May 27th, 2019
The 18 May election result was a good one for the mortgage broking industry. The return of the Coalition Government represents political certainty when we need it the most. Last week, we hosted a webinar to discuss the key implications for you and your broking business.
If you missed the webinar, click here.
In the lead up to the election, Connective was in productive discussions with both sides of politics, and we are pleased to see the policies we’ve been advocating for were more wholly endorsed by the Coalition. The most immediate upshot for our industry is that for the next three years at least, trail commissions will remain intact.
That said, there’s more work to be done to secure our industry and position it for growth. Connective, together with the MFAA, FBAA and the Combined Industry Forum (CIF), continues to play an active role in a number of key areas. The good news is that we’re now doing so in the knowledge that, for the next three years at least, we’re dealing with a known political quantity.
More changes ahead – and what Connective is doing
The new Government is committed to rolling out all but one of the Royal Commission recommendations, and the impact of other reviews and potential changes to our industry must also be anticipated and addressed. Some of the more significant areas that we’ll be keeping an eye on – and keeping our broker networks informed about – include:
In addition to direct lobbying, our primary commitment is keeping brokers abreast of these changes and, most of all, offering practical tools and guidance both to support compliance and to help strengthen and diversify your businesses.
The future is bright – but more work is still required
While the election is now behind us and there is greater clarity on policies related to our sector, it is important to remember that there is still plenty of work to do and that we need to keep up the good work.
While we are pleased that the election result supports our sector, we must remember that doing the right thing by customers should remain our primary focus. That means maintaining regular contact with your customers, explaining the services you offer and providing transparency and documentation of your remuneration. .
Our future is bright, but if we are to keep it that way, we need to keep the light shining on everything we do.