the voice - vow financial · a regular publication from vow the voice a regular publication from...
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![Page 1: THE VOICE - Vow Financial · A regular publication from Vow THE VOICE A regular publication from Vow ISSUE 8 July 2011 T: 1300 730 050 ABN 66 138 789 161 STATE OF ORIGIN 1. State](https://reader034.vdocument.in/reader034/viewer/2022052020/6033ab1123cac75e495332f9/html5/thumbnails/1.jpg)
ISSUE 8 July 2011
THE VOICEA regular publication from Vow
T: 1300 730 050 ABN 66 138 789 161
In this edition•WelcomefromCEO•VowNationalConference•BrokersShiftingFocus –MichaelOsborne•ADayOutonTheHarbour•StateofOriginII•JuneProductTrainingDays•VowXtreme•IndustryFocus(Mario Rehayem,PepperHomeloans)•UpClose(RobDiodato, TheMortgage&Finance Professionals•BookReview•Our2011PreferredPartners•TeamVow
The Ascent ProgramUpcoming EventsProduct Training Days July28–Perth August2–Tasmania August3/4–Sydney August4–Newcastle August9–Brisbane August11–Melbourne
Ponder this...“Inthebusinessworld,therearviewmirrorisalwaysclearerthanthewindshield.”-WarrenBuffett
TherearetwosuccinctmessagesforourindustrycomingoutoftheLaborGovernment’sdecisiontobanexitfees.First,itillustratesthatLabordoesn’tunderstandourindustry,becausethisbanwillhelpreducecompetition–theveryoppositeofwhattheyclaimtowant.
ButIbelievethesecondmessageismoreimportant;Laborisnotlisteningtoourindustry.Onanissueofsuchimportancetobrokers,wherethelogicofourargumentwasself-evident,Laborsimplyturnedadeafear.
ItsuggeststhatourindustryhastobecomesmarterabouthowwelobbyCanberra.Insteadofbeingreactive,literallywaitingfortheGovernmenttoenactpoorpolicybeforedoinganything,weshouldbemoreproactive,withanobviousexamplebeing
theneedfortheGovernmenttoseriouslysupportnon-banklenders.The$20billiondedicatedbytheAustralianOfficeFinanceManagementtosupportsecuritisationdoesnotequalonemonth’slendingvolumes,renderingitvirtuallyfarcical.
TheMFAAandtheindustrybeganagrassrootscampaigndirectlyinvolvingbrokersonissuescriticaltoourcommercialwell-being.Butmuchmoreneedstobedone.
AgoodstartingpointcouldbetogetLabortoreplicatetheCanadianGovernment’sHousingCorporationthatinsuresoneinthreemortgagesfundedinthatcountry,apolicythatunderpinneditsbankingindustryduringtheGFCwhilestillmaintainingahealthylevelofcompetitioninthemortgagemarket.
Whatevertheissue,nowisthetimefortheindustrytoputitscollectiveshouldertothewheeltosafeguardourincomeandsecurethelong-termfuture.
Ilookforwardtohearingyourthoughts.Welcometothe8thissueofTheVoice...
OursecondNationalConferenceisbeingheldatthestunningSofitelFijiResortandSpafrom7-9September.Therearealready100delegatesconfirmedtoattendandanamazingactivityandspeakerprogram.
Registrations will be closing soon –pleasegotowww.VowConference.com.au.FormoreinformationabouttheconferencepleasecontactyourVowBDM.
WELCOME
NATIONAL CONFERENCE 2011: 8 weeks away!
Tim BrownCEO - Vow Financial
WholesaleAggregatoroftheYear
We look forward to seeing you in Fiji with the stunning Pacific Ocean as the backdrop!
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THE VOICEA regular publication from Vow
Theexitfeebanisjustanotherchangeforthemortgageindustry.Asprofessionalmortgagebrokersthereislittledoubtweneedtoworkmorecloselyandmoreproactivelyasonevoicetolobbylenders,industryintermediaries,thegovernmentandtoocolleaguesaroundus(ourfellowbroker)abouttherequiredinvestment,innovationandthedirectionneededforthisgreatindustry.
Wehavealsowrittenforalongtimetheneedfortheindividualmortgagebrokertoinvest,innovateandconsidertheirdirection
movingforward.Inthispost-regulatedenvironmentwithsomuchchange,shrinkingrevenuesandhigherrunoffsthegreatstoryisthatVow’smortgagebrokersappeartohaveshiftedonmassfromthinkingaboutdiversificationtoactualimplementationofnewproducts&services.
