ISSUE 11 May 2012 T: 1300 656 922 ABN 66 138 789 161
In this edition•WelcomefromCEO•VowNationalConference2012•VowMiniConferencewrapup•ComplianceUpdate•VowAcademy•IndustryFocus (CliveKirkpatrick,StGeorge)•UpClose(AndersonVago, RutherfordCapital)•PinnacleClub-March2012•QuickNews
The Ascent ProgramUpcoming EventsProduct Training Days June5–Sydney June6–Brisbane June19–MelbourneVow Academy Webinars May16–GettingMoreDone inLessTime May30–BeingMoreEffective June20–BeingaClientMagnetNational Conference October24-26–Phuket, Thailand
Ponder this...“Thegoldenruleforeverybusinessmanisthis:‘Putyourselfinyourcustomer’splace’.”–OrisonSwettMarden
IattendedtheNABBudgetbreakfastrecentlytohearwhattheGovernmenthadinstorefortheAustralianpublicforthecomingyear.MyassessmentwasmoretaxesandnotalotofvisionfortheNation,basicallymoreofthesame.WeliveinacountrythatofferssomuchbutsuccessiveGovernmentscontinuetowastewhatisoneofthebiggestminingboomsinourshorthistory.NomoneyisbeenputintoinvestinginAustralia’sfutureandensuringwhenwehavedugeverythingupoutofthegroundandsolditoffoverseasthattherewillbesomethingleftforgenerationstocome.Weareanextremelywelleducatedsocietybyworldstandardsbutourscientistsandengineerswhocontinuallycomeupwithbreakthroughsintechnology,medicineandinfrastructurehavetogooverseasforfunding.Hopefullyonedaywewillgetagovernmentwhoarewillingtoinvestinourfuture.DidyouknowitwasanAustralianEngineerfromCSIROwhoinventedWiFiandtheAustralianGovernmentcontinuestobenefitfromhisinventionthroughroyaltiesfromsomeofthebiggesttechnologycompaniesintheworld?Thiswilladd$430milliontothegovernment
coffersoverthecomingyears.Notbadforoneinvention.
TheRBAfinallyworkedoutthattherestofeconomy(exceptmining)wasactuallygoingbackwardsanddecidedtoreduceratesby50bp,thiswaslongoverdueandIsuspectwilltakethreetofourmonthstofilterthroughtotheeconomy.ThiswillcertainlyhelpliftconsumerconfidencesubjecttoChinaandAmericacontinuingtogrowandtheEuropeaneconomynotimploding.VowFinancialhasperformedextremelywelloverthelast12monthswithincreasedmarketshare,volumescontinuetoclimbsteadilyandallbodeswellfortherestofthisyear.It’sbeenabusycoupleofmonthswiththerolloutoftheITsystemwhichisinitsfinalstagesofcompletionandanumberofnewinitiativesonthehorizonwhilefocusingoncrosssellofexistingproductsnowavailabletothebrokers.Themostimportantinitiativetobecompletedinthenextthreetofivemonthsisthecompletionofthenewcommissionsystem.Thenewsystemwillbecustombuilttomanageourvariedcommissionofferingswhileallowingbrokerstogetalotmoreinformationabouttheirpayments.Thisshouldbefunctioninginthenext
fewmonthsandwewillrunparallelsystemsforaperiodoftimeuntilwearecomfortablethenewsystemisfunctioningproperly.TheNationalConferenceinPhuket,whilestillafewmonthsaway,isgainingmomentum.Wenowhaveover70brokersandpartnersregisteredfortheconference.WiththeVowBrokerIncentivePrograminfullswingandbonuspointsbeenpaidforcertainproductsweareexpectingalotmorebrokerstoattendthanlastyear.
Iwillbetravellingoverthenext60daysacrossAustraliaandlookforwardtohearingstoriesofsuccesswhichIwillshareinmynextcommunication.Welcometothe11thissueofTheVoice.
WELCOME
Tim BrownCEO - Vow Financial
A regular publication from VowTHE VOICE
VOW NATIONAL CONFERENCE 2012- PHUKET THAILAND
OurNationalConferenceisbeingheldattheaward-winningfivestarJWMarriottResortandSpa,setontranquilMaiKhaoBeachwithstunningviewsoftheAndamanSeafrom24-26October.Therearealreadyover70delegatesconfirmedandanexcitingactivityandconferenceprogram.
