At Smartfinn Advisors, we provide comprehensive support to ensure your success as a mortgage broker. Our approach includes operational independence with our Australian Credit License (ACL), allowing you to explore a wide range of lender products and offerings. This flexibility enables you to provide diverse options to your clients and stand out in the competitive market. With Smartfinn Advisors, you can access competitive incentives and advanced mortgage broking software with electronic lodgement capabilities. These CRM tools streamline your workflow and provide mentoring, support, data entry assistance, personalised monthly e-magazines, property information resources, and comprehensive marketing support.
If you have a passion for finance and want to help individuals or businesses achieve their financial needs, you are the right fit for Smartfinn Advisors. We seek individuals who are motivated, ambitious, and ready to take on the challenge of building a successful mortgage broking business. Our team values teamwork, innovation, and a commitment to providing exceptional client service.
At Smartfinn Advisors, we believe that continuous learning and professional development are key to achieving long-term success in the mortgage broking industry. Our mentoring program is designed to provide personalised guidance and support to help you navigate the industry’s complexities. Our experienced mentors are dedicated to your growth and success, offering insights and advice based on years of industry experience.
Our mentoring program includes personalised support, continuous professional development, and guidance on complex scenarios and best practices. We understand that every Mortgage Brokers journey is unique, and our mentors customise their support to meet your specific needs and goals. With Smartfinn Advisors, you will have access to a wealth of knowledge and resources to help you build a successful mortgage broking business.
A career as a Mortgage broker has many benefits. First, it provides financial independence by being a self-employed professional, allowing one to manage one’s business and financial future. This profession has high earning potential through commissions, a loyal client base, and establishing relationships with lenders. Second, mortgage Brokers often have the flexibility of setting their hours, which can lead to better work-life balance.
In a well-regulated industry, mortgage brokers can have rewarding experiences by helping various clients and businesses secure home and investment financing. The mortgage and real estate market is continually evolving, providing opportunities for growth and advancement in the mortgage broking field.
Finally, working as a Mortgage broker enables Brokers to build a wide network of contacts within the financial and real estate industries, which can open doors to further business opportunities. Many mortgage broking firms, like Smartfinn Advisors, offer extensive support, resources, and tools to help Brokers succeed, especially when starting out.
In recent years, the importance of sub-aggregation has elevated well due to the large amount of support and resources provided by sub-aggregators. Joining an aggregator or sub-aggregator has varied implications for a Mortgage Broker’s business.
1) Aggregator vs Sub-aggregator
An aggregator provides Mortgage Brokers with a CRM system, a fixed set of lenders, and professional development events. Sub-aggregators operate under a large aggregator, offering a wider range of resources, including marketing support, mentoring, and ongoing training. At times, they can get access to a larger lender panel.
2) Support and Resources
Aggregators provide a limited range of access, such as technology support, commission enquiries, and compliance-related aspects. Sub-aggregators provide more tailored and personalised support, including hands-on experience with systems and day-to-day operations and a more focused approach to niche services or specific segments of the market.
3) Commission and Fee structure
With aggregators, Mortgage brokers may pay a fee or share a portion of the commission with the aggregator in exchange for access to services and lenders. Sub-aggregators who act as intermediates may have an additional layer of fees or commission splits. However, the personalised support and potential higher service levels can justify these costs for many Mortgage Brokers.
4) Flexibility and Autonomy
Aggregators have autonomy in terms of choosing products and lenders, while sub-aggregators can be more accommodating to the unique needs of new Mortgage Brokers or brokerages.
5) Branding and Identity
Mortgage Brokers under aggregators might be required to align with and comply with the aggregator’s brand guidelines, especially on marketing collaterals. Sub-aggregators are often a bit more flexible, giving the option to use the sub-aggregator’s brand for ease of operation or their own brand for independent identity while still benefiting from the support of the sub-aggregator.
We invite you to join Smartfinn Advisors and assure you of success as a Mortgage Broker. However, we recommend the following to ensure that the partnership aligns with your career and business goals and that you can make an informed decision about whether Smartfinn Advisors is the right fit for you.
Submit your details and CV via this form. We will be in touch soon.
