EDR Membership

Discussion in 'Loans & Mortgage Brokers' started by AJP, 15th Aug, 2019.

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  1. AJP

    AJP Well-Known Member

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    31st Jul, 2016
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    Victoria
    Hi all,

    Just checking,

    Do i require membership under my personal name and under my company name?

    I'm having trouble understanding the rationale behind needing both but my aggregator is insisting i get both

    Figured i would ask before i drop some coin again...
     
    AJP, 15th Aug, 2019
    #1
  2. Peter_Tersteeg

    Peter_Tersteeg Mortgage Broker Business Member

    Joined:
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    03 9877 3000
    My AFCA membership certificate just states my business name. The application forms specify my name as being in various roles.

    You mentioned previously you're being employed by someone. Why aren't you under their scheme?
     
    Peter_Tersteeg, 15th Aug, 2019
    #2
  3. AJP

    AJP Well-Known Member

    Joined:
    31st Jul, 2016
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    Location:
    Victoria
    Hmm.. that's what i thought

    I just called AFG and they are insisting that i need one under my individual name and company name... Didn't make sense to me especially considering AFCA is quite clear when it asks you if you are a "Individual" or "Company"

    She didn't seem to know why and will be sending an e-mail shortly to confirm

    Plans changed, will be subcontracting
     
    AJP, 15th Aug, 2019
    #3
  4. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Just company.
    I would suggest you avoid afg
     
    Terry_w, 15th Aug, 2019
    #4
  5. AJP

    AJP Well-Known Member

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    Thanks for confirming!

    Why is that Terry?
     
    AJP, 15th Aug, 2019
    #5
  6. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    ask around, they have a bad reputation for cancelling trails at the first wiff of 'fraud'.
    But they are merging with connective...
     
    Terry_w, 15th Aug, 2019
    #6
  7. AJP

    AJP Well-Known Member

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    Will keep that in mind, thanks boss!
     
    AJP, 15th Aug, 2019
    #7
    Terry_w likes this.
  8. Redwood

    Redwood Well-Known Member

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    Melbourne
    If they wiff fraud that aint a good thing right?

    I'm with Connective and will just wait to see how thus "merge" impacts me.
     
    Redwood, 16th Aug, 2019
    #8
  9. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    An accidental non disclosure by a client could lead to loss of whole trail book
     
    Terry_w, 16th Aug, 2019
    #9
  10. AJP

    AJP Well-Known Member

    Joined:
    31st Jul, 2016
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    Location:
    Victoria
    Yikes... i was toying with the idea of getting upfront statement of positions signed to a cover all basis...

    I would be very disappointed if that was the case, will tread carefully i guess
     
    AJP, 17th Aug, 2019
    #10
    Terry_w likes this.
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