Tobookyourticketpleasegotowww.VowConference.com.au.
FormoreinformationabouttheconferencepleasecontacteitheryourVowBDMorTaraDavorenon0282984844.
We look forward to seeing you in this tropical paradise!
A regular publication from VowTHE VOICE
WewouldliketothankallofourbrokerpartnersforyourongoingsupportoverthelasttwoyearsofVowFinancialbeinginoperation.
THANK YOU...WHOLESALE AGGREGATOR OF THE YEAR2011 AND 2012:MFAA EXCELLENCE AWARDS
T: 1300 656 922 ABN 66 138 789 161ISSUE 11 May 2012
AtVowweareconstantlystrivingtobringthehighestlevelofeducationandtrainingwithintheindustrytoourbrokerpartnersandonWednesday18ApriltheinauguralVowMiniConferencewasheldonatANZStadiuminSydney.
Thedaywasahugesuccesswith150delegatespresentandinattendanceforabigscalesponsorexpowereall
ofour2012preferredpartnerswithoutwhomadaylikethiswouldnotbepossible.OneluckyVowbrokerevenwalkedawaywiththegrandprizeofaconferencetickettoVow’s2012NationalConferenceinPhuket!Wewouldliketothankallofourbrokerpartnersfortheirongoingsupportandlookforwardtoseeingyouatthenextprofessionaldevelopmenteventsoon.
THE VOICEA regular publication from Vow
VOW MINI CONFERENCE WRAP UP
T: 1300 656 922 ABN 66 138 789 161ISSUE 11 May 2012
THE VOICEA regular publication from Vow
ASIChasannouncedthatitisconductingareviewofAnnualComplianceCertificates.ItwillinvolverequestinglicenseestoverifytheinformationstatedintheAnnualComplianceCertificates.
AnnualComplianceCertificateisrequiredaspartofaCreditLicencerenewalprocess.OntheCertificate,licenseesdeclareinformationabouttheirbusinessesandconfirmtheyhaveinplacecompliancemeasures.Itisthereforecriticalthatlicenseeshavemeasuresinplacecommensuratewiththescaleandcomplexityoftheirbusinesses.
Creditlicenseesshouldregularlyreviewtheircompliancemeasurestoensuretheyarestillvalidandperformingcorrectly.ASICproducesanumberofregulatoryguideswhichcanassistinthisregard.
VowAcademyisafreeonlineeducationandtrainingprogramrunbyVowFinancial.Werunwebinarsfortheentiremortgage&financeindustryinAustraliaeveryfewweeks.
Weliketokeepourpartnersuptodatewiththeireducationandtraining.DavidStaughtonisourwebinarhostfortheyearatVowFinancial.DavidStaughtonisaprofessionalpresenter,authorandanexpertonhowtomakesmallbusinesseswork.
Go to www.VowAcademy.com.au.
SignuptomakesureyoureceiveourupcominginvitationsandtoviewpreviousVowAcademywebinarvideos.
THE VOICEA regular publication from Vow
LICENSEES SHOULD REVIEW THEIR POLICIES AND PROCEDURES
VOW ACADEMY
T: 1300 656 922ISSUE 11 May 2012
While each licensee will have differentcompliance policies and procedures in place, the following measures are generally required:Compliancemeasureswhichensurethatthecreditactivitiesareperformedefficiently,honestlyandfairly,andaccordingtotheCreditRegulations.Riskmanagementwhichincludesidentification,analysisandriskmitigation.Arrangementswhichensureclientsarenotdisadvantagedasaresultofconflictofinterest.Managementoforganisationalcompetenceandmanagementofrepresentatives.Measuresthatensurethereareadequateresourcesinplace.InternalDisputeResolutionprocessandmembershipofanExternalDisputeResolutionScheme.Compensationarrangements.
What was your New Year resolution?Getfitter.
What was the last book you read? PatriciaCornwell.IalwaysgetoneofherbooksforChristmas.
What CD is currently in your car stereo? ThePretenders–LiveinLondon.
If you weren’t working in the mortgage and finance industry what would you like to be doing? TravellingEurope.
What are the big issues facing the mortgage broking industry in the next two years? Brokerproductivity;deepeningrelationshipswithcustomers;Banksabilitiestohaveconsistentandwellpricedfunding.
