It has been reported in some sections of the media that mortgage brokers are failing to adequately disclose the commissions they receive from lenders and that even borrowers are often unaware that they have to pay commissions. It is simply wrong.

Over the past twenty years or so the mortgage broking industry has evolved to ensure that clients come first and foremost. To ensure this, all brokers have to declare the commission they are receiving from the lenders as per the NCCP (National Consumer Credit Protection) regulations. It is a legal requirement.

Let me make a few more points:

• Most of the lenders mentioned in the Sunday Telegraph article do not even register on most aggregators lending panels;
• There is no penalty for terminating a loan early. If a client thinks they have been sold the wrong product, then that client can exit that lender without penalty;
• If the loan pays out early, the brokers commissions are clawed back for up to two years therefore discouraging the sort of behaviour they are suggesting is rife in the industry;
• More than 90% of all lenders volumes go to the majors who pay the lowest commissions;
• The vast majority of clients who deal with a broker get a better deal than what they are currently on and if the broker can't help they often suggest they stay where they are;
• Brokers are regulated and can be fined or even lose their licence for doing the wrong thing by clients

On a final word, let's focus on the real issue. There is not enough competition in the market and the government needs to break the oligopoly of the four major banks and back regional and international banks to ensure everyone is on a level playing field. The Government has been given a number of recommendations to improve competition in the Australian Mortgage Industry by the Mortgage Finance Association of Australia to a recent enquiry on the level of competition in the Australian Mortgage Industry. It's time to act and stop pretending there is competition in the Australian market.

About Vow Financial

Vow Financial represents more than 600 brokers across Australia and has loans under management of about $16.5 billion.

For all media queries please contact:

Matt Mitchener
Vow Financial
0431 749 685

Or

Nicholas Way
Shed Media
0409 585 979

The mortgage aggregator Vow Financial is enjoying a surge in mortgage brokers joining its ranks, with 13 broking businesses signing on since July 1.

Vow CEO Tim Brown says: "There is real interest in the market in joining Vow. After two years we have got some great traction, and it's now got to the stage where we have had to employ a specialist, Amy Dimech, as broking on-boarding manager, to handle the influx of broking firms entering our business.

"We have had a real focus on recruitment and we are starting to reap the rewards. It's a trend we expect to continue with a growing number of inquiries from broker groups looking to switch aggregators - anecdotal evidence of a trend that reflects a recent industry survey that showed that 44.8% of groups are looking at reviewing their current agreement in the next 12 months."

Reinforcing that anecdotal evidence is a pertinent comment by Paul Giezekamp, a director of the mortgage broking firm Property Secrets Pty Ltd and a broker with eight years' standing in the industry.

"I have had business relationships with a number of aggregators. While they were competent, they were never able to offer the customer service or the additional product range that Vow does. In addition, Vow made the change-over process simple and easy.

"Our move to Vow was calculated. We had evolved as a business to a point where we needed to partner with an aggregator that not only understands what we do, but what we need and want as well."

Brown says it's not just a matter of getting brokers to sign on. "It's critical that you make the transition process as smooth and quick as possible, so that brokers have no interruption to what they do best - writing business.

"This is why we have created a specialist position to handle the transitions, as well as restructured the business development management team, to make the process as efficient as possible."

Brown says that the Vow package of flexible commission offerings, a new product suite and a focus on service is making the aggregator - named Aggregator of the Year for the past two years - a destination of choice for brokers.

"There's no doubt that the inability of most aggregators only being able to offer one form of commission structure is alienating many brokers who are finding an individually tailored offering much more attractive. In addition, the products we offer allow our broker partners to both diversify their revenue streams as well as grow their businesses."

About Vow Financial

Vow Financial represents more than 600 brokers across Australia and has loans under management of about $16.5 billion.

For all media queries please contact:

Matt Mitchener
Vow Financial
0431 749 685

Or

Nicholas Way
Shed Media
0409 585 979

Vow Financial appoints new relationship manager to Vow Legal

One of Australia's leading mortgage aggregator, Vow Financial, today announced the appointment of Rosemarie Hunt as Relationship Manager to its legal arm, Vow Legal.

Ms Hunt has experience in the field of customer service for over 25 years. She will be responsible for the delivery of a range of services like online conveyancing and related legal services for the Vow broker and financial planning network nationally.

Rowan A. Astill, Managing Director of Vow Legal, said: "We are very pleased to have Rosemary join our company. She now joins our team of specialists who provide customised conveyancing services throughout Australia using cutting edge technology."

Apart from Vow Legal, Vow Financial has a number of other strategic partnerships, in line with its strategy to diversify and provide multiple products and services to its broker network. These companies include Vow Wealth and Vow Leasing.

About Vow Financial and Vow Legal

Vow Financial represents more than 650 brokers across Australia and has loans under management of about $16 billion.

Vow Legal is managed by the Astill Legal Group, with a particular focus on matters regarding property, finance, self-managed super funds, wills, estate law and relationships law.

