Dr Mark Sinclair

The success and feedback of students in Mentor Education Group’s (Mentor) inaugural Real Estate Agents Representative Course (Victoria) has reaffirmed the national RTO’s opinion that property will continue to attract career aspirants as well as professional financial advisory practitioners seeking to position themselves for the future beyond the Royal Commission and FASEA said Mentor founder and managing director Dr Mark Sinclair.

Commenting further, Dr Sinclair said Australians have always had a strong affinity with the property market and it’s a key driver of the nation’s economy – in fact the ‘pulse’ of the real estate sector provides a good indication of the country’s economic prosperity and prospects.

“Every Australian every day is influenced by property as a place of work, living, entertainment, etc and thus can relate to it”, said Dr Sinclair.

“It’s also an aspiration as a family home; creates wealth by direct investment or property fund; as part of an SMSF or superannuation strategy; and for seniors can improve their financial position in retirement by activating the value in the home”.

“Quite simply the importance and influence of property to create wealth or support lifestyle ambitions is immense.”

Mentor’s Real Estate Agents Representative Course (Victoria) was developed in partnership with industry stalwart and principal of MAB5 Property Network Mr Mario Bertone.

Mario Bertone said, “The growth of Australia’s property market in the major capital cities has provided an incentive for many individuals to consider a career change into real estate, or to establish a business in this sector one day”.

“This was reflected in the diversity of reasons and backgrounds of the students that undertook Mentor’s property learning program i.e. some were already employed in the real estate sector and were upskilling; others looking to advance their careers – whilst others were seeking a new profession, to enhance their knowledge, and the list goes on”.

Interestingly, the diversity of the students also included age, sex, professions, aspirations and multicultural background added Mario Bertone.

“For financial planners, accountants and brokers the course provides two unique benefits 1) as an opportunity to improve personal knowledge and appreciation of inner workings of the property sector; and 2) the enhanced knowledge and literacy provides essential conversation starters to assist clients to identify needs, issues and aspirations”, said Dr Sinclair.

The course leaders (including Mario Bertone), are industry experienced experts in their respective fields and this was especially welcomed and appreciated by the financial advisory participants.

Enrolments for Mentor’s November Real Estate Agents Representative Course (Victoria) are well underway and Mario Bertone is confident student numbers will surpass the first program.

Dr Sinclair confirmed that plans were well advanced to launch the Certificate IV in Property Services (Real Estate) Victoria in 2019 for those graduates seeking to upgrade their skills and become fully licensed agents or principal licensees.

The post Mentor’s first real estate course a success attracting career aspirants & property advisory professionals appeared first on AdviserVoice.

Dr Mark Sinclair

In spite of the constant speculation and lobbying regarding the final FASEA requirements and the outcomes of the Royal Commission, a growing number of financial planning practice owners are ‘getting on with it’ and restructuring their businesses in readiness for the post 2024 era said Mentor Education Group founder and managing director Dr Mark Sinclair.

Commenting further, Dr Sinclair cited the ongoing uplift of planners amongst the ranks of enrolments in Mentor’s business and productivity programs, especially management, leadership and HR courses.  “Rather than expending energy resisting the forces of change that have engulfed the advice sector, there is a very solid and growing core of planners focussed on preparing their practices for the future”.

“Interestingly, planners are not alone in these academic pursuits with accountants, brokers, lawyers and real estate agents studying alongside them in these productivity improvement courses”.

Dr Sinclair continued, “Irrespective of FASEA’s announcement of the final makeup of the academic and ongoing professional development regime, there is little argument that advice practices will need to be far more client centric and efficient in order to thrive in the new environment”.

Thus, to be successful depends on two key factors.  First, innovation – adopting and applying new technologies, processes and management / HR practices.

Second, structural adjustment – whereby practice operational resources are shifted to the most productive sectors of the business in order to ensure exceptional client experiences are delivered with each client interaction without fail.

Hence the focus on productivity improvement and the key driver of advisory practice principals undertaking these study programs to improve their entrepreneurial proficiency and management skills.

“Repeated surveys have found that client centric businesses are far more profitable than those that are not.  Hence being a client centric business is the ‘Holy Grail’ of unlocking the potential and benefits for a financial advisory practice”, said Dr Sinclair.

“However, the reality is the shift towards becoming a truly client centric practice is both complex and time consuming”.

Far too often there is a disconnect between the vision and reality of all the elements required to deliver exceptional client experiences affirmed Dr Sinclair.  With the all-important keystone missing – the principal/owner buy in!

This is definitely not the case with the planner principals undertaking studies to improve their business, management and HR skills and expertise concluded Dr Sinclair.

The post Amid constant FASEA & RC speculation, more planners are taking control of their commercial futures appeared first on AdviserVoice.

Dr Mark Sinclair

Making sure the finance and mortgage broking industry continues to play its important role in the financial services sector is a crucial imperative for the long-term financial wellbeing of Australian consumers said Financial Consulting Australia’s principal Joe Mennea.

The industry has made significant advances implementing improvements to standards and record keeping with much more to come in the future.  These will significantly lift the standing and appreciation of the service provided by brokers affirmed Joe Mennea.

It’s a reflection of consumer confidence that today over 50% of mortgage finance is through brokers who assist people secure the right home loan needed for their property goals.

“Without doubt the most important service brokers have and continue to provide consumers is choice of lenders and finance rates/terms that in turn act to ensure interest rates – especially those of the major institutions – remain competitive”, said Joe Mennea.

“Looking at the bigger picture, recent reviews of the sector by government is welcome, however we must not lose sight that brokers provide their customers with confidence and good outcomes, in terms of competitive product offerings”.

However, it is a crucial necessity that the various reviews of the system and remuneration models doesn’t suffocate a remarkable industry that has been created on clients valuing the relationship, experience, understanding and choices provided by brokers.

Regardless of the review outcomes, the industry is going to change and broker practitioners need to be ready continued Joe Mennea.

“Entry level academic qualifications and accreditation supported by ongoing study and professional pathways to reflect importance of the industry can only serve to provide consumers with reassurance and confidence”.

Last year Mentor Education launched the Diploma of Finance & Mortgage Broking Management (DFMBM) and over 160 students undertook the course in 2017.  2018 enrolments have exceeded the RTO’s expectations and are a good indication of the future health of the sector.

Commenting further on the enrolment statistics, Mentor founder and principal Dr Mark Sinclair said over 1/3rd of the students were women and he expected this number will increase markedly in future intakes.

Another interesting statistic borne from Mentor data is the prominence of Gen Y students that have enrolled in the leading RTO’s Diploma course.

“It was inevitable that the broking sector would follow the financial planning industry and respond to industry and government pressure, market consolidation and heightened scrutiny in general”, said Dr Sinclair.

“Mentor has consulted extensively with the industry and professional associations to develop a course that is structured to address the needs of the sector.

“The content of the DFMBM has been structured to both assist current brokers as well as equipping and preparing the next generation with a solid footing, understanding and appreciation of a career in broking”.

Joe Mennea concluded, “The broking industry has reached a tipping point as the spotlight of attention intensifies.  Compliance and regulation will serve to ensure the professional evolution of the industry, strong governance and compliance regimes now in place together with academic and accreditation framework will position the industry for the future”.

The post Standing still is not an option for brokers determined to be successful practitioners in the future appeared first on AdviserVoice.