What was the first job you ever had? CookingBBQchickensatGraceBros.
What is your favourite movie?AFewGoodMen.
What drives you?Seeingchangeworkforthebenefitofcustomersandstaff.
What do you drive?MercedesC220orHondaCBF1000.
How do you unwind? Cycling.
Where is your next holiday destination? HongKongformywife’sbirthday.
Industry Outlook2012promisesandcontinuestobeanexcitingandchallengingyearandoneinwhichallofusaregoingtohavetolookfornew,differentandbetterwaystoserveourexistingcustomersandtofindnewcustomers.Ibelievethekeystosuccessthisyearwillbeinhowinnovativewecanbeingoingtomarket,howwecancontinuetoimproveonourcustomerserviceofferingandhowagileweareinadaptingtochangesinthemarketplaceandtheenvironment.
Werecognisedtheimportanceofstrongpartnershipswithinthemortgagebrokingindustry,workingtogethertocreatetrulymutuallybeneficialrelationships.We’relookingtoreaffirmthosepartnershipsandtore-energiserelationshipswithourkeybusinesspartners.We’rethrilledtobepartneringwithVowbyprovidingsponsorshipforthefirsttimeintwoyearsandwelookforwardtofurthersupportingVowbrokerswithourmulti-brandoffering.
AtSt.GeorgeBankingGroup(St.George,BankofMelbourneandBankSA)we’recommittedtosupportingbrokerswitha
customercentricservice
proposition.Overthepastmonthswe’veworkedhardtomakesignificantimprovementstowardsupportingourbrokerpartners,providingdirectaccesstodedicatedBDMsforeverybrokeraswellasoperational,creditandtechnologyimprovements.
We’recommittedtothemortgagebrokingchannelandwewillcontinuetoinvestinprocessimprovementinitiatives,productinnovationandserviceenhancements.Butultimatelyweseethisasarelationshipbusiness,andassuchourkeypriorityistofocusondeepeningandstrengtheningourrelationships.
THE VOICEA regular publication from Vow
www.vow.com.au
THE VOICEA regular publication from Vow
INDUSTRY FOCUS
Clive KirkpatrickGeneral Manager – Mortgage BrokingSt George
This issue we asked Clive Kirkpatrick, a few personal questions and to give Vow his thoughts on the industry and partnering with Vow.
T: 1300 656 922 ABN 66 138 789 161ISSUE 11 May 2012
“I believe the keys to success this year will be in how innovative we can be in going to market, how we can continue to improve on our customer service offering and how agile we are in adapting to changes in the marketplace and the environment.”
What’s the key to success in the broking industry? Maintaininghighintegrityinallmatterwithallstakeholdersandprovidingaconsistentserviceandcommunicationtomyclients.
Describe your approach to business in five words. Thebestsolutionsforclients.
What changes have you seen in the industry since you became a broker? LossofcompetitionintheAustralianBankingIndustryresultinginlowerfeesforbrokers;and,morerecentlythelongerandmoredifficultassessmentprocessresultingfromtheintroductionofNCCPLegislation.
What are the big issues facing the mortgage broking industry in the next two years? Thedominanceofthebig4banksandthevolatilityinliquidityinglobalandnationalcreditmarkets.
What’s great about working with Vow Financial? Freshnessinapproachandawillingnesstoexploreotherrevenueopportunitiescollateraltotraditionalmortgagebroking.
How do you unwind? InmysparetimeIplaytennis,beachvolleyballandworkoutatCrossFitboxesaroundSydney.
What are you watching? I’mwatchingGameofThronesSeason2onwhenIhavetime.
What are you listening to? BoyandBear.
What annoys you?Creditassessorswhothinklikerobots!
What makes you happy? Referralsmakemehappy.
What’s your ultimate goal? ToownVow.
If you could have any two people in the world to dinner, who would they be? Bono&GeorgeLucas.
Have you had a life changing moment? Anydaynow…
Finish this sentence. ‘Success is givingyourallevenifyoufail.Orstrikeoil!
Where is your next holiday destination? DoesNewZealandcount?
How did you earn your first dollar? DoortoDoorsalesofelectricscissors,whichneverworked!
BorninBrazil,AndersonlatermovedtoSydneywherehe
completedhisBachelorofArtsattheUniversityofNSW.
