echoice Broker Academy

echoice Broker Academy About Us Established over 18 years ago, echoice has fast become a major digital brand that has helped over 50,000 Australians secure a home loan through a network of over 30 lenders, and hundreds of loan products. At echoice our core focus is to empower consumers with accurate and bestfit information on hundreds of loan products throughout the entire loan life cycle. Our brokers are dedicated professionals and experts in their field. Unlike our competitors in the industry, echoice is a boutique operator, servicing a niche and selective group of brokers. echoice s success and growth to date has been achieved by powering its brokers with the right levels of service, tools and support. echoice has continually been recognised as an industry leading organisation over a number of years. Award Winning Brand Winner 2013 ABA, Best Digital Presence Winner 2014 MFAA, Aggregator of the Year Award (Retail & Wholesale) Winner 2014 ABA, Boutique Aggregator of the Year Finalist 2015 & 2014 AB+F, Best Career Development Programme Finalist 2015 & 2014 ABA, Best Training and Education Finalist 2014 ABA, Best Innovator + Major Brokerage of the Year Franchise. What is the Broker Academy? Our Broker Academy is focused on fostering passionate and motivated entrants into the mortgage and finance industry. It is an intensive program which delivers core job ready skills that will enable you to succeed as an echoice Broker managing your own business and building a long term, tangible asset that is yours. The Broker Academy is a comprehensive program that consists of a range of flexible learning solutions tailored to meet your learning and lifestyle needs. Tailor your pathway by selecting from online tutorials, webinars, workshops, and self paced, all designed to get you job ready in the shortest possible timeframe. Joining the Academy Our Academy caters for both new entrants to the industry as well as those currently working within financial services. To join the Broker Academy you will require; Certificate IV in Finance & Mortgage Broking Please Note: echoice offers new entrants an option to complete IV in Finance & Mortgage Broking with our Industry preferred partner Kaplan Education MFAA or FBAA membership Professional Indemnity Insurance An ABN Credit & Investment Ombudsman (CIO) Membership Certificate. Additionally, you must meet the minimum requirements provided in the checklist outlined later in this pack. You will also be evaluated on your work history, skills and knowledge, and life experiences. What Does the Academy Focus On? At echoice, our success is attributed to the success of our Mortgage Brokers. Therefore, we are seeking motivated and capable participants who are looking for an opportunity that will set them apart. Our offering includes; 1. A comprehensive development program 2. Provision of a range of tools and resources 3. Ongoing one-on-one support. How Does the Academy Work? The Broker Academy commences with five intensive days of face-to-face workshops. Participants will be introduced to our partners to begin building those essential relationships. We also develop your skills in systems and processes we know to be most effective. Please Note: It is essential that all participants attend one full week of face-toface tuition in either our Sydney. Melbourne or Brisbane intakes. 1

