EDR Membership

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

Join Australia's most dynamic and respected property investment community
  1. AJP

    AJP Active Member

    Joined:
    31st Jul, 2016
    Posts:
    40
    Location:
    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...
     
  2. Peter_Tersteeg

    Peter_Tersteeg Finance broker and strategist Business Member

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    18th Jun, 2015
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    4,802
    Location:
    Melbourne, Nationwide
    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?
     
  3. AJP

    AJP Active Member

    Joined:
    31st Jul, 2016
    Posts:
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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
     
  4. Terry_w

    Terry_w Broker, Lawyer, Tax advisor, Debt Recycle advisor Business Member

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    Just company.
    I would suggest you avoid afg
     
  5. AJP

    AJP Active Member

    Joined:
    31st Jul, 2016
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    Location:
    Victoria
    Thanks for confirming!

    Why is that Terry?
     
  6. Terry_w

    Terry_w Broker, Lawyer, Tax advisor, Debt Recycle advisor 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...
     
  7. AJP

    AJP Active Member

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    Will keep that in mind, thanks boss!
     
    Terry_w likes this.
  8. Redwood

    Redwood Well-Known Member Business Member

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    22nd Jun, 2015
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    Location:
    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.
     
  9. Terry_w

    Terry_w Broker, Lawyer, Tax advisor, Debt Recycle advisor Business Member

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    Australia wide
    An accidental non disclosure by a client could lead to loss of whole trail book
     
  10. AJP

    AJP Active Member

    Joined:
    31st Jul, 2016
    Posts:
    40
    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
     
    Terry_w likes this.