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If you are a new entrant, begin by acquiring the necessary education and training. Consider enrolling in accredited courses like Certificate IV in Finance and Mortgage Broking, which will provide you with essential knowledge and skills. Within 12 months you’ll be required to upgrade your qualification to a Diploma of Finance and Mortgage Broking Management.
If you have advanced degree in Finance, then it is recommended to explore an institute which would directly enrol you for a Diploma in Finance and Mortgage Broking Management
A background in sales, customer service, banking, financial services, insurance, accounting, financial planning, real estate, consulting, conveyancing are highly regarded but not mandatory.
The industry regulator, ASIC, requires a Certificate IV in Finance and Mortgage Broking as the minimum educational qualification to become a mortgage or finance broker. While a Diploma-level qualification is not mandatory, you have the option to pursue it if you wish to further your education.
This is ideal for new entrants to the industry, as well as financial services professionals such as Accountants, Financial Planners, and Real Estate Agents who wish to incorporate credit services into their business.
The time it takes to get started depends on which prerequisite requirements you’ve already completed. To begin writing loans, the following steps are part of the application process, each with varying completion times. We maintain ongoing affiliate relationships with many providers and will guide you through each step:
1. National police check
2. Credit check
3. Certificate IV in Finance and Mortgage Broking (minimum requirement)
4. Membership with the Australian Financial Complaints Authority (AFCA)
5. Membership with the Finance Brokers Association of Australia (FBAA) or Mortgage and Finance Association of Australia (MFAA)
6. AML Certificate
7. Professional indemnity insurance. Note: If you are operating under Smartfinn Advisors brand then Smartfinn Advisors will pay for your professional indemnity insurance)
We provide comprehensive support services to help you launch and grow your broking business, including:
For brokers new to the industry, we offer a personalized mentorship program designed to help you create the career you aspire to be as a mortgage broker. Every one of our brokers benefits from complimentary foundational mentoring services, providing guidance for your daily business operations.
According to FBAA membership requirements, applicants with less than two years of experience in the finance industry (within the last five years) must be nominated for membership by an existing member (or their representative). This nominating member is responsible for mentoring the applicant (mentee) or ensuring they receive proper mentorship until they have gained at least two years of industry experience.
Industry organizations like the Mortgage and Finance Association of Australia (MFAA) and the Finance Brokers Association of Australia (FBAA) mandate that new-to-industry brokers receive adequate support and mentoring. When you join Smartfinn Advisors as a new-to-industry broker, you will benefit from thorough training and continuous support from experienced mortgage professionals, equipping you with the tools and expertise to stay compliant and achieve long-term success.
Yes, Smartfinn Advisors has an Australian Credit Licence.
Each broker in our network benefits from the independence our Australian Credit License (ACL) provides, and the continuous professional development opportunities offered.
If you are operating under Smartfinn Advisors brand, then Smartfinn Advisors will pay for your professional indemnity insurance. However, if you prefer to operate under your own brand then you must hold and maintain your own Professional Indemnity Insurance cover.
There are no minimum volume requirements with our models. Our aim is to support your steady growth by increasing volumes, ensuring consistent monthly settlements.
Yes, you can operate under Smartfinn Advisors brand. Alternatively, you can also operate under your own brand and enjoy operational support. Choose the model that suits your business strategy and goals.
Smartfinn Advisors has access to many lenders, including major banks, second-tier lenders, and credit unions. This means you have access to the most competitive interest rates and flexible finance products in the Australian mortgage market.
Yes, working from home and running a mobile business is a practical way to reduce initial costs and gain lifestyle flexibility. As you expand your business you may choose to lease an office in the future and is totally up to you.
A major advantage of owning your own business is the flexibility to customize your work hours to suit your lifestyle. If you choose to be full-time, our standard operating hours are typically 9 am to 5 pm, Monday through Friday. However, there may be times when you need to provide after-hours service, including evenings and weekends, to accommodate clients at their convenience.
One of the key challenges for part-time brokers is being available during standard business hours (9 am – 5 pm). We’ve addressed this by offering cost-effective virtual assistance and in-house application processing, helping them manage their business more efficiently.
If you are interested in becoming a broker with us, simply write to [email protected] today to get started.
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