During the conference you will have the opportunity to meet, network and participate in focus group sessions whilst building stronger business relationships. FAST is one of the very few aggregators who host such an event due to our strong and experienced membership of Commercial and Asset Finance specialist writers.

These high achievers will receive an all expense paid invitation to attend this professional & quality event.

The high achievers will receive an all expense paid invitation to attend this professional event.

As a new initiative this year, FAST will open up the confernce to a maximum of 30 additional FAST Broker Partners who wish to attend as a paying delegate.

Brokers have often failed to use CRM systems to their full potential, FAST managing director Steve Kane said.

The aggregator, along with fellow Advantedge constituents Choice and PLAN Australia, has seen more than a year's worth of profit invested in its CRM system.

"That's one of the benefits of scale," Kane said.

This investment presents the potential for brokers to ramp up their revenues through properly utilising CRM functionality, Kane said.

Kane indicated that proper use of CRM can increase cost and time efficiencies in brokers' businesses. He used the example of a FAST broker recently introduced to the aggregator's CRM who completed a mortgage application "end to end" in three hours. While some brokers may be able to complete the process faster using traditional paper application and documentation, a good CRM platform collates data to ensure compliance and provide certainty in the case of an ASIC audit.

However, merely using CRMs to collate information is overlooking the systems' full functionality. Kane has commented that many brokers overlook the opportunity presented by their existing customer database.

"Many brokers don't do anything to utilise their existing customer database. Brokers have mainly used CRMs as static repositories of information. Many don't realise that data is their greatest asset," Kane said.

CRM systems should be used to generate greater business flows, Kane believes. To use CRM to their full potential, Kane said, brokers must not only capture client data, but also track the data and utilise it to identify customer needs.

"The technology makes it less onerous to meet customer needs," Kane remarked.

Kane commented that the data contained in CRMs can be used dynamically to perform customer needs assessment. He indicated that brokers can use the data to generate leads, referrals and identify cross-selling opportunities. "The CRM is the centre of the business rather than just an information repository. We want to help more brokers understand that," he said.

The Adviser, reported by Jessica Darnbrough

Brokers that continue to ignore online opportunities could find themselves losing relevance as more consumers look to buy their mortgages over the internet, an industry analyst has warned.

RFi director Alan Shields said as technology improves, younger generations will look to purchase their mortgage online and reduce the amount of face to face interaction they have with brokers.

Mr Shields said this online revolution could be seen as a threat or an opportunity to brokers, depending on how they play their cards.

“In 10 or 15 years time, generation X and generation Y home buyers will expect to apply for their mortgage online. They will expect to have less face-to-face interaction,” he said.

“Brokers could potentially see this as a threat, or the aggregation groups could harness this and see it as an opportunity to create some sort of direct channel experience.”

But while more consumers will inevitably look to purchase their mortgage online, FAST’s chief executive officer Steve Kane said face-to-face interaction will always have a place in the mortgage market.

“So many banks already have a very strong online presence. ING Direct for example, doesn’t have any bank branches, but it still uses brokers and will continue to use brokers in the future,” Mr Kane told The Adviser.

“Regulation has made brokers even more professional and because of this, their proposition will always be relevant and have a place in the market. Customers are seeking information on the internet, they are not necessarily seeking fulfilment.”