Vow Financial (Vow) launched “Vow Mentoring”, a comprehensive internal mentoring program for new industry entrants.
Vow Mentoring is a structured two-year academy that includes a tailored business plan, marketing plan and three months free email marketing service and support. It also includes lender accreditation and ongoing training on product, sales processes, compliance and software.
The two year Vow Mentoring program incurs a $1,000 one-off entry cost. This is an evolution of the existing program which allowed Vow brokers to become mentors through a training program approved by the MFAA to mentor new brokers within their brokerage.
Chief Executive Officer of Vow Tim Brown said that Vow Mentoring will provide new brokers another option to receive mentoring.
“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. 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’s 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.”
“We want to be industry leaders and at the forefront of providing new services to our brokers need. The expansion of this program is an important milestone for our business. By providing more support services, we can help more for enthusiastic new brokers who might just need a boost to learn the ropes, build momentum and ultimately set themselves up for success,” he said.
The internal Vow Mentoring program will be run by newly appointed National Mentor Relationship Manager Adam Flint with 10 years’ experience in the industry. Mr Flint is a qualified training professional who also is an expert on the aggregation software.
“One of the biggest frustrations for finance brokers in their first years is learning how to use the software. 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,” Mr Brown said.
The internal program was soft launched two months ago in New South Wales with ten new entrants being the first to trial it and ten more scheduled to begin. With the growing popularity and early success of the program, it is now being expanded nationally.
One of the first new brokers in the Vow Mentoring program is John Barnes of Logical Loans in Rouse Hill, NSW.
“I’ve been in the program a few months and have already learned so much about the mortgage industry. I’m currently building up my new business and with the help of my mentor Adam, my first home loan has just been approved. Adam’s guidance through the program has given me the confidence I needed that I can help every one of my clients achieve their home buying goals,” Mr Barnes said.
To find out more on Vow Mentoring visit: http://www.vow.com.au/mentoring.
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