For more information please visit: www.VowLegal.com.au

For all media queries please contact:

Matt Mitchener
Vow Financial
0431 749 685

Or

Simrita Virk
Shed Media
0434 531 172

The decision by Vow Financial, a leading mortgage aggregator, to add four non-major banks to its lending panel shows there is a trend in loan volumes away from the Big Four banks, says Vows Chief Executive Officer Tim Brown.

Brown says: Over the past few months we have definitely noticed a movement towards the non-major banks and other smaller and more innovative financial institutions, with 32% of our business now being done outside CBA, ANZ, Westpac and NAB.

This reflects the mood of the market whereby its not just the brokers who are looking for greater choice, but also their clients who are looking outside the more traditional financing options.

The four new lenders on Vows panel will be ME Bank, Adelaide Bank, Hemisphere Financial Solutions and Barnes Home Loans.

Brown says: ME Bank, owned by Australias leading industry super funds, are looking to provide a genuinely fairer banking alternative, and this seems attractive to brokers. A majority of brokers want to diversify their offerings and are ready to explore partnerships with other lenders.

More information:

Adelaide Bank has been operating for more than 100 years. In 2007 Adelaide Bank merged with Bendigo Bank, forming Bendigo and Adelaide Bank Limited (BEN), and ranks in the top six banks in Australia by market capitalisation.

ME Bank was created in 1999, to give industry super fund and union members better value banking and better service.

Hemisphere Financial Solutions is a Non Bank Lender that is focused on providing a broad range of home loan solutions with competitive interest rates. Hemisphere is the retail brand of RESIMAC Limited which has been operating in the Australian market since 1985.

Barnes Mortgage Management Pty Ltd trading as Barnes Home Loans is one of Queensland's longest established Non Bank Lenders.

About Vow Financial

Vow Financial represents more than 650 brokers across Australia and has loans under management of about $16 billion.

For all media queries please contact:

Matt Mitchener
Vow Financial
0431 749 685

Or

Simrita Virk
Shed Media
0434 531 712

Vow Financials strategy of giving its brokers every opportunity to diversify their earnings has got industry recognition with the aggregator winning the MFAA Wholesale Aggregator of the Year for the second successive year.

Vow Financial Chief Executive Officer Tim Brown says: Winning this award confirms to Vow that our strategy of offering our brokers different means to generate income in a difficult market environment is the correct one.
Initiatives such as Vow Wealth, Vow Legal and Vow Leasing are proving attractive to many of our brokers, and as such it makes Vow a stand-out in the aggregation space.

What makes winning this award for two successive years all the more meritorious is the fact Vow only has been eligible for the awards for the past two years, and its a tribute to our brokers and staff we have been able to achieve this.

The Wholesale Aggregator award is judged by a panel of Industry stalwarts who review each applicants strategy, information and communication.

Brown says: I had several people who were on this judging panel congratulate Vow on the quality of the submission and how much we had achieved in such a short space of time.

The MFAA awards were held on Friday night at the Westin Hotel in Sydney before more than 400 industry participants.

About Vow Financial

Vow Financial represents more than 650 brokers across Australia and have loans under management of about $16 billion.

For all media queries please contact:

Matt Mitchener
Vow Financial
0431 749 685

Or

Simrita Virk
Shed Media
0434 531 712

The mortgage aggregator, Vow Financial, has launched Vow Academy to offer free, interactive webinar seminars aimed at improving its mortgage brokers skills.

The webinars will be hosted by professional presenter David Staughton who will deliver 12 informative one-hour webinars. These are not exclusive sessions and will be open to all brokers within the industry to view. Brokers outside of the Vow Financial network can access the webinar events through their Facebook page.

These sessions form part of Vow Financials event program with over 80 events developed nationally for its broker partners. The webinars will be building on this professional development platform for 2012 and beyond.

Vow Financial CEO Tim Brown says: We really believe in empowering our brokers by offering them the best tools to enhance their skills and knowledge. 2012 will be a challenging year for the mortgage broking industry, and we want to give our brokers the best possible professional development to afford them every opportunity to deliver their best results.

These one-hour webinars, spread over the year, will be highly motivational in tone. We are pleased to have signed up David Staughton to be the host who brings enormous experience to this role, as well as offering sessions that will be extremely lively and interactive.

With more than 20 years experience in a broad range of industries, David is a professional presenter and an expert on how to make small businesses work. A successful businessman and entrepreneur, he is also a contributing author of two best-selling books for small businesses.

The first of these webinars will be held on February 1, February 15 and March 8. These sessions will run through a brokers lunch-time and will cover areas such as:

• Get a game plan - planning to achieve your goals
• Making connections count - working with alliances to get more leads
• Extra sales made easy how to diversify a single sale
• Adopt a winners mindset - energise yourself to attract more sales

About Vow Financial

Vow Financial represents more than 650 brokers across Australia and have loans under management of about $16 billion.

