Finance and Mortgage Broking

Employment/positions projection
14.2% growth to 2026

Earnings (Average full time)
$2,622 per week

Full time vs part time
83% full time

Sources: Gateway Credit Union, Labour Market Insights: financialliteracy.gov.au; joboutlook.gov.au

Nearly half of all Aussies with mortgages don’t understand basic terms and features to do with their loan. In the last period on record, around 20% made an investment loss they couldn’t afford. To put it simply, most Aussies don’t understand financial products. This means brokers have a huge role to play in making sure people get the right loans, investments and other products to meet their needs. To make the best possible recommendations for your clients, you need to be prepared.

Being a great broker isn’t just about securing a deal for your client or getting the paperwork right. Your success is measured by how your clients feel about their experience. Your real-world education at Monarch Institute will incorporate communication and client service challenges, plus priceless personal insights from your trainers.

Sources: Gateway Credit Union, Labour Market Insights: financialliteracy.gov.au; joboutlook.gov.au

You’ll face a lot of challenges as a professional broker. Getting great results for your clients. Keeping up with the latest products. Not to mention juggling your regulatory responsibilities.

The regulatory environment is becoming more challenging for finance broking professionals. Under Australian law, there can be serious consequences for giving misleading or negligent advice. In fact, every year ASIC takes action against dozens of brokers.

Monarch Institute’s assessments have been created in consultation with an academic board and industry advisory council. They’re designed to ensure you don’t just know what you have to do to stay compliant, but why.

Your future in the finance and mortgage broking industry is bright. Whether you’re new to the field, or getting accredited to start providing advice, you’ll love learning with Monarch Institute.

Sources: Gateway Credit Union, Labour Market Insights: financialliteracy.gov.au; joboutlook.gov.au

Your next steps will depend on the career path you’re shooting for. Explore the Certificate IV in Finance and Mortgage Broking and the Diploma of Finance and Mortgage Broking Management. And if you’re not sure which course is for you, get in touch.

Sources: Gateway Credit Union, Labour Market Insights: financialliteracy.gov.au; joboutlook.gov.au

To establish a career in finance and mortgage broking, you need to have completed recognised qualifications (a certificate, diploma, or bachelor’s degree) in finance, mortgage broking or business.

Monarch Institute offers two such courses:
1. Certificate IV in Finance and Mortgage Broking - gives the foundational knowledge to become a finance and mortgage broker. It consists of eight modules.

2. Diploma of Finance and Mortgage Broking Management - creates the opportunity to become a finance and mortgage broker. The diploma also creates a pathway towards university courses should you later want to undertake further studies.

Both courses take between one and two years to complete—depending on your individual pace and the amount of time you can devote to study.

Upon completion of either course, you can apply for membership as an Accredited Finance Broker with the national peak body for finance brokers—the Mortgage and Finance Association of Australia (MFAA).

These online courses are ideal to take if you would like to boost your skills and job prospects by studying around family and work life.

A finance and mortgage broker organises home loans, acting as an intermediary between borrowers seeking a loan and lenders offering finance. A finance and mortgage broker consults with his or her clients about their financing needs, such as the loan amount, desired length of the loan, preference for fixed term or variable interest rates, and any special needs or concerns that need to be factored in. They then proceed to find a suitable home loan from among their network of lenders that best meets their client’s requirements. They may also provide assistance and guidance with the process of applying for the loan.

A finance and mortgage broker graduate can expect an annual salary beginning at $80,000. Those professionals who are highly experienced and established can earn as much as $200,000 per annum. The high earning potential is due to the cumulative effect of trail commissions earned on loans that were arranged by the broker.

Source: Seek.com.au