“I believe that now is the time for me to announce my retirement as CEO of the MFAA and I have .rmed the board of my decision in this regard,” Felton (pictured) said at the conference, being held in Melbourne.
“When I took on this role, I felt it was a perfect role to my skillset. I have run my life and the way I have done my role with one simple rule, always focused on doing what is right rather than what is simply popular.”
Felton said he believed now was the right time for him to end his full-time working career, to retire. He would continue on as head of the peak industry body until spring.
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“To reduce my workload and to start doing some things I have sacrificed and haven’t had enough time to do. In representing you all, I can honestly say I have given 1000% to this role and treated it as my own business.”
“Despite some trying personal circumstance at times and without a shadow of a doubt, the last five and a half years is the pinnacle from a personal perspective the highlight of my working career to represent such a great industry.”
Felton said the industry was now in the strongest position it has ever been and more importantly was in a sustainable position, which was a tremendous testament to mortgage brokers and the amazing work they do.
Felton’s tenure leading the Mortgage & Finance Association of Australia was focused heavily on industry advocacy, bookended by the ASIC Review of Mortgage Broker Remuneration in 2016 and the MFAA’s advocacy surrounding the 2022 Review.
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MFAA chair Rose De Rossi said Felton had led the association through the industry’s most challenging period with professionalism, dedication and great determination.
“During his time with the MFAA, Mike has unrelentingly championed the Association’s advocacy efforts on behalf of brokers and the industry, which not only had a significant influence on the policy outcomes achieved for broker businesses and the customers they serve, but also allowed the industry to lean into scrutiny and thrive in a sustainable manner,” De Rossi said.
“Over the past five-and-a-half years, Mike has led the MFAA from the front with great passion and effectiveness. He guided the industry through its response to the ASIC Review, the formation of the Combined Industry Forum and its associated reforms, and the industry’s responses to various subsequent challenges.”
“This included an incredibly successful response to the Royal Commission and now the 2022 Review outcome. It was fitting that it was Mike who was the one to receive the news about the cancellation of the 2022 Review from the Assistant Treasurer and Minister for Housing. “
“Under his leadership, our professional development and learning programs have continued to be enhance.”
At the end of his opening speech, Felton received a standing ovation from the entire audience at the conference.