ThishasbeenevidencedfromdozensofbrokersutilisingtheVowLeasingservice,genuineexpressionsofinterestinpartneringwithVowWealthManagement,over220brokers(in4weeks)seekingaccesstogeneralinsurancethroughAllianzInsuranceand$10millionofinvestment
propertiesexchangingthroughBlueWealthProperty.
Itappearstherealevolutionisstartingtotakeshapeandtheoldmortgagebrokerisgraduallycarvingoutanewuniqueservicepropositiontobecomeagenuinetrustedadviserfortheirclient(s).
Congratulationstoallyouwhohaveacted–Vowencouragesyoutocontinueonthisjourney!
WithVowLegalformallylaunchinginJulyandVowCommercialbeingfinalised,thefuturelooksbrightforthosethatjumponboard.
BROKERS SHIFTING FOCUS
www.vow.com.auT: 1300 730 050 ABN 66 138 789 161ISSUE 8 July 2011www.vow.com.au
1:MichaelNicholson(Director,VowFinancial)2:JaisonSingh(FinancialElements),VaseMarcevska(PepperHomeloans),MarioRehayem(PepperHomeloans), TonyNewcombe(VowFinancial)3:JohnMartin(AllAboutFinanceServices),MickChardon(ChardonandAbbottHomeLoans),LeightonKing(VowFinancial), GeoffAbbott(ChardonandAbbottHomeLoans),RoseRenouf(MortgageSupply),MikeGriffiths(MoneywiseFinance), JayneGibbs(JayneGibbs),RosinaTombs(VowFinancial),WilliamChen(PacificMortgageCentre),WendyHoang(Totally Mortgage),CraigForeman(TaurusFinancialServices)RobKlenner(Macquarie),TimBrown(VowFinancial),DinoPesce (Macquarie),JeffWong(D&JFinancialServices),JustinDale(VowWealth)4:TimBrown(VowFinancial),MikeGriffiths(MoneywiseFinance),GeoffAbbott(ChardonandAbbottHomeLoans)5:JaisonSingh(FinancialElements),AnilVarandani(FocalPointHomeLoans),MarioRehayem(PepperHomeloans), OmarBahemia(Greenspan),JackWei(FinancialGenius),RobertWard(Equitimax),SarahWells(RedConcierge), VaseMarcevska(PepperHomeloans),JohnMcLennan(Equitimax),TonyNewcombe(VowFinancial),KenMartin(Greenspan)6:MarioRehayem(PepperHomeloans)feedingaseagull
A DAY OUT ON THE HARBOURwithourtopBrokerPartnersinSydney.
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Michael OsborneHead of Sales & Distribution - Vow Financial
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THE VOICEA regular publication from Vow
www.vow.com.au
THE VOICEA regular publication from Vow
T: 1300 730 050 ABN 66 138 789 161ISSUE 8 July 2011
STATE OF ORIGIN
1.StateofOriginGame22.MattMitchener(VowFinancial), MuziDandachli(ProlinkFinance Solutions),TaraDavoren(Vow Financial)3.TonyPearce(AlliedAccess),Michael Osborne(VowFinancial),Michael Ryce(GoDirectHomeLoans),Steve May(InsightWealthPlanning), ShayneRumbel(S&KRumbelPty Ltd),TimBrown(VowFinancial),Muzi Dandachli(ProlinkFinanceSolutions)
AnightatANZStadiumintheVowCorporateBoxforgame2oftheStateofOrigin.
VOWXTREME
1
2
3
TeamVowXtremeiswalking100kmtoraisemoneyfortheworld’spoorestcommmunties.Sofarwehaveraisedover$8Kandarelookingtoraisemuchmore.If you would like to donate please go to:
TimBrownaddressesbrokerpartnersatProductTrainingDaysacrossAustralia
Over200brokerpartnersattendedProductTrainingDaysacrossAustraliainJune.ThiscoincidedwiththelaunchofVowWealthManagement.
JUNE PRODUCT TRAINING DAYS
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THE VOICEA regular publication from Vow
www.vow.com.au
THE VOICEA regular publication from Vow
What was the last book you read? Insomeoneelse’sshoes.
