest in the platform and look forward to seeing brokers grow their business within the commercial lending space.

Looking back at some key events and achievements throughout the year, special mention goes to the winners of our QLD, NT and Nth NSW State Awards held in August this year.

We’re looking forward to assisting our members in 2018 with some exciting new technology, with the launch of the AFG Suite. The features will make life for our brokers a lot easier and a lot more intuitive, with some very clever technology to bring their key data under one roof – optimising management like never before.

From everyone within the QLD state team, we wish you a safe holiday season and a successful 2018.

 

NSW / ACT Champion Awards & Christmas function

Thank you to everyone who attended the AFG NSW and ACT 2017 Awards Night and Christmas function on Thursday 7th December at Doltone House, Hyde Park.

We would like to take this opportunity to congratulate all of our award finalists?and ultimate winners in each category for the 2017 year. It has been an amazing year for us all, plenty of changes in a vibrant industry that continues to grow and flourish and provide opportunities for all brokers big and small.

Well done on all your hard work, and we look forward to a successful 2018!

Best Broker Group

Strategic Financing Pty Ltd

Regional Group of the Year

Clarity Home Loans

Regional Broker of the Year

Robert Garth

Best New Group

Simplify Finance

Best New Broker

Stephen Zahr

Best Broker Leasing & Equipment Finance

Angelo Pillai

AFG Home Loans Broker Group of the Year

Oxygen Home Loans

AFG Home Loans Broker of the Year

Kylie Ravens

Best Broker Personal Loans

Steven Rabbitt

Best Broker Commercial Business

Marwan Rahme

Best Insurance Broker

Nathan Aird

Non-Major Lender of the Year

ING

Major Lender of the Year

ANZ

Lender BDM of the Year

Grant Roden

Mortgage Success Scholarship Winner

TBA

Top 40 Mortgage Brokers

  1. Peter Ellis
  2. Paul Miron
  3. Alexander Nochar
  4. Roger Guo
  5. Marwan Rahme
  6. Robert Garth
  7. Katrina Rowlands
  8. Hye Young Kim
  9. Colin Smith
  10. Arman Yazarloo
  11. Raymond Xue
  12. Scott Durrant
  13. George Fennel
  14. Hussain Mufti
  15. Simon Orbell
  16. Jarred Spurr
  17. Brett Compton
  18. Nathan Aird
  19. Brett Dickie
  20. Rick Somboli
  21. Michael Khoury
  22. Armen Vartazarian
  23. Adam McCabe
  24. John Brice
  25. George Kanellis
  26. Joel Wyld
  27. Calvin Chen
  28. Rachelle Eyndhoven
  29. Nicholas Jacobs
  30. Rooma Nanda
  31. Wissam Azzi
  32. Kylie Ravens
  33. Zlatko Mircevski
  34. Jackie Jiang
  35. Charles Loveridge
  36. Steven Kipic
  37. Gino Marra
  38. Fabio De Castro
  39. John Ruddick
  40. Paul Myliotis

Top 20 Mortgage Broker Groups

  1. Shore Financial
  2. Oxygen Home Loans
  3. Smartmove Professional Mortgage Advisors
  4. Apple Home Loans
  5. ACA Mortgage Solution
  6. Clarity Home Loans
  7. Century 21 Home Loans
  8. BCP Group Lending
  9. My Loan Expert
  10. Sphere Finance
  11. Mortgage Success
  12. Strategic Financing
  13. Bluepenny Group
  14. Kanebridge Capital
  15. Galaxy Finance & Property Group
  16. Now Home Loan
  17. Equiti Finance
  18. Command Home Loans
  19. Peasy Services
  20. Successful Ways

 

Mortgage brokers in the mix

AFG (ASX: AFG) has today called on the banking Royal Commission to recognise the significant inquiries that have already been conducted into the mortgage broking sector and the important role mortgage brokers play in the Australian lending market, as the government outlines the inclusion of mortgage brokers in the scope of the banking Royal Commission.

