Vow Financial has announced the launch of its first internally independent mentoring program for new brokers.
Vow Mentoring is a two-year academy that includes a tailored business and marketing plan and three months free email marketing service and support.
The program also includes lender accreditation and ongoing training on product, sales processes, compliance and software.
Vow chief executive officer Tim Brown said Vow Mentoring is available at a $1,000 one-off entry fee, offering new brokers the chance to get the training they need without the prohibitive costs.
“There has been a growing number of new market entrants over the past few years and yet wholesale aggregators are not catering to their needs,” he said.
“The new broker generally goes through a short induction program and then enters the market on their own without the level of training, tools and support they initially need. Many of these businesses will fail in the first two years unless they receive additional mentoring.
“At Vow, we believe that our broker success is our success so we want to ensure everyone is set up with the support they need to grow a long-term profitable business.”
The internal Vow Mentoring program will be run by national mentor relationship manager Adam Flint.
Mr Flint has 10 years’ experience in the industry and is a qualified training professional whose expertise is in aggregation software.
“One of the biggest frustrations for finance brokers in their first years is learning how to use the software,” Mr Brown said.
“With Mr Flint’s software expertise, the mentees will also have access to an on-call software expert to assist in the lodgement of deals during those key early years.”