What CD is currently in your car stereo? It’sembarrassingbutheregoes;acompilationofPrince&MichaelJackson’sgreatesthits.
If you weren’t working in the mortgage and finance industry what would you like to be doing? IhavealwaysbeeninterestedinLaw,especiallybeingabarrister,you’reunderpressure24/7,andthethrillofwalkingintoacourtroomandownitwouldbeeuphoric.
What are the big issues facing the mortgage broking industry in the next two years? Weneedtobeverymindfulonwhattheindustryisdoingtoattractnewblood.Newbloodiscrucialforthisindustry’slongevity.
What was the first job you ever had?Itwassales&marketing;attheageof16Istartedalocalcalendarrunwhichhadlocalbusinessespurchaseadvertisingspaceonthecalendar.Soldthebusinesstothelocalnewspaper2yrslater,andmanagedtowinalocalbusinessawardintheprocess.
What drives you?Besidesmywifeandkids...innovation&success.Thereisnobetterfeelinginwatchingsomethingevolvethewayyouplanned.
What do you drive?2010BMW323MSpecasmydaytoday.IalsohaveaNissanGTRVSpecR33foralittlefunonthetrackwhenIgetthechance.
How do you unwind? AbottleofHighlandPark40Yroldscotch,anassortmentofmum’sspecialrecipepicklesandafewmates...heavendownunder.Nowbacktoreality...takingthekidstoalocalfishingspotorkidsplayhouseontheweekendistheusualtimeoffforme.
Where is your next holiday destination? Lebanon&Parisherewecome!
Industry outlook:Mortgagebrokingasaservicehasbeeninexistencearound17years.Overtheyearsalothaschangedandwillcontinuetodoso.Gonearethedayswhereamortgagebrokerisusedjustformortgagesorforrateshopping.Today’sbrokersarenowlicensed&areabletofillthegapinthemarketthathasbeenmissinginthepast.Brokersnowserviceconsumersinthemarketthat
arelookingtopurchaserealestate,vehicles,businessequipment,insuranceandthelistgoeson.Theonethingthathasn’tchangedinthisindustryistheconsistentcryingoutforoptions,andthoseoptionsneedtocomefromAggregatorsandlendersintheformofinnovation.
VowFinancialhasbeenextremelyproactivewithitsinnovativeoptionssuchasVowWealth,VowLegal,VowLeasing,theVowiPhoneApp&thelatestSNAPprintingofferingtoitsmembers…ThisisverymuchlikePepper.
LikeVow,atPepperweareconstantlyworkingbehindthescenestoensurethatourproductofferingsareinnovativeandmarketleading.PepperledthewaywiththeremovalofDEF’swithoutaffectingbrokersbywayoftighteningclawbackpolicies.Werecentlyreleasedour90%Fulldocproductthatallowscreditimpairment,nogenuinesavingsandnoLMI,thisisauniqueofferingfromPeppertothebrokermarket,wehavealsotweakedourcreditpolicytoallowarrearsonFulldocloans,andimpairmentonLowDocLoans.Pepperdeliversallthisandisstillabletoensureitsserviceofferingsaresecondtonone.WeofferdirectcreditaccesstoALLourbrokersandcommittoa48hrturnaround.
Asmentionedpreviouslythemortgagebrokersareheretofillthegapinthemarket.Thisincludesthegapcreatedbymajorbanksandmortgageinsurersrestrictedcreditappetite.ThegapcaneasilybeservicedbybrokersbeingconsciousofwhatspecialistlenderslikePepperhavetooffertheindustry.Pepperoffersolutionsforcustomersthatfalljustoutsidethenormalcreditcriteriaofthebanks.Brokersshouldembraceeveryopportunitytoservicetheircustomers’needstodayandinthefuture.Sothenexttimeyourloangetsdeclined...ThinkPepper.
UP CLOSE
T: 1300 730 050 ABN 66 138 789 161ISSUE 8 July 2011
INDUSTRY FOCUS
Mario RehayemDirector, Sales and DistributionPepper Homeloans
This issue we asked Mario Rehayem at Pepper Homeloans a few personal questions and to give Vow his thoughts on the industry and partnering with Vow.