“The mortgage broking channel accounts for more than 53% of the Australian lending market so it is unsurprising that we are in the mix, however 2017 has also been marked by significant regulatory scrutiny of our industry,” said AFG CEO David Bailey.

“The ASIC Review of mortgage broker remuneration and the ongoing Productivity Commission inquiry into competition in the financial system have both looked at the structure of the mortgage broking sector.

“We are confident Justice Hayne will recognise the unprecedented data collection process conducted by ASIC in their Review of mortgage broker remuneration has thoroughly examined our industry.

“The ASIC report recognised the important role that mortgage brokers can play in promoting good consumer outcomes and strong competition in the home loan market and we are confident any other examination of our sector would find the same,” said Mr Bailey.

The Combined Industry Forum (CIF), made up of representatives from across the mortgage industry, has submitted a report to government that outlines a package of reforms to address the proposals made in the ASIC review.

“The Productivity Commission is also undertaking a significant examination of the competitive landscape and mortgage brokers are a key lynchpin in providing that competition.

“The Royal Commission, and the industry as a whole, needs to focus on how competition can be further improved and this should include the impact the government guarantee has on competition.

“Ultimately, the findings of this inquiry should assist the government to promote a competitive and stable financial industry that contributes to Australia’s productivity,” said Mr Bailey.

“The mortgage broking sector provides vital competition to deliver on that aim.

“AFG has 45 lenders on its panel with more than 37% of borrowings going to lenders other than the four major banks, and we remain committed to ensuring choice and competition remains for Australian consumers.

“This competitive tension ensures consumers continue to have choice and most importantly benefit in terms of home loan price and service because of the service brokers deliver on a daily basis across the Australian lending market,” he concluded.

Download full media release:?Mortgage brokers in the mix

Andre Eikmeier, Vinomofo – AFG National Broker Conference 2017

Andre Eikmeier is an Entrepreneur, Co-Founder and Joint CEO of Vinomofo, one of Australia’s fastest-growing companies and a leader in innovation, disruption and culture. Andre spoke to our brokers earlier this year at our National Broker Conference in a talk titled?Road to vino – how Vinomofo survived and conquered.

Andre shared the failures, triumphs and learnings that have shaped this disruptive wine business into one of Australia’s fastest-growing start-up success stories.

Having grown from two founders in a garage in Adelaide to a team of 100 nationally turning over $30 million in less than four years, Vinomofo and its entrepreneurial founders have won a host of business awards for growth, innovation, technology and culture.

In telling his story, Andre looked at the importance of customers, culture and marketing. With many synergies and parallels between Andre’s business and many of our brokers’ businesses, there were many lessons to be learnt from Andre’s story. Watch the video:

Training Update – December 2017: Curating Content for Social Media

A few months ago we sent you our first training module in a series of learning and?development topics?aimed to educate and help future proof your business. That module was based on commonly asked questions of our marketing team regarding social media. We hope you found the?Introduction?to?Social?Media?training video?of interest.

What training we have coming up

The next training module extends this topic further and looks at how to curate content for your social media accounts, whether its Facebook, Twitter or LinkedIn for example.

The right mix of content can enhance your business profile on social media and improve your website, as well as growing you and your staff’s knowledge of sales and marketing technologies.

Get started with your next course

Click on the video to take a look at the next course in the series, Content Curation.

 

 

Dr Catriona Wallace, Flamingo – AFG National Broker Conference 2017

Speaking at our National Broker Conference earlier this year, Dr Catriona Wallace, Founder and CEO of FinTech company Flamingo,?highlighted the key customer experience trends. Catriona provided our brokers with practical, useful actions related to navigating this new paradigm.

Customer experience has moved beyond personalisation to individualisation – where customers not only want a personalised offer but are able to have a ‘journey’ or experience with an organisation that is configured just for them. But is individualisation of customer experiences scalable? Not without the introduction of machine learning, artificial intelligence and digital plus good data and behavioural science.

Watch Catriona’s talk The future of customer experience: individualisation and the rise of the machines: