Channel execs win brokers a national stage

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Brave souls or gluttons for punishment? DLC execs will enter the CBC’s fiery Dragons' Den Thursday, offering up a financial literacy program launched through the network’s brokers and now humbly presented as an investment opportunity.

VP of Operations Jay Seabrook and Kevin Cochran, regional director for Ontario, are taking the EnRICHed Academy before the CBC dragons after a successful audition last month.

The studio taping won’t decide the success of DLC program, which relies on a set of videos to teach families everything about money that they’ve never been taught before -- from compound interest and Beacon scores to the ins and out of buying a first investment property.

Still, winning even a raised eyebrow from Dragon Kevin O’Leary or Arlene Dickinson could fast track EnRICHed much like the Don Cherry endorsement has helped grow the DLC brand.

But any appearance on the show regardless of outcome may help.

Entering its seventh season this fall, the venture capitalist competition has been credited with helping take hundreds of new businesses to the next level. It has also directly and indirectly channelled millions of dollars to Canadian entrepreneurs.

Seabrook and Cochran’s appearance also promises to lift the profile of mortgage brokers in general at the same time better position the industry as a key financial services partner for consumers.

"No one is taking responsibility to fix this problem, so that’s what we wanted to do with this,” said Cochran. “The truth of the matter is that most kids can’t save money because their parents can’t save money.  Unfortunately, money management is something students are going to learn one way or another, but most people learn it the hard way.”

Starting January, DLC moved to make that education a little easier to attain, launching a speaker training series where agents go into their local communities to spread the word about financial literacy to students and families.

DLC brokers and agents have welcomed the opportunity to give back at the same time generate leads.

“I’ve never seen a response like this from DLC agents before,” said Cochran. “They are so excited to spread the message. We’re fortunate to have such a great network of people that we can leverage this program through.”
 

  • Any Eductation is Good on 2012-04-13 1:40:58 AM

    To say no one is taking responsibility is a somewhat inaccurate broad statement. First of all, individuals need to take their own responsibility. Its not the gov't or industry's job to do that. Just as one's health is a personal responsibility. Second, there are countless ways people can access basic financial education for free: websites, print material from all kinds of financial institutions, investment firm and not for profit. People just need to make that as a priority. Nothing the DLC program is doing is new so if they want to create buzz then they'll achieve it.

  • Paul Therien on 2012-04-13 2:32:00 AM

    What DLC is doing is great, a national brand taking some accountability... BUT that broad statement that no one is taking responsibility is at best inaccurate.

    CENTUM launched a literacy program, which is FREE, to it's customers over a year ago, well before the DLC program. I know of many other brokers from across Canada from all brands that participate in literacy programs in their communities, and they do it for free.

    There are also literacy programs offered by several financial institutions for FREE to students across Canada, and several not-for-profit groups that also teach literacy in conjunction with municiple and provincial governments.

    Don't get me wrong, what DLC is doing is great, and it is great exposure for them. It's simple not accurate to pretend that you were first out of the gate and to make the claim that you are the only one taking responsibility for the program.

  • Steve the broker on 2012-04-13 4:00:52 AM

    Love em or hate em, DLC will raise the profile of mortgage brokers...(I don't particularly like the DLC model, by the way).... our national association, caamp, just hasn't cut the mustard... they've collected $$millions in fees through their trade shows, golf tournaments (yes, it doesn't all go to charity...read the financials), annual fees, AMP fees, etc... It's simple... we should be following The Insurance Brokers Association of Canada (IBAC).. they've done a fantastic job of promoting the insurance broker... let's get CAAMP to work in TRUE partnership with the Provincial associations... put those $$millions towards simple but consistent and effective advertising, cut out the top heavy execs at CAAMP and we'll gain real exposure... let's bond the thousands of brokers nationally... it's long overdue... maybe then, we'll start to have some real clout.... and not get so excited about an appearance on Dragon's Den...

  • Concerned Broker on 2012-04-13 10:24:46 AM

    P.T. Barnum (and George Steinbrenner) said it best, “any publicity, even if it is bad, is good publicity”. First Don Cherry then this diatribe, I shudder to think that Dominion Lending is a valid spokesperson for our industry on a national stage. We don’t need any additional bad publicity because as ‘Steve’ said, CAAMP step up! DLC on Dragons Den what’s next “Coaches Corner”, oh that’s right it’s publicity! DLC and P.T. Barnum what a circus.

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