I worked for powerloan a couple of years ago. They have a very very high turnover rate. There are alot of restrictions on what you can do, and they constantly bag brokers and banks. They are mortgage brokers, but only selling the branded products – therefore have mininal range.

There is alot of hype, and it is easy to get sucked in. The positivism and constant motivational talks make you forget that you are not earning money, or are only earning a bit. I would describe some of their practices as dodgy.

They place all the risk on you – no wage etc – but expect you to conform to their standards relentlessly. I believe many of their former/current workers could claim entitlements as workers which are otherwise completly denied to them, except most just dont want anything to do with them anymore, or couldnt be bothered claiming (or dont know their rights through all the hype).

The founders come from a multi-level marketing background, and powerloan is a mortgage broking company with that structure. Most people only sell to their friends, and make money for those higher up in the structure.

I recall them spruiking “Kebble”, one of westpoints products, relentlessly.

However I did learn alot about the finance industry, and professional ethics, but really nothing I couldnt have learnt from a 2 day course from WEA.

I would suggest that you join a reputable firm of brokers – your future will be much better, and realistic.