Finance and mortgage broking – a growing industry
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. In other words, how likely they are to recommend you to others. Your real-world education at Monarch Institute will incorporate communication and client service challenges, plus priceless personal insights from your trainers.
Getting ready to raise the bar
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. You’ve probably seen a few of the headlines yourself! But the rules are there for a reason. And the good news is, compliance doesn’t have to be scary. 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.
Your next steps
Your next steps will depend on the career path you’re shooting for. Explore the FNS40815 Certificate IV in Finance and Mortgage Broking and the FNS50315 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, Mortgage Holder Sentiment Report 2017: gatewaycu.com.au; Australian Financial Attitudes and Behaviour Tracker, Wave 5: March 2017: financialliteracy.gov.au; joboutlook.gov.au