In2003hebeganworkingforLoanmarkert,andinthatsame
yearwasawardedRookieoftheYear.SixyearsatLoanmarkert
madeAndersonanexperiencedmortgagebrokerwithaproven
trackrecordinsalesandcustomerservice.In2009,Anderson
movedontoRutherfordCapital,aproviderofuniquewealth
creationsolutionsandstrategiestoindividualsandfamilies
thataimtoimprovetheirqualityoflifetodayandinretirement.
Rutherfordemploysspecialistsintheareasofinvestmentproperty
solutions,financialplanning,mortgagebroking,insuranceand
self-managedsuperannuationfunds(SMSF)toformulateand
facilitatestrategiesitofferstoitsclients.AtRutherford,Anderson
providesexpertiseinmortgagebroking,investmentproperty
solutionsandfinancialplanning,toclientsfromawiderangeof
professions.Anderson’sworkethic,personalityandfinancial
expertisehavemadehimaninvaluableassettothecompany
anditsclients.
THE VOICEA regular publication from VowTHE VOICEA regular publication from Vow
UP CLOSE Anderson VagoRutherford Capital
Anderson VagoRutherford Capital (NSW)
ANDERSON’S STORY…
www.vow.com.auT: 1300 656 922 ABN 66 138 789 161ISSUE 11 May 2012
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OnThursday29thMarchVowFinancialinvitedthetop15brokerswithintheNetworktoourPinnacleCEOeventintheSydneyOffice.
ThedayconsistedofsessionsfromIndustryprofessionalsincludingourPlatinumsponsorMacquarieBankandVowStaff.ThebrokerswerethentreatedtoanexcitingjetboatrideontheharbourandconcludedwithadinneratanamazinglocationontherooftopofCustomsHouse.
Abigthankyoutoallthosethatparticipated,averysuccessfuldayandwelookforwardtothenextPinnacleeventinPhuket,ThailandinOctober.
ReadyfortheJetboatride
JetboatersLtoR–JohnMcLennan(Equitimax),RobertWard(Equitimax),RobertBrand(TassieHomeloans),AndrewParry(MacquarieBank),MattMitchener(VowFinancial),TimBrown(VowFinancial),RodnyGhalie(CitywideLending),AlistairPerry(PerryFinancialStrategies),JackCzechowski(VowFinancial),WilliamChen(PacificMortgageCentre),AlexTerry(VowFinancial),SuzanneSnoeks(NBGFinancial),JayneGibbs(JayneGibbs),TaraDavoren(VowFinancial)
ThegroupenjoyingacoldbeverageaftertheJetBoatexperience
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PINNACLE CLUB MARCH 2012
THE VOICEA regular publication from VowTHE VOICEA regular publication from Vow
TEAM VOWW: vow.com.au
BecomeafanonFacebookwww.facebook.com/VowFinancial
FollowusonTwitterwww.twitter.com/VowFinancial
Sydney Office T: 1300 656 922POBoxH265,AustraliaSquareNSW1215
Newcastle Office T: 1300 730 050POBox575,HamiltonNSW2303
QUICK NEWS- Congratulations to Tara Davoren and Alex Terry of Vow Financial (Pictured) whoparticipatedinCoastrek,a50km charitywalkthroughthenightfortheFred HollowsFoundationonFridayMarch2, 2012.- Vow Platform is currently being rolled out to the network. Ifyouneedmore information,pleasecontactyourVowBDM.- The Vow Incentive Program started on February 1, 2012. TheProgramrewardsourbrokers forloansanddiversifiedserviceswrittenorreferredthroughVowFinancial.Theprogramisbuilt tohelpourbrokersgrowtheirbusinessesandattendourNationalConferenceinPhuket, Thailandthisyearforfree.Tosigningotovow.com.au/vow_incentives.- Adelaide Bank and ANZ Personal Loans have now joined our lending panel.- ME Bank are to join the Vow panel attheendofMay2012- This month Powerport will be rolling out our ‘free bulletin service’. Clientswillbeableto sendnewsbulletinsthatarefullybrandedandpersonalisedforfree!*Call1300138987formore information.*(appliestoclientsontheemailpackage)
SERVICE GUARANTEE FOR OUR BROKER PARTNERSIfitevertakesusmorethan4businesshourstoreturnyourcall,wewillpayyou$100-noquestionsasked.