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THE VOICEA regular publication from Vow
www.vow.com.au
THE VOICEA regular publication from Vow
How did you get into mortgage broking? Ihavealwaysbeeninbanking.SeemedlikeanaturalprogressionforwhereIwasheadedinmycareer.Wantedtoconcentrateonclientrelationshipmanagementmoreandthebankswerenotsoinfavourofthatideaandkepttransferringmearound,sodecidedtostartmyownbrokingbusinessin2001.
What’s the key to success in the broking industry?Ithinkthatagoodknowledgeofthebankspoliciesandafocusoncustomerservicearethetwomainkeystosuccess.Clientswanttoknowsoundinformationandthatyougetwhattheywantinatimelymanner.
Describe your approach to business in five words.Serviceiseverything.(onlythreeIknow).
What changes have you seen in the industry since you became a broker?ProductisthemainchangeIhavenoticed.Theevolutionoflowdoc,thenthereturntofulldocandbackagain.MorerecentlythroughtheGFC,reducedlendingmarginshasbeenthebiggestissue.
What are the big issues facing the mortgage broking industry in the next two years? Ithinktheclawbackissueandthepaymentstousasbrokerswillbecomesomethingwewillneedtocontendwith.Theimpactoncashflowandthevalueofourbooksisamajorissue.
What’s great about working with Vow Financial? Thepeople.
How do you unwind?Igosurfing.
What are you watching?Footy(AFL)andsonsofanarchy.NotmuchintoTV.
What are you listening to?TheFooFightersnewalbum.
What makes you happy? Timespentwithfamilyandfriends.
What’s your ultimate goal? Workwise:haveabusinessthatrunswithoutmeinit.Personal:traveltoplacesthataren’ttouristy.
If you could have any two people in the world to dinner, who would they be?Alive:JenniferHawkinsandtheDalaiLama.Peoplethataredead:JesusandMary.Somequestionsneedanswering.
Have you had a life changing moment?Yeah,acouple.BiggestonewasthebirthofmydaughterDemi.
Finish this sentence. ‘Success is…beinghappywithwhatyouhave.
Where is your next holiday destination? Fiji,fortheVowConferenceinSeptember.
How did you earn your first dollar? Apartfrompocketmoney,Ipackagedupclayintocubesforaguythatmadepotsandvasesetc.$15aweekwhilstIwasatschool.
UP CLOSE Rob DiodatoThe Mortgage & Finance Professionals
Rob Diodato,Director, The Mortgage & Finance Professionals (WA)
ROB’S STORY…
T: 1300 730 050 ABN 66 138 789 161ISSUE 8 July 2011
Bornin1967andraisedinLeedervilleandBedford.Robjoined
Westpacin1982andleftin1996.Robhadavarietyofroleswith
otherlenderstogetsomeexperienceinallformsoflendingand
hestartedbrokingin2001.HefinishedhisFinance/Economics
degreein2002.Hehasa14yearolddaughter,yikes!Helikesto
surfwhenhecanandfollowstheWestCoastEaglesintheAFL
andrecentlystartedplayingAFLmasters.Soundedlikeagood
ideaatthetime!
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THE VOICEA regular publication from Vow
www.vow.com.au
THE VOICEA regular publication from Vow
SERVICE GUARANTEE FOR OUR BROKER PARTNERS
OUR 2011 PREFERRED PARTNERS
TEAM VOWW: vow.com.au
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Sydney Office T: 1300 656 922POBoxH265,AustraliaSquareNSW1215
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T: 1300 730 050 ABN 66 138 789 161
Ifitevertakesusmorethan4businesshourstoreturnyourcall,wewillpayyou$100-noquestionsasked.
ISSUE 8 July 2011
MAKE EVERY SECOND COUNTTime Management Tips and
Techniques for More Success
With Less Stress
By: Robert Bly
MakeEverySecondCountgoesbeyondtheusualtime-managementbookstobringyouabroadrangeofstrategiesandtacticsdozensofprovenmethodstogetmoredoneinlesstime.
You’lldiscoverhowtomaximizeyourtimebysettingpriorities,createusefulschedules,andovercome
procrastination,howtoboostyourenergylevelandproductivitywithproperdiet,exercise,andsleep.You’llalsolearnhowusingthelatesttechnologycanenableyoutomanageinformationandcommunicatemoreeffectivelyandefficiently.
MakeEverySecondCountalsocontainstime-testedadviceongoalsetting,businesstravel,socialnetworking,mobiletechnology,planningsystems,andtimemanagementinthehome.