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Recognising a need to offer young recruits a pathway into the industry, a specialist training company has launched a new mentoring program.
According to Paul Eldridge, CEO of Intellitrain, the industry is in dire need of a proper training program for recruits.
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“The mortgage broking industry needs to work out a way to properly train and develop new entrants and ensure that they get the support and encouragement they need to become productive members of our industry,” he said.
“This is why we engaged with industry to build our mentoring program. We wanted an industry solution that really addressed the needs of those people looking to join the mortgage broking industry.”
The mentoring program is based on taking a person who is new to mortgage broking and slowly building up a skill set over two years that enables them to run a profitable broking business.
“Early on in the program, the focus is on the fundamentals, including technical skills, compliance, generating referrals, etc. As the new entrant gains skills and confidence, the program shifts to teaching them how to move from a broker into a business owner,” Mr Eldridge said.
“Throughout the whole two years, new entrants also get full phone support where they are able to talk to an experienced broker who provides the moral support, advice, coaching, sounding board and encouragement needed.”
These comments come just days after a top broker called for principals to discard the commission-only structure and instead use a salary-based remuneration system, in order to keep young recruits in the industry.