Benefits of the Academy Helping You Grow Your Business Our focus is to help you manage and grow your business and build a sustainable, successful career within the industry. echoice gives you all the benefits of a national brand, industry leading tools, ongoing mentoring and support, licensing and compliance, without any franchise fees and marketing levies. We offer: Flexible Commission Models Access to High Quality Lead and Appointment Models (by invitation only - echoice Home Loan Manager) Award Winning Technology Award Winning Aggregation Model Support and Investment in Your Business Set & Forget Email Marketing Campaigns. Unique IT Platform A finalist at the Australian Broking Awards in 2014, FLeaTS (Fulfillment Lead Tracking System), is echoice s end-to-end technology platform designed and built in house by echoice s own development team. With ongoing updates and investments, it ensures our brokers are supported and empowered to service their clients faster, more easily and with greater care. FLeaTS technology platform and software will enable you to efficiently manage your own business as a mortgage broker, some of its features include; Loan Qualifier - Calculates client s borrowing capacity and loan qualification options Lead Management Tool - Start to end CRM, including email & SMS functionality Electronic Lodgement - e-lodgement via NextGen s ApplyOnline Brokerpedia Access industry related information like lender policies Australian Property Monitors - Improve client loyalty with free property reports CPD Training - Earn CPD hours & automatically track progress Commissions - Quick & easy claiming. Marketing Tools & Services echoice s award winning Marketing Team has developed the My Marketing Toolkit, giving you access to marketing tools and resources. These resources focus on providing you with the strategies, developments and tools you need to better grow your business. The My Marketing Toolkit assisits with building out your client aquisition, engagement and retention communication plan. Some of these tools include: Social Media Management - Outsource your social media strategy ewebsite Program - Promote your business with our one-stop-shop web solutions Set & Forget Email Campaigns - Automated retention campaigns RBA Email Campaigns - Access to industry commentary and promotions Property e-booklets - Educate your clients with access to segmented property booklets Community Marketing & Strategic Alliances - A range of customisable Community Marketing flyers Diversification Opportunity Programs - Make additional income with external partner referral programs. Meet A Past Graduate Griffin Czipri MPA YOUNG GUNS 2015 BANK WEST ROOKIE OF THE YEAR 2013 Blacktown, NSW At only 25 years of age, Griffin Czipri is a young and savvy broker who has outperformed in both client acquisition and sales. In 2013, Griffin secured more than $40 million dollars in loan volumes - well above the average volume of sales for most owner-operator brokers in the same category - and in 2013 booked between 30-40 appointments with new clients per month (with more than 80% of his clients being referred through echoice). The exceptional training and support I received at the echoice Broker Academy enabled me to hit the ground running in my broking career. The steady flow of highly qualified leads helped build my sales pipeline from day one, from which I now generate regular referrals from satisfied clients. 2

One Path, Many Entry Points Broker Academy Matrix Schedule We have one path with many entry points, so we cater to everyone. Work through the Question and Answer below to determine the best entry point for you! NEW STARTER QUALIFIED COMPLIANT ALMOST THERE Do you hold a minimum Certificate IV in Finance & Mortgage Broking? Do you currently hold CIO membership & Professional Indemnity Insurance? Are you currently a member of MFAA or FBAA? Do you have proven effective sales ability & working knowledge of our industry leading software? LET US SUPPORT YOU TO OBTAIN: Formal Qualification Minimum Compliance Requirements Industry Membership Proven Effective Sales & Process Skills Working Knowledge of Our Industry Leading Software Lender Accreditations. Minimum Compliance Requirements Industry Membership Proven Effective Sales & Process Skills Working Knowledge of Our Industry Leading Software Lender Accreditations. Industry Membership Proven Effective Sales & Process Skills Working Knowledge of Our Industry Leading Software Lender Accreditations. Proven Effective Sales & Process Skills Working Knowledge of Our Industry Leading Software Lender Accreditations. THE COST OF THE PROGRAM: $1,000 incl GST $1,000 incl GST $1,000 incl GST $1,000 incl GST *Not including Cert IV (if applicable), compliance requirements, industry membership and insurances. Please refer to the Getting Ready Checklist on page 4 for detailed break-down of all costs. 3

Before You Begin the Broker Academy Getting Ready Checklist Before you begin the echoice Broker Academy you will need to organise the following items: ITEMS REQUIRED 30 DAYS PRIOR TO COMMENCEMENT COST 1. Veda Credit File $80 2. National Criminal History Record Check $42 3. Registered ABN N/A 4. Certified Copies of Two Forms of Identification (One Photo ID) N/A 5. Personal Resume N/A 6. Application for Accreditation Form N/A 7. Authorised Credit Representative Statement N/A TOTAL UPFRONT COST FOR 30 DAYS PRIOR REQUIREMENTS $122 ITEMS REQUIRED PRIOR TO COMMENCEMENT 8. echoice Broker Academy $1,000 9. Certificate IV in Finance & Mortgage Broking with our preferred partner Kaplan Education $490 10. Professional Indemnity Insurance $700 11. MFAA or FBAA Membership Certificate $555 12. Anti Money Laundering Course Completion Certificate $210 13. Credit & Investment Ombudsman (CIO) Membership Certificate $125 14. Your Own Laptop N/A TOTAL UPFRONT COST FOR COMMENCEMENT REQUIREMENTS INCLUDING CERTIFICATE IV $3,080 ADDITIONAL RECOMMENDED ITEMS 15. Diploma in Finance and Mortgage Broking Management $490 16. Public Liability Insurance $200 TOTAL UPFRONT COST FOR ADDITIONAL RECOMMENDED ITEMS $690 GRAND TOTAL UPFRONT COST FOR ALL ITEMS INCLUDING CERTIFICATE IV $3,892 4