For all media queries please contact:

Matt Mitchener
Vow Financial
0431 749 685

Or

Simrita Virk
Shed Media
0434 5311 712

The mortgage aggregator, Vow Financial, has launched Vow Legal, to provide online conveyancing and related legal services for its broker and financial planning network.

Tim Brown, Vow Financial CEO said: The launch of Vow Legal is in line with our strategy to diversify and provide multiple products and services to our brokers, making sure that all of their clients needs are looked after.

Vow Legal will be managed by the Astill Legal Group, a group with a national presence founded almost 40 years ago.

Vow Legal will have a particular focus on matters regarding property, finance, self-managed super funds, wills, estate law and relationships law. It will also assist the Vow team with commercial and technical advice for all business dealings and structuring needs

Rowan A. Astill, Managing Director of Vow Legal, said: Over the past decade there has been an increase in the level of complexity and skill required to complete a property transaction.

Our practitioners have more than 40 years of collective property law experience, providing an exemplary professional service. As well, our bespoke systems software allows the brokers to track the progress of the conveyance online, to provide peace of mind for clients.

Vow Legal prides itself on being at the vanguard of technology and our online conveyancing service means that geography is no barrier to us providing specialist conveyancing services throughout Australia, he added.

About Vow Financial

Vow Financial represents more than 650 brokers across Australia and has loans under management of about $16 billion.

For all media queries please contact:

Matt Mitchener
Marketing Manager
Vow Financial
0431 749 685

Simrita Virk
Shed Enterprises
0434 5311 712

The recent move of mortgage aggregator Vow Financial into the wealth management space has been strengthened by the opening of its second Sydney office in Parramatta.

Vow Wealth Western Sydney will offer the same exclusive support and products to a select number of Vow Financial brokers to help them expand their business into wealth management.

The Western Sydney office is part of a push by Vow to create similar partnerships around Australia over the next few months.

Vow Wealth national sales manager Justin Dale says the companys latest development shows that an aggregator recognises the need for diversification to help brokers grow their business from beyond offering just mortgages.

Vow Wealth can now offer a full financial planning structure to brokers that includes mortgages, insurance and wealth management, he says.

We have initially chosen a select number of brokers who have shown interest in moving into the wealth management area, and, at the same time, we have also taken a lot of inquiries from other brokers outside out network who are interested in what Vow Wealth is offering.

Stepping into the wealth management business allows our brokers to offer more services and products. Because the market is changing so rapidly, diversification is the key to survival. We want to be there with the brokers on this journey.

Mr Dale says Vow Wealth can facilitate the education opportunities required for brokers to go down the path to a full financial adviser business.

The new Parramatta office is the second in a joint venture partnership model in Sydney, with an existing office at Crows Nest in North Sydney.

We are looking at similar partnerships to be rolled out around Australia in the next few months, Mr Dale says.

In early November we will open a Perth office, followed in mid-November for an office to service the Hunter region and Central Coast.

Vow Wealth offices were also being planned for Victoria and Queensland.

To kick off the latest office, Vow Western Sydney will run a consumer SMSF event in Parramatta on November 8, titled Buying Property through your Super Fund, for brokers and their clients.

Property is one of the niche focuses of Vow Wealth and we will present an all encompassing look at the sector for the benefit of brokers self-managed super fund clients, Mr Dale says.

The move was welcomed by Vow Financial CEO Tim Brown, who adds: Offering clients multiple products and services will further cement the relationship between brokers and clients and help protect clients from brokers competitors.

For all media queries please contact:

Matt Mitchener
Marketing Manager
Vow Financial
0431 749 685

The mortgage aggregator, Vow Financial, has appointed Margaret Fraser the State Manager for Western Australia, South Australia and the Northern Territory.

Margaret, who has a strong commercial background and more than 10 years experience in the mortgage and finance Industry, will bolster Vow Financial as it expands into these states and territory.

Margaret previously worked for herself in a start-up business, managed a franchise through LJ Hooker Home Loans and, for the past five years, has built the Elders Home Loans presence in WA as State Manager.

Margarets role will be to pursue business growth of the Vow Financial network in WA, SA and the NT while implementing key diversification initiatives among the broker network.

Margaret has a Diploma in Financial Services (Financial Planning) and a Certificate IV in Financial Services (Finance / Mortgage Broking).

The mortgage aggregator, Vow Financial, has recruited an experienced and qualified Compliance Manager, Jack Czechowski.

Jack bolsters the Vow Financial team with 10 years experience in the mortgage & finance industry. Previously, Jack has worked with Count Financial, Suncorp & the first mortgage aggregator in the United Arab Emirates Gulf Lenders Network.

Jacks role will include monitoring the compliance, managing the licenses and implementing policies for the Vow broker network.

Jack has a Diploma in Lending, Certificate IV in Finance & Mortgage Broking and is a Certified Associate in Project Management.

The mortgage aggregator, Vow Financial, has joined forces with Allianz Australia in a move that gives its brokers the opportunity to earn ongoing income by being able to offer insurance services to their clients.

