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FNS40815 CERTIFICATE IV IN FINANCE AND MORTGAGE BROKING – ASSESSMENT TASKS Page 1© Copyright 2004-2017 The National Finance Institute V.010517EXERCISE 2To be completed by the TraineeYou must include this page with your Exercise 2 submissionAlternatively you can retype the details as a front page to your ExerciseTrainee name _________________________________________________________________________

Trainee Postal Address

Trainee Daytime Phone numbers _________________________________________________________

Trainee Email address

I state that this Exercise contains no material which has been written by another person. I make thisstatement with the understanding that my assessment may be compromised if found to be otherwise.Signed _____________________________________________ Date __________________________Submissions can be mailed to NFI, P.O. Box 1354, Capalaba B.C. Qld 4157 OREmail to assessments@financeinstitute.com.au (if emailing you must adhere to the emailing size rules)OFFICE USE ONLY BELOW HEREDate received by NFI ____________________ Date received by Assessor ______________________Name of Assessor _____________________________________________________________________Date assessed ___________________________ Mark ____________________


Not Yet Competent

Assessor’s Comments: …………………………………………………………………………………….…………………………………………………………………………………………………………………..…………………………………………………………………………………………………………………..…………………………………………………………………………………………………………………..…………………………………………………………………………………………………………………..Further action required (if applicable) ______________________________________________________FNS40815 CERTIFICATE IV IN FINANCE AND MORTGAGE BROKING – ASSESSMENT TASKS Page 2© Copyright 2004-2017 The National Finance Institute V. 010517EXERCISE 2TaskTotal marks possible 50Assume you are now a mortgage broker and you are either working as an independentcontractor, or are self-employed or about to open a franchise. Assume you have two other staffmembers working with you. Their roles are your choice.Using the template we have provided as a guide, prepare a basic business/marketing plan outlinefor your business, for the next 12 months, incorporating the following activities:– Developing professional relationships– Networking– Prospecting for clients– Marketing ideas– Client retentionGuidelines –1. You must type your marketing/business plan ie. construct it as a document on your PCand save either as a doc or pdf file. A minimum of 4 typed pages is expected.2. You will not need to provide any budgeting estimates for the purpose of this Exercise butyou are welcome to do so3. You will not be judged on your typing or word processing ability4. The marketing plan template we have provided is for guidance only – you do not need toprovide information for all of the points outlined unless you feel they are relevant andyou do not need to follow the template we have provided if you already have your ownbusiness plan document or template to follow5. You will not be judged on your skill as a marketing expert but on the evidence of yourunderstanding of the points below6. If you still feel unsure where to start with your business/marketing plan, then you shouldGoogle this to get a feel for what different plans can incorporate. We want to know whatstrategies you would use in order to succeed as a broker.Points you must cover –

How do you envisage being able to apply your knowledge, skills and understanding to enableclients’ needs and expectations to be met and how will you incorporate the functionsassociated with the provision of a quality, professional practice to those customers.How do you envisage you will develop, nurture and maintain professional relationships with

clients, colleagues and other referrals in order to complete work tasks, further the reputationof the organisation or your company, as well as the profession generally, and improve longterm relationships and sales.

How do you envisage you will establish contact and then build rapport both in your ownindustry and within other finance industries incorporating sales and presentation skills aswell displaying an industry-knowledge of regulations, disclosure and selling.How do you envisage identifying and contacting potential client prospects through use of