What You Need To Know 1/3 1. Veda Credit File Cost $80 This is the first part of our fit and proper person test and is a pre-condition to your appointment as an Authorised Credit Representative of echoice. The document you provide must be dated no earlier than three months prior to your application. Although you are able to request your Credit File for free through the Veda website, we recommend you pay $80 for the service so you can receive it via email the following business day, and also so you can keep track of your Credit File on an ongoing basis. Veda Credit File: http://www.veda.com.au 2. National Criminal History Record Check Cost $42 This is the second part of our fit and proper person test and is a precondition to your appointment as an Authorised Credit Representative of echoice. The document you provide must be dated no earlier than three months prior to your application. The cost for a National Police Check on an individual is currently $42. Information: http://www.afp.gov.au/what-we-do/police-checks/nationalpolice-checks.aspx Application Portal: https://afpnationalpolicechecks.converga.com.au 3. Registered ABN You will become a contractor to echoice Home Loans Pty Ltd upon your successful application to our Broker Academy program. To this end, you will be required to either: 4. Certified Copies of Two Forms of Identification (at least one Photographic ID) You will require copies of two of your current forms of identification certified by a Justice of the Peace. Of these, at least one must be a photographic document. We require that you provide either your current driver s licence or your current passport, and prefer that you provide both. If you cannot supply both, simply speak to us about what other forms of identification may be acceptable. 5. Personal Resume You are required to provide us with a personal resume in order to determine your suitability for the Broker Academy program. Your résumé must outline your complete previous work history and at least two work-related referees that we can contact via phone or email. 6. Application for Accreditation Form You are required to complete and return an Application for Accreditation form. When completed, please return via email to bsupport@echoice.com.au. 7. Authorised Credit Representative Statement These documents are supplied by echoice and we will forward these to you following your initial expression of interest in our Broker Academy program. a. Register yourself as a sole trader with your own ABN, or b. Create a Pty Ltd company with its own ABN and establish yourself as the director - please bear in mind that this option will require you to purchase two CIO memberships as per section 5. Australian Business Register: https://abr.gov.au 5

What You Need To Know 2/3 8. echoice Broker Academy Cost $1,000 (inc. GST) Graduate at the end of our Academy as a qualified and authorised Mortgage Broker Credit Representative of echoice, as well as accreditation with our top lenders. 9. Certificate IV in Finance & Mortgage Broking Cost $490 (inc. GST) In addition to the Broker Academy Program, completion of this qualification is a requirement of the industry in order to pursue mortgage broking as a career. This is the nominal cost of a Certificate IV in Finance and Mortgage brokering when completed with our industry preferred partner Kaplan Education. Please contact Kaplan Education on 1300 662 203 or email enrolments@ kaplan.edu.au to discuss our preferred partnership with Kaplan Education. 10. Professional Indemnity Insurance Approximate Cost $700 PI insurance is required in the event that a claim made against you through CIO or FOS resulting from your normal line of work as a broker is successful, and limits your personal liability for such claims. The minimum cover you will require is $2,000,000 per claim and $6,000,000 in the aggregate. You must also be covered for all activity related to providing credit assistance to borrowers, i.e. mortgage products and product referrals for personal loans, insurance, deposit bonds et al, and you must also purchase 84 months of runoff cover. 11. MFAA or FBAA Membership Certificate MFAA Initial Application Fee $555 The Mortgage and Financiers Association of Australia (MFAA) and the Finance Brokers Association of Australia (FBAA) are industry associations, and you are required to be a member of either body. Please be aware that the MFAA require you to have completed your Diploma in Finance and Mortgage Broking Management in order to qualify for membership with them. The FBAA only require you to have completed your Certificate IV in Finance and Mortgage Broking, but may place more stringent requirements on you around your eligibility for membership with them. The cost given here is the current sum total applicable to the initial application fee plus the annual fee for membership with the MFAA. The cost of membership with the FBAA can vary depending on your eligibility and level of broking experience. MFAA: http://www.mfaa.com.au FBAA: http://www.fbaa.com.au 12. Anti-Money Laundering Course Completion Certificate MFAA Initial Compliance Pack $210 You will be required to complete an Anti-Money Laundering course as part of your membership process with the MFAA or FBAA. We will require a copy of the certificate issued on completion of this course in order to meet our obligation to ASIC of ensuring you are competent in identifying attempts at money laundering or other forms of suspicious transactions such as terrorism financing. This is the cost applicable to the MFAA s online Initial Compliance Pack course, which contains an AML component. The cost given here is the approximate annual cost of a professional indemnity insurance policy specifically tailored for mortgage broking, which should cover all of the above. echoice has a preferred supplier agreement with Scott & Broad for PI insurance. Information including contact details and more accurate costings for their mortgage broking related insurance policies are available in a separate document. 6

What You Need To Know 3/3 13. Credit & Investment Ombudsman (CIO) Membership Certificate $125 Per Membership You are required to be a member of an External Dispute Resolution Scheme (EDRS) under the National Consumer Credit Protection Act 2009 (NCCP). In addition, ASIC requires all persons to be appointed as Credit Representatives to hold a current membership to an EDRS. As a Credit Representative of echoice, you are required to become a member of the same EDRS as the one echoice belongs to, which is CIO. The cost per membership to CIO is currently $125. Should you choose to be accredited with us as the director of a company rather than a sole trader, we will require you to purchase a second CIO membership for your company at an additional cost of $125. CIO: http://www.cio.org.au/ 14. Your Own Laptop In order to run FLeaTS Online, there are no system requirements, however you will ned access to the internet. 15. Diploma in Finance and Mortgage Broking Management Approximate Cost $490 Once you have completed your Certificate IV in Finance and Mortgage Broking, echoice recommends you complete a Diploma in Finance and Mortgage Broking Management in order to be better prepared for more complex lending scenarios. This is also a requirement of becoming a member of the MFAA. This is the approximate nominal cost of a Diploma in Finance and Mortgage Broking Management when completed via online e-learning modules. Costs may vary if you elect to study through a workshop or via distance learning. 16. Public Liability Insurance Approximate Cost $200 When you purchase your PI insurance, you will have the option to add public liability coverage to the value of $20,000,000 to your policy. echoice recommends you take this additional coverage, and it is usually available at an additional cost of approximately $200 depending on your insurer. 7

How Long Does The Process Take? Obtaining the necessary memberships, insurances and other compliance documentation you need to become a mortgage broker is a lengthy and complicated process. To expedite this process, echoice will provide you with a Letter of Intent to provide to CIO, your industry body of choice (MFAA/FBAA) and your PI insurer following your initial expression of interest in our Broker Academy program. There are a number of steps you can take to ensure your accreditation is processed with all speed: 1. Apply for your Veda Credit File and your National Police Check immediately. These often take a few business days to be processed and will be issued to you via email. 2. While you wait for the above documents to be issued to you, ensure your personal resume is as current as possible, and if required, update it with any missing information immediately. 5. Apply for membership to CIO and speak to your insurer about obtaining PI insurance. You will require your Letter of Intent from us to do this. In both cases, you should allow between five and ten business days from the day you initially enquire on these to the day you receive the required documentation. 6. Once you have all of the above, you are able to proceed with your membership application to the MFAA or FBAA. Either organisation will require around ten business days to finalise your application and issue you with your membership certificate. With all of this taken into consideration, you should allow a total of thirty days from the day you receive your application documentation and your Letter of Intent from us to receiving your MFAA or FBAA membership certificate. Please note costs quoted above are a guide only and subject to change. 3. Locate a Justice of the Peace in your area and arrange for them to certify your photographic identification as soon as possible. 4. Log on to either: https://www.mfaa.com.au/develop/pages/coursecatalogue.aspx or https://www.fbaa.com.au/aml and sign up for either: a. The MFAA Initial Compliance Pack, or b. The Anti-Money Laundering and Counter-Terrorism Financing Course provided by AAMC on behalf of the FBAA You are able to complete this part of the process without needing to apply for membership to either industry body, therefore we recommend you complete this step as quickly as possible. 8