Allianz Australia, a subsidiary of one of the largest general insurance providers in the world, will offer all housing-related insurance products to the clients of Vows brokers at competitive rates. The agreement between Vow and Allianz was completed in May.

Vow chief executive officer Tim Brown says: In a difficult economic climate for brokers, its important that we find alternative sources of income for them and thats exactly what this partnership with Allianz achieves.

Already a healthy percentage of our brokers are using Allianz, and we expect more to join up as they come to appreciate Allianzs competitive offering in this market.

Allianz Managing Director, Terry Towell, says: We are pleased to partner with Vow Financial to provide a general insurance solution for their network.

Insurance is an important consideration when taking out a home loan. It is in both the brokers and borrowers best interest to put in place an appropriate insurance solution and ensure protection is in place. Allianz provides a simple, low touch insurance service that allows the broker to deepen their relationship with the customer, as well as earn additional income.

Vows decision to link up with Allianz is part of a determined push by the aggregator to diversify its brokers sources of income.

Recently it entered the financial services space by setting up Vow Wealth Management, a joint venture with a financial planning firm. Vows longer-term goal is to set up more joint ventures with like-minded financial planning firms.

Vow also offers its brokers the opportunity to offer their clients vehicle and equipment financing.

The mortgage aggregator Vow Financial remains strongly committed to its growth strategy with two key appointments.

Justin Dale will head its new division, Vow Wealth Management, which has just opened its doors for business, and Leighton King has been appointed Business Development Manager.

Justin, who has worked for Macquarie Bank, Citibank and Westpac, brings a wealth of experience in third party distribution and mortgage broking to his new role.

Justin says: Its very exciting to join the Vow team, and to head up its new wealth management arm. In my previous role at Macquarie I successfully introduced the Macquarie Mortgage Guard product into the third party broking market, and at Citibank I was the NSW/ACT State Manager for Third Party Sales.

In these roles I got to know many of the Vow brokers, and I am now looking forward to working with them to expand their offerings into financial planning.

Leighton had roles at Aussie, South Western Financial Services, GE Finance and Westpac on his CV, and brings proven leadership and communication skills to Vow.

As a manager whos passionate about business growth and commitment to service excellence, Im really looking forward to embracing the challenge of being an integral part of the team that is determined to increase Vows market share, he says.

Vow Financial chief executive officer Tim Brown says: Justin and Leighton are welcome additions to Vow. Their experience and knowledge will prove invaluable as we expand our business.

The mortgage aggregator, Vow Financial, is giving its brokers another opportunity to diversify their range of services to clients and develop new income streams by moving into the financial services space with the setting up of Vow Wealth Management.

Vow Wealth, which has opened for business under the stewardship of newly appointed National Sales Manager Justin Dale, is a joint venture with a successful financial planning firm. But longer term the aim is for Vow Wealth to have its own financial planning dealers licence.

Vow chief executive officer Tim Brown says: Vow has always planned to push into financial planning, especially around the property sector, and Vow Wealth allows us to do this.

It will enable our brokers, if they chose to do so, to fill in all those voids involving property transactions, such as risk insurance, investment advice and superannuation; in short, our brokers will be able to comprehensively build and protect their clients assets while protecting their client from other cross-sell opportunities.

Brown envisages Vow Wealth engaging with its brokers at three levels:

1. Straight referrals: About 70% of Vow brokers will never be financial planners and will continue to focus on home mortgages. They will offer referral advice for their clients.
2. Limited financial planning advice: About 20% of brokers will want to offer some financial planning advice, such as risk insurance, but not the full range of services. These brokers will be RG146 compliant.
3. Complete financial planning advice. About 10% of brokers want to become financial planners and Vow Wealth wants to help them go on that journey to become fully qualified.

Brown says being able to offer financial services with property as its focus was always on Vows agenda. But what has surprised me as I talked to our brokers was how many of them really wanted to get into this field to diversify their businesses and develop other revenue streams.

Theres also been a sentiment among brokers that financial planners have been encroaching on their territory, and as such we believe this strategy will help brokers quarantine their clients.

The Vow Wealth initiative comes hard on the heels of Vows recent decision to give its brokers the opportunity to offer clients vehicle and equipment financing.

Home buyers searching for the best deal on home mortgages and people just interested in the property market can now have all the information they need on their iPhone and iPad, thanks to mortgage aggregator Vow Financial.

My Mortgage Kit has been developed as a Vow Financial application that includes mortgage calculators and other financial tools for those who want know the best deals in mortgage finance no matter where they are.

The free application, currently ranked in Apples store as New and Noteworthy, allows users to calculate stamp duty in all states and territories; how much they can borrow; home loan repayments; budget planner; loan comparisons; and extra payments calculator.

Also included are a moving home checklist; document checklist for applying for a loan; a jargon buster dictionary of property terms; steps to buying a home; the latest finance news; and the capacity to email all results from their calculations to their computers.