networks, leads and research skills.FNS40815 CERTIFICATE IV IN FINANCE AND MORTGAGE BROKING – ASSESSMENT TASKS Page 3© Copyright 2004-2017 The National Finance Institute V. 010517So just repeating …Overleaf is the template mentioned which we have provided for guidance only – you do notneed to provide information for all of the points outlined unless you feel they are relevant andyou do not need to follow the template we have provided if you already have your ownbusiness plan document or template to follow. The template is provided to make it easier foryou.You can use the template as a guide or you can design your own business/marketing plan.If you do not feel that you have sufficient knowledge to construct a business/marketing plan,you will need to search on the internet for assistance.If you are going to be working for a company who has their own business plan, you can utilisethe ideas within that plan PROVIDED THAT, you customise it to suit your own situation, yourown anticipated methodology and your own ideas for how YOU are going to succeed in thefinance industry ie. what strategies will YOU utilise.A minimum of 4 typed pages is expected if you do not use the template.FNS40815 CERTIFICATE IV IN FINANCE AND MORTGAGE BROKING – ASSESSMENT TASKS Page 4© Copyright 2004-2017 The National Finance Institute V. 010517[Your business name][Prepared by][Date]1. EXECUTIVE SUMMARYThe executive summary should provide a concise overview of the contents of themarketing/business plan. It should not contain information that isn’t found within other sectionsof the plan. The idea of an executive summary is to provide somebody who doesn’t have thetime to read the entire document with a detailed summary of its content. It is easiest to writethe executive summary last.2. SITUATION ANALYSISThe situation analysis should provide a detailed overview of the environments in which yourmortgage broking business operates. In this section, provide a general summary of theenvironments in which you operate.2.1 S.W.O.T analysis

StrengthsWhat internal strengths help you to be competitive?

WeaknessesWhat internal factors detract from your success?

OpportunitiesWhat external factors present future opportunities to grow your business?

ThreatsWhat external factors present a threat to the future success of your business?

2.2 P.E.S.T analysisWhat are the major factors that will have the greatest impact on your mortgage brokingbusiness? For assistance you may wish to refer to the various research reports written byorganisations like Australian Prudential Regulation Authority (APRA) – www.apra.gov.au;Consumer Credit Legal Centre (NSW) – www.cclcnsw.org.au; Goldman Sachs –www2.goldmansachs.com; or Macquarie –http://www.macquarie.com/au/corporate/expertise?expertise=research. These are just somesuggestions, the internet is a huge source of research reports.

Political:Examples include: taxation changes, stamp duty changes, industry regulations andPS146 legislation.

Economic:Examples include: interest rates, First Home Owners Grant, inflation rates, wagemovements and unemployment.

Social:Examples include: growth in single person households and people having children laterin life.

Technological:Examples include: lender comparison software and back-office processing platforms.

2.3 Competitive analysis

Demand for service?

FNS40815 CERTIFICATE IV IN FINANCE AND MORTGAGE BROKING – ASSESSMENT TASKS Page 5© Copyright 2004-2017 The National Finance Institute V. 010517

Direct and indirect competitors?

Strengths and weaknesses of competitors?

What markets are your competitors targeting?

An analysis of market shares:

Similarities between your business and competitors:

A general analysis of the competitive marketplace inwhich you operate:

2.4 Market analysis

(a) Market growth rates?

(b) Market expansion opportunities?

(c) Total market size?

Growing or declining marketplace?

3. MARKETING GOALSWhat do you want to achieve from your marketing? Your marketing goals are your keyanticipated outcomes of the marketing activities you plan to conduct during the ‘life’ of yourmarketing plan. Ensure your goals are easily quantifiable, as this will allow you to measure theirsuccess. A summary of the marketing goals is included in the table below:

What percentage increase in conversion from enquiryto settlement do you want to achieve?

Where would you like your business to be in 12months’ time?

What growth in client numbers do you want toachieve?

What percentage increase do you want in sales?

What growth do you want in profitability?

What growth do you want in staff numbers?

What new services do you want to offer?

How many new distribution channels do you want toestablish?

What percentage increase in new enquiries do youwant to achieve?

What percentage increase in repeat business do youwant to achieve?

4. MARKETING STRATEGYYour overall marketing strategy should be explained in this section. Don’t be specific in anyparticular areas – instead provide an overview of the marketing strategy your business willemploy.Example strategies include:

Market penetration: encompasses focusing on increasing lending volumes to existingmarkets.Market development: is where you offer your existing services to new markets. Thismight be via geographic expansion or by directing marketing efforts at new marketsegments.Product development: is when you develop new products to better serve existing markets.



