The Consumer Credit Service WA recently submitted a request to the Parliamentary Joint Committee of Corporations and Financial Services for policy change in relation to broker education. The service stated that the Certificate IV in Broking was inadequate and that brokers needed to be more competent.
However, the brokerage industry denied that this was a main problem. They debated that the minimum qualification of a certificate IV was adequate, but that brokers needed more professional development.
How Can Brokers Gain Professional Development?
Industry experts believe that ongoing education of a high standard is vital to raise industry standards. In addition, they also felt that cooperation between industry bodies and a more uniformed approach would lift the standards of mentoring and ongoing professional development.
The eChoice Broker Development Program
In order to assist new brokers enter the brokerage industry, eChoice, winner of the 2014 MFAA aggregator of the Year Award provides brokers who hold a diploma or certificate IV in broking with an opportunity to join their broker academy program. The eChoice Broker Academy Program spans over 18-weeks, and is for brokers who are registered with the MFAA or FBAA. In addition, brokers must have professional indemnity insurance and an Australian Business Number (ABN).
Upon completion of the program, brokers will become competent home loan managers who can then work in the eChoice network, which has helped some 50,000 Australians to secure a home loan.
However, eChoice attribute their success and growth to empowering their brokers with quality industry development, tools and service. As such, they provide graduate brokers with ongoing support and assist them in further development of their business.
Are you seeking to grow your brokerage knowledge? Then contact eChoice and find out how you can join the brokerage development program today.
Written by eChoice