Vow Financial Marketing Manager Matt Mitchener says the application has been developed for Australian consumers who are interested in buying a home or property.

Its a great tool for Australians looking to buy their first home, invest or refinance, or for just looking at what else is out there. People working in the mortgage finance industry will also benefit from this innovative tool.

It will give all brokers, real estate agents, conveyancers, accountants and others in the industry a tool to use while on the road, Mitchener says.

Once again it shows Vow Financial is at the cutting edge of innovation in this industry.

The application is the first version and Vow is looking at improving and building this application in the future.

Matt Mitchener says that Apple was chosen as the platform because IDC Australia acknowledged it as having a 40% market share of the Smartphone market less than one year ago.

The Android market is growing and we will look at the market share growth before we unveil plans to release an Android-based version of the application, he adds.

To download the application go to:
http://itunes.apple.com/au/app/my-mortgage-kit-free-version/id427885961?mt=8

About Vow Financial

National Brokers Group, The Mortgage Professionals and The Brokerage merged in early 2010 to create a new force in the industry, Vow Financial - a company founded on a solemn promise of empowerment, change and leadership. Vow Financial represents brokers across Australia and has loans under management of about $16 billion.

Vow Financial announced today that Jeff Zulman will step down from his position as Chief Executive at the end of 2010 and be replaced by industry stalwart, Tim Brown.

Jeff was engaged in mid 2009 to assist the founders to develop a merger concept for mortgage aggregators, facilitated the merger and served as the incumbent CEO to guide and implement the early stages of the merged entity Vow Financial.

Vow Chairman Dr Peter Neustadt said: The directors of Vow are very grateful for Jeffs contribution over the past 18 months in assisting to realise the concept of a merged group of mortgage aggregators. A significant amount of work was done since the merger took place, addressing all aspects of our business changing the organisation of the three companies, introducing new branding, marketing concepts, and new initiatives to benefit our brokers.

These include our training joint ventures with Kaplan Financial and AAMC under the industry leading Ascent broker development program; launching our Pinnacle Club and V Growth points reward scheme for brokers; evaluating acquisition opportunities and finally utilising his IT background to select and help architect our new Alice IT platform.

By the end of 2010 the foundations for most of Vow Financials future will be largely in place, allowing Vow to become a significant entity, not just as one of the largest national mortgage aggregators, but also as a modern, dynamic, and broad-based financial services company.

The Vow directors thank Jeff for his achievements as initial CEO and express their gratitude to him for making himself available in future in a consultancy capacity.

The board has appointed Tim Brown to serve as new CEO of Vow Financial from January 2011 onwards. After five years with Macquarie Bank Tim Brown has resigned from all his positions at MBL to take up his new position at Vow Financial.

Tim is a well known and most respected person in Australias finance industry with a very successful track record as a senior executive mostly in marketing and sales related areas - at Macquarie Bank, L. J. Hookers Home Loans, Suncorp, Aussie Home Loans and AVCO (now GE Finance).

It is a great achievement for Vow and an endorsement of our business concept to have been able to convince Tim Brown to accept the position of CEO of Vow. Tim comes with tremendous experience and knowledge of this industry. His impressive record of nearly 30 years in marketing and sales related positions in the mortgage and general finance industry have made him the stand out candidate to build on the foundation laid. We wish Tim success and all the best of luck in building a meaningful national financial services company over the next few years said Peter Neustadt.

About Vow Financial

National Brokers Group, The Mortgage Professionals and The Brokerage merged in early
2010 to create a new force in the industry, Vow Financial - a company founded on a solemn
promise of empowerment, change and leadership. Vow Financial represents over 700 brokers across
Australia and has loans under management of about $16 billion as at December 2009.

A team of cyclists from Vow Financial got on their bikes and raised more than $13,648 for The Smith Family charity at this years Around the Bay in A Day in Victoria.

The five-member crew, which included Vow Financials CEO Jeff Zulman, is now placed 9th overall on The Smith Familys fundraising leader board, contributing to a $1 million total to be used to help disadvantaged children.

Thousands of riders of all ages cycled on sections or the entire route around Port Phillip Bay on the October 17 event.

The Smith Familys Victorian General Manager Heather Le Roy thanked Vow Financial for its tremendous support in 2010.

Were delighted to see a team from Vow Financial riding in the event this year and going the extra mile to help The Smith Family reach its $1 million target, she said.

Thanks to this support, we can give 34 disadvantaged primary school children a range of learning and personal development opportunities, such as access to tutors and mentors, to support their education and help them reach their potential.

Vows marketing manager Matt Mitchener said: We not only had a great bunch of dedicated and determined riders, but also fantastic support from our broker and business network partners who got behind such a great cause.

The Vow Financial team was proudly supported by Beam Corp and Citibank.