FNS40815 CERTIFICATE IV IN FINANCE AND MORTGAGE BROKING – ASSESSMENT TASKS Page 6© Copyright 2004-2017 The National Finance Institute V. 010517

Diversification: is the process of taking your business into new products and also newmarkets.Retrenchment: involves removing or selling off parts of the business or product lines.


Some other considerations include:

Niche marketing strategiesNew product opportunitiesMatching services offered to chosen market segmentsCustomer acquisition via customer retention.

This section should be written like a conclusion – bringing all the various sections together tocreate a clear picture of the total marketing strategy your business will employ.5. MARKET SEGMENTATIONMarket segmentation refers to dividing or breaking apart the total market of all prospectiveborrowers into smaller, more manageable segments. Common segmentation criteria include age,education level, family lifecycle, occupation, religion, race, geographic boundaries, lifestyle, etc.5.1 Target market(s)Your target markets are sub-markets of your main market. The selection of these markets andtheir relationship to each other is entirely dependent on your marketing strategy. For example,if you’ve segmented the total market based on “loan type required” and you have decided totarget borrowers requiring professional packages for example, then your target markets mayinclude accountants, doctors, solicitors and financial planners. However, had you segmented thetotal market of all prospective borrowers based on occupation (for example, targeting those inthe medical industry), then your target markets might include those requiring professionalpackages, investment loans, owner occupied loans or bridging loans.The markets selected are interchangeable, so it is important to choose your market segmentcarefully. By first dividing the total market into segments and then dividing that segment intotarget markets you are able to identify the unique requirements of your prospects in these submarkets.

Who is your ideal client?

How well do you know and understand your chosentarget markets?

How well do you understand their lending needs?

Are there ways to segment your market so you can offerhighly specialised products to specific groups reflectingtheir individual needs?

6. MARKET POSITIONINGYour brand should reflect your market position and your market position should reinforce yourbrand. For example, if your market position was “experts in young family lending”, then yourbranding might include a photo of a young girl flying a kite with her parents. Perhaps yourbusiness name might be “Your Future Home Loans” and your logo would be fun and upbeat.What is the one ‘aspect’ you want your chosen market segment to think of when they see orhear your business name? The answer to this question becomes your positioning statement:Put some thought into your market position, because it will have a profound effect on the longterm success of your mortgage broking business.FNS40815 CERTIFICATE IV IN FINANCE AND MORTGAGE BROKING – ASSESSMENT TASKS Page 7© Copyright 2004-2017 The National Finance Institute V. 0105177. MARKETING TACTICSThis section contains the more practical aspects of your Marketing Success Plan, such as servicesoffered, commission levels and promotional techniques employed.7.1 Product strategyIn this section, describe the exact “finance products” you will offer. For example, residentialmortgages, commercial mortgages, leases, personal loans, etc.Describe how these products fulfil the needs of your market segment. For example, if you weretargeting the professional market, then you might only offer professional packages, investmentloans and commercial mortgages. You might refer all other business to another mortgage brokerthat has agreed to refer your target audience back to you.Also, mention the make-up of your lender panel. Are all required “borrower-types” covered byyour lenders?7.2 Service strategyIn this section, you detail your service process and how this will integrate into your marketingstrategy. For example, if you are targeting the professional market, you might conduct lunchtimeinterviews at your client’s place of work. Instead of providing movie tickets as an approval gift,you might give a branded compendium. Make sure your service process ties into your overallmarketing strategy.7.3 Pricing strategy

Do you charge brokerage fees, receive commissions or a combination?What is your average lender commission rate (upfront and trail) and average brokeragefee?Do you receive any volume bonuses from your aggregator or franchisor?Do possible biases exist in relation to differing commissions?Do you pay referral fees for introductions from strategic alliance partners?What is the average size of mortgages in your geographic location?Distribution strategyYou should describe how your service is delivered to your target markets.Explain the distribution methods you are employing and justify your choices.Do you have an internet presence?Do you have mobile lenders with the ability to function efficiently in client’s homes?Do you have public offices with private interview rooms?Are there any other specific distribution channels that would be appropriate for yourparticular business? For example, if you target high level managers from a few keycompanies perhaps you could hire an interview room within their building for a day eachweek.


