Broker concerns to be aired as MFAA, FBAA come together

A public forum will give brokers the chance to put their concerns to industry associations as it brings together MFAA CEO Phil Naylor and FBAA president Peter White.

The Independent Finance Brokers Forum (IFBF) will hold an open forum on 22 March at the Rosehill Bowling Club near Parramatta, NSW, where chair Stephen Dinte said Naylor and White will engage concerns raised by brokers over the role of industry associations.

Dinte told Australian Broker the forum would give brokers an opportunity to air their concerns over the role the associations play in advocating for the industry.

  "Brokers for the most part feel that they're contributing membership fees to these organisations, and one of the ways brokers would like to see the money used is in some form of advertising what it is we do," he said.

Dinte argued that, at the moment, "outside of the industry nobody knows the MFAA or FBAA", and said the forum would put the question to Naylor and White what the associations are doing to raise consumer awareness.

#pb#"If you think of other industry associations out there - and CPA is a perfect example - you often see TV commercials running promoting the advantages of using a CPA. Brokers for the most part would like to see that sort of promotion incorporating the fact the qualifications brokers have," Dinte said.

He argued that, while the associations may be delivering benefits to their members, many brokers were in the dark about their activities.

"The other real issue we're going to put to these guys is that the associations are kind of like ducks. On the surface you don't see much, but underneath their feet are going like crazy. There's heaps going on, but the message doesn't seem to be getting out there in any meaningful way to show their membership," he said. 

"We may have a better life because of what they've done in the past, and we just don't know they did it. They're probably doing themselves a disservice in that," he added.

Dinte urged brokers to register for the forum as limited space was available. He called the roundtable a "coup" for an organisation such as the IFBF.

  "The IFBF is just a small group of guys who have been in the industry a long time, and we're trying to give back," Dinte said.