To sponsor Team Vow Financial, or find out more go to http://aroundthebayfundraising.com.au/?Vow+Financial+Team

About Vow Financial

National Brokers Group, The Mortgage Professionals and The Brokerage merged in early
2010 to create a new force in the industry, Vow Financial - a company founded on a solemn
promise of empowerment, change and leadership. Vow Financial represents brokers across
Australia and has loans under management of about $16 billion as at December 2009.

The mortgage aggregator Vow Financial has broken fresh ground by establishing an exciting arrangement with the computer giant Dell to get its brokers large discounts on computers.

The deal Vow has entered into with Dell means brokers will get discounts on Dells computer packages ranging from 10 per cent to 40 per cent.

Vow CIO Alan Gibbons says: This is an enormous benefit for our brokers. Their computers are obviously an integral part of their business, and to be able to get significant discounts will be an enormous saving.

I suspect many brokers have been delaying upgrading their computer systems, waiting to see how business would pick up in the wake of the GFC, and this could be just the incentive they need to modernise their systems.

Gibbons says the agreement with Dell has emphasised making it extremely easy for brokers to buy a computer. They can order directly through the Vow website and have the computer delivered directly to their office. In addition, they get a three year premier service agreement provided by an Australian-based call centre, he says.

About Vow Financial

National Brokers Group, The Mortgage Professionals and The Brokerage merged in early 2010 to create a new force in the industry, Vow Financial - a company founded on a solemn promise of empowerment, change and leadership. Vow Financial represents more than 900 brokers across Australia and has loans under management of approximately $16 billion as at December 2009.

The professional development of Vow Financials mortgage brokers has entered the digital age after a ground-breaking deal was signed with professional education and training firm Kaplan Professional.

Vow brokers will now be able to access accredited professional development material at their convenience via Kaplans online training program OnTrack.

The training package is the first to be designed exclusively for a mortgage aggregator in Australia.

Its a revolutionary way to maintain our commitment to our brokers to help them grow their business, Vow Director Mike Nicholson says.

Brokers will be able to access the latest and best available material on mortgage broking that will help them facilitate their ASIC licensing requirements.

Kaplan Professional National Sales Manager Brian Knight says the online program records and assesses the brokers understanding of the material that counts towards their professional development requirements.

This state-of-the-art system ensures continual professional development for Vow brokers that can be accessed any time, any day even those quiet times when the kids are in bed, he says.

We have a team of writers who will deliver the latest information on the mortgage industry, including whats happening around the world, to ensure Vow brokers are trained with the best and most up-to-date material.

The online professional development system will allow brokers to accumulate CPD points to meet regulatory licensing requirements.

Marketing Manager Matt Mitchener says Vow brokers will be able to get a complete briefing and demonstration of how the system works at Vows National Conference on October 12-14.

Vow chief executive Jeff Zulman says the deal with Kaplan highlights the commitment his firm has made from its inception earlier this year to listen to what brokers had to say about their profession.

This is another innovative step from Vow to ensure its brokers receive the best possible professional development training, he says.

Once again, we have responded with a service that can help them achieve their goal to grow their business and meet their regulatory obligations.

About Vow Financial

National Brokers Group, The Mortgage Professionals and The Brokerage merged in early 2010 to create a new force in the industry, Vow Financial - a company founded on a solemn promise of empowerment, change and leadership. Vow Financial represents more than 900 brokers across Australia and has loans under management of approximately $16 billion as at December 2009.

Mortgage brokers are keenly embracing a new rewards program being offered by the mortgage aggregator, Vow Financial.

The program allows brokers to earn points to redeem against a host of business tools and professional development programs on Vows Menu of Services clearly setting Vow apart from its competitors.

Ian Jordan, Director of the Sydney-based Mortgage Selector, said: This program is a tremendous innovation from Vow. The rewards I can earn actually help me grow my business. Its not a frivolous add-on but a well-designed program that will allow brokers to add value to their businesses.

Robert Brand, Managing Director of Tassie Home Loans, said: There are tangible benefits from this program. For my part I aim to use the program for staff development, and thats obviously going to benefit my business.

Vow launched the program to be an integral part of its business philosophy of empowering brokers.

Vow Chief Executive Officer Jeff Zulman said: When we established Vow we made a strong commitment to our brokers that we would empower them, and this rewards program is an important part of this process.

As competition in this market grows, we firmly believe such a program will be a defining point of difference for brokers when they decide which aggregator deserves their business.

The program, called the V Growth Club, has been devised to empower, grow and strengthen broker businesses and motivate individual brokers to reach their goals.

By accumulating points through business growth and earning bonus points through improving personal development and increasing business efficiency, brokers will be able to select from the Menu of Services that include software packages, marketing materials and legal advice.

There are five ways brokers can earn points. They are:

Diversifying into non-mortgage products;
Professional development gained by attending Vow events such as its Leading Edge Series;
Signing up for Vow business services that increase efficiency;
High performance based on past and current growth;
Three years of continuous business growth.

Marketing Manager Matt Mitchener said: In essence, you earn points growing your business with Vow.