How do your distribution channels fit into your overall marketing strategy?

Promotion strategy

Your promotion strategy explains how you will promote your brand and services to your chosenmarket segment. It is the tools used to achieve results.Following are some possible marketing tactics you might consider:

Brochures / flyers
 Seminars / workshops

FNS40815 CERTIFICATE IV IN FINANCE AND MORTGAGE BROKING – ASSESSMENT TASKS Page 8© Copyright 2004-2017 The National Finance Institute V. 010517

NewslettersPostersDirect mail lettersSponsorshipsTrade shows / exhibitionsGiveawaysCoupons / free samplesCompetitions / sweepstakesHost beneficiary arrangementsProspecting cards
 Conferences / public speaking Media releases Advertising Web-based marketing Video brochures Telemarketing Catalogues Strategic alliances Point-of-sale merchandise Information packages

People strategyWhat training needs to be undertaken to ensure your staff back-up your marketingmessages?How will you communicate new marketing initiatives with your staff?How will you generate marketing ideas from your staff?


Remember the most important people in your marketing equation are your staff and clients –you need to consider both.8. RESEARCH8.1 Consumer research

How will you monitor the changing needs and preferences of your clients?What methods will you employ to gain the insights you require?Who will be responsible for implementing the research findings?How will staff be encouraged to gain ongoing client insights? And how will they be


Will you use an external research company or consultant to assist in the design and

delivery of research?

This section should detail systems that are in place for client feedback and reporting, that mayresult from service failure, product comment or bad service.

Market research

How will you monitor trends in the economy? For example property sales, interest rates,

lending volumes, consumer trends, etc.

Are there any specific areas you need to monitor, because of your marketing strategy?For example, if you target non-conforming borrowers you would be interested in levels

of financial hardship.How will you access industry trends?
For example memberships of industry

associations, aggregator’s newsletters, industry journals, networks and governmentdepartments.Market trends are critical in the financial services industry, as companies need to evolve andadapt as major economic changes occur.9. CONSUMER BEHAVIOURIn this section, you need to analyse the behaviours of mortgage consumers. Understanding thereasons why consumers patronise different lenders and brokers will give you a very powerfulmarketing weapon.FNS40815 CERTIFICATE IV IN FINANCE AND MORTGAGE BROKING – ASSESSMENT TASKS Page 9© Copyright 2004-2017 The National Finance Institute V. 010517You will base your analysis on the results gained from the research activities detailed earlier.This section will address:

Why borrowers use your mortgage broking service?What the perceived benefits of your service are?What are your client’s expectations and does your service meet their standards?How do you gain their loyalty?Why do your clients use your services over other mortgage brokers?What type of loan features most appeal to your prospects?How are choices made when deciding upon a mortgage broking service?Are borrowers typically presold on a brand or are they more impulsive?What activities do your prospects enjoy in their leisure time?

10. MARKETING BUDGETFor your own personal development, you can include a marketing budget here, but it is notrequired for the purposes of this exercise.11. EVALUATIONHow will you evaluate the results achieved from your marketing activities? In order to evaluateeffectively, you must set specific targets and time frames, so you can quantify the results.Effectively, this section evaluates your success in achieving your marketing goals. It should alsocontain your strategies on how you will measure your success, contingencies if objectives aren’tmet and a summary of ideal outcomes.If some of the strategies aren’t working, attempt to determine the reason for failure. Is thestrategy flawed? Is there a problem with implementation or timing?12. IMPLEMENTATION PLAN


[Actions required toimplement strategy]
[Who is responsiblefor implementing thisstrategy]
[When will thisstrategy befinished]

This completes your Exercise 2– – – – – – – – – – – – – – – – – – – –
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