the voice - vow financial · vow academy webinar videos. the voice a regular publication from vow...

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ISSUE 11 May 2012 T: 1300 656 922 ABN 66 138 789 161 In this edition •Welcome from CEO •Vow National Conference 2012 •Vow Mini Conference wrap up • Compliance Update • Vow Academy • Industry Focus (Clive Kirkpatrick, St George) • Up Close (Anderson Vago, Rutherford Capital) • Pinnacle Club - March 2012 • Quick News The Ascent Program Upcoming Events Product Training Days June 5 – Sydney June 6 – Brisbane June 19 – Melbourne Vow Academy Webinars May 16 – Getting More Done in Less Time May 30 – Being More Effective June 20 – Being a Client Magnet National Conference October 24-26 – Phuket, Thailand Ponder this... “The golden rule for every business man is this: ‘Put yourself in your customer’s place’.” – Orison Swett Marden I attended the NAB Budget breakfast recently to hear what the Government had in store for the Australian public for the coming year. My assessment was more taxes and not a lot of vision for the Nation, basically more of the same. We live in a country that offers so much but successive Governments continue to waste what is one of the biggest mining booms in our short history. No money is been put into investing in Australia’s future and ensuring when we have dug everything up out of the ground and sold it off overseas that there will be something left for generations to come. We are an extremely well educated society by world standards but our scientists and engineers who continually come up with break throughs in technology, medicine and infrastructure have to go overseas for funding. Hopefully one day we will get a government who are willing to invest in our future. Did you know it was an Australian Engineer from CSIRO who invented WiFi and the Australian Government continues to benefit from his invention through royalties from some of the biggest technology companies in the world? This will add $430 million to the government coffers over the coming years. Not bad for one invention. The RBA finally worked out that the rest of economy (except mining) was actually going backwards and decided to reduce rates by 50bp, this was long overdue and I suspect will take three to four months to filter through to the economy. This will certainly help lift consumer confidence subject to China and America continuing to grow and the European economy not imploding. Vow Financial has performed extremely well over the last 12 months with increased market share, volumes continue to climb steadily and all bodes well for the rest of this year. It’s been a busy couple of months with the roll out of the IT system which is in its final stages of completion and a number of new initiatives on the horizon while focusing on cross sell of existing products now available to the brokers. The most important initiative to be completed in the next three to five months is the completion of the new commission system. The new system will be custom built to manage our varied commission offerings while allowing brokers to get a lot more information about their payments. This should be functioning in the next few months and we will run parallel systems for a period of time until we are comfortable the new system is functioning properly. The National Conference in Phuket, while still a few months away, is gaining momentum. We now have over 70 brokers and partners registered for the conference. With the Vow Broker Incentive Program in full swing and bonus points been paid for certain products we are expecting a lot more brokers to attend than last year. I will be travelling over the next 60 days across Australia and look forward to hearing stories of success which I will share in my next communication. Welcome to the 11th issue of The Voice. WELCOME Tim Brown CEO - Vow Financial A regular publication from Vow THE VOICE

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Page 1: THE VOICE - Vow Financial · Vow Academy webinar videos. THE VOICE A regular publication from Vow LICENSEES SHOULD REVIEW THEIR POLICIES AND PROCEDURES VOW ACADEMY ISSUE 11 May 2012

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

Page 2: THE VOICE - Vow Financial · Vow Academy webinar videos. THE VOICE A regular publication from Vow LICENSEES SHOULD REVIEW THEIR POLICIES AND PROCEDURES VOW ACADEMY ISSUE 11 May 2012

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

Page 3: THE VOICE - Vow Financial · Vow Academy webinar videos. THE VOICE A regular publication from Vow LICENSEES SHOULD REVIEW THEIR POLICIES AND PROCEDURES VOW ACADEMY ISSUE 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

Page 4: THE VOICE - Vow Financial · Vow Academy webinar videos. THE VOICE A regular publication from Vow LICENSEES SHOULD REVIEW THEIR POLICIES AND PROCEDURES VOW ACADEMY ISSUE 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.

Page 5: THE VOICE - Vow Financial · Vow Academy webinar videos. THE VOICE A regular publication from Vow LICENSEES SHOULD REVIEW THEIR POLICIES AND PROCEDURES VOW ACADEMY ISSUE 11 May 2012

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.”

Page 6: THE VOICE - Vow Financial · Vow Academy webinar videos. THE VOICE A regular publication from Vow LICENSEES SHOULD REVIEW THEIR POLICIES AND PROCEDURES VOW ACADEMY ISSUE 11 May 2012

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.