Every six months we compare your business growth in newly settled loans to the same period the previous year and reward that growth with V points. The more you grow, the more V points you receive.

Brokers need to be within our top 250 performing brokers to be eligible for the V Growth Club. Once eligible, there are four levels within the program the higher you climb, the more rewards you receive.

Zulman said it was important to note that brokers could earn V points outside the traditional route of increased mortgage sales. Its our belief that diversification, increased efficiency, and educational attainment, are just as important and should be recognised in this program.

This industry is becoming more complex, and under greater regulatory scrutiny than ever before, and in this environment its critical for brokers to continue their personal professional development and be encouraged to diversify their earnings streams.

About Vow Financial

National Brokers Group, The Mortgage Professionals and The Brokerage merged in early 2010 to create a new force in the industry, Vow Financial - a company founded on a solemn promise of empowerment, change and leadership. Vow Financial represents more than 900 brokers across Australia and has loans under management of about $16 billion as at December 2009.

Australias newest mortgage aggregator, Vow Financial, welcomed their ten top broker principals to an elite roundtable event in Sydney.

Members of Vows Pinnacle CEO Club brought together Vow Financial management and the top performing brokers for a day of turbo-charged sessions with experts and motivational speakers for Vows Ascent Program, which culminated in a Sydney Harbour Bridge Climb and dinner at Fort Denison.

The exclusive club members were treated to insights into IT developments for brokers; business coaching; marketing in the digital age; regulation and compliance update; and information about a soon-to-be-revealed rewards program devised by Vow.

The Ascent Program is another innovative step taken by Vow to highlight its commitment to better broker service and rewarding the top achievers of the group

Our promise is to listen to our brokers and respond with a service that can help them achieve their business goals, Vow chief executive Jeff Zulman said.

Channel Nine sports presenter Stephanie Brantz came along and provided insight into leadership strategies for our brokers.

The Pinnacle Club through The Ascent Program was another step in an increasingly long line of initiatives Vow is taking to help its brokers grow their businesses further.

The event was sponsored by BankWest.

About Vow Financial
National Brokers Group, The Mortgage Professionals and The Brokerage merged in early 2010 to create a new force in the industry, Vow Financial - a company founded on a solemn promise of empowerment, change and leadership. Vow Financial represents brokers across Australia and has loans under management of circa $16 billion as at December 2009.

The newly formed mortgage aggregator, Vow Financial, will put its money where its mouth is on a service guarantee to Broker Partners to call back within four business hours, or $100 will come their way.

Vow Marketing Manager Matt Mitchener says the move was a powerful statement that gives Vow a point of difference by assuring our Broker Partners of our commitment to our quality of service.

To our knowledge, Vow is the only aggregator to offer this guarantee to its broker network. We have promised to listen and respond to their needs.

Vow guarantees that in the event a Vow Broker Partner leaves a message for a Vow representative, the call will be returned within four business hours, otherwise the Broker Partner will pocket $100, no questions asked.

The move is another innovative step taken by Vow to highlight its commitment to better broker service.

The company was founded on a solemn promise of empowerment, change and leadership, says Vow chief executive Jeff Zulman.

At Vow, our culture not only reflects the essence of our business empowerment for our brokers - but a genuine commitment to be innovative, responsive, accessible and fair, he says.

Our national coverage and flexible structure means the team can offer greater access, guaranteed response times and ongoing consultation.

Vows continuing commitment to improving service to its broker partners is based on feedback gained from hundreds of hours of consultation with Vow brokers which revealed there were many brokers who were unhappy with service and by the way they were treated by other mortgage aggregators.

Responding to this research, Vow has created a culture that is frank, no-nonsense and different from other messages heard or seen in the industry today.

About Vow Financial
National Brokers Group, The Mortgage Professionals and The Brokerage merged in early 2010 to create a new force in the industry, Vow Financial - a company founded on a solemn promise of empowerment, change and leadership. Vow Financial represents more than 900 brokers across Australia and has loans under management of about $16 billion as at December 2009.

Australias fifth largest mortgage aggregator, the newly formed, Vow Financial, has a new advertising campaign the result of spending over 500 hours listening to brokers around the country.

The idea behind the print campaign is essentially to use the feedback gained from the research Vow conducted with brokers and to emphasise that Vow is the first aggregator business deliberately founded and shaped in response to its brokers needs.

Jeff Zulman, CEO of Vow says Our research revealed that there are a lot of brokers who are unhappy with their current work circumstances, service and the way they are treated. At Vow, we are working to change that. The new campaign underscores our message that we are attuned to the sentiment of many brokers including our own and this is an open dialogue between Vow and the industry.

Simply put, the messages in this campaign say that Vow is listening to the brokers. The feedback from the brokers gave our creative team an opportunity to create rather unusual messages with a unique tone of voice that only a new player like Vow, with its frank, no nonsense attitude and approach, can substantiate. This is very different from the current messages heard or seen in the industry today.

The new advertising campaign is breaking in the mortgage broking industry press and online on 1st May 2010. The media activity is a three month launch campaign, including print advertising in MPA and Australian Broker magazines and banner ads running on the Brokernews website and e-newsletters.

Olivia Hannah Creative Consulting (OHCC) was engaged in August 2009 for the brand creation of Vow Financial. OHCC were responsible for the brand strategy and positioning, naming, identity and creative execution of all launch elements.

The advertising creative was developed by Andy Firth and Gary Cunliffe at Mammal and the brand designer was Mark Taffs.

Winner Michael Calam, of Vision Mortgage Solutions on the Gold Coast, said his entry was inspired by the name Vow Financial. It implied trust and integrity, both for brokers and our clients, he said. I wanted to maintain that line of thought, which is a powerful message, while re-iterating to the brokers within the network that the focus was upon their business and their aspirations. So, I went with Your business, your goals, our promise.

Michael added his focus was on the idea that Vow supported its brokers to achieve their personal goals, and the promise continues the implied message from the name of the group.

The Top 5 taglines from the competition selected from more than 200 entries - will share the spoils of a $5000 prize. The tagline competition coincided with the launch parties for the Vow Financial brand in Perth, Newcastle, Melbourne, Brisbane and Sydney.

The tagline was released at the finale at the Star Room, Darling Harbour, Sydney. Vow Financial CEO Jeff Zulman said: As you know, Vow exists to put our brokers in control of their business success. The tagline competition was one way of showing brokers that Vow promises to listen to their needs and responding with a relevant, valuable and custom-made service.

"We could have approached an advertising agency and paid them $5000 to engage copywriters and craft a catch phrase. But instead we kept it in the Vow family, engaged the minds of our brokers and are delighted with the over 200 responses we received. Michaels tagline was the pick of a super bunch Jeff said.

About Vow Financial
National Brokers Group, The Mortgage Professionals and The Brokerage merged in early 2010 to create a new force in the industry, Vow Financial - a company founded on a solemn promise of empowerment, change and leadership. Vow Financial represents more than 900 brokers across Australia and has loans under management of about $16 billion as at December 2009.

The combined business represents more than 900 brokers across Australia and has loans under management of about $16 billion as at December 2009, making Vow one of the five largest mortgage aggregation businesses in Australia.

Vow also unveiled the appointment of Dr Peter Neustadt as the independent nonexecutive chairman.

Dr Neustadt has a long, successful career as an entrepreneur, chief executive and chairman in industries as diverse as financial services, media and entertainment, technology, property development, hospitality and health. He came to Australia in 1980 when the late Kerry Packer recruited him from the international management consulting firm McKinsey & Company in Europe to join the executive board of Consolidated Press Holdings. From the mid-1980s Dr Neustadt began to build businesses both in the private and publicly listed sectors.

Vow Chief Executive Officer Jeff Zulman said: This is an exciting development for mortgage brokers, an aggregator that brings to the market the promise to empower brokers, initiate change and demonstrate leadership.

This is precisely why we chose the name Vow. It reflects our commitment to changing how the industry operates by giving brokers back control of their destiny. When brokers join our group, we promise to listen and vow to respond. He said: Building on the strong reputations of the three aggregators, Vow promises to deliver to the mortgage broker over time economies of scale without losing the personal touch, better allied services, IT excellence, and a compliance structure fully capable of handling the increased regulation in the industry.

He said Vow appreciated that the industry was constantly changing. In an environment where there is less lender competition, commissions have been reduced, and lending volumes are falling, its critical that we listen to our brokers and their clients, constantly getting their input into how we can improve their businesses.

Mr Zulman said once the merger had been bedded down, value and income growth would be a priority. Initially, we are looking to increase value through internal growth and acquisition of other mortgage loan aggregators. Longer term our ambition is to diversify the business into the broader financial services sector and offer nonmortgage products.

Dr Neustadt said: I am excited to join the board of Vow and by the opportunity to participate in building a new company in the financial services industry.

Vow intends to be the cause of a fundamental shift in the industry by recognising that brokers needs are the heart of our business and brokers must be empowered to regain control of their future.

Vows promise to empower brokers will make it the first aggregator thats been deliberately structured to respond to their needs. It means that brokers get to choose their level of service, determine the extent to which they diversify, control the number of products they access, select their commission structure and even select the number of applications they plug into their Vow CRM platform.

Mr Zulman acknowledged the role Macquarie Bank played in facilitating the formation of the new group: It has been a lengthy process to ensure that the values and commitments of the three founding businesses are retained and built on.

These are businesses that have grown handin-hand with their brokers for more than a decade. Their success is in no small part a function of the relationships that have been built over this time, relationships that needed to be respected and encapsulated. Macquarie contributed an independent perspective and considerable experience and helped to facilitate the best structure to ensure this outcome, he said.

Macquarie Bank Limited holds a minority interest equating to less than 20 per cent of the Vow group. The founding aggregators, Dr Neustadt and Mr Zulman hold the rest of the shares.