FBAA chief executive Peter White has explained the significance of ongoing education and training at a time of increasing complexity in the broker market.
Mr White told The Adviser that it is “critically important” for brokers, both new-to-industry and those who are more experienced, to consistently upskill, given the changing regulatory environment.
“The older we get, the more regularly we need to refresh our minds on things that are happening in the industry, our obligations and requirements under legislation,” Mr White said.
“Conversely, if you’re new-to-industry there’s so much to learn. You’ve got 700-800 pages worth of regulatory guides that you should have your head around, you’ve got multiple legislations that impact our industry and then you’ve got all your lender’s guidelines and parameters, products, processes and systems – there’s a hell of a lot to learn and a hell of a lot to retain.
“No one in this world can turn around and say 'I know it all' or 'I know enough'," he said. "There's always something to learn and always something to progress whatever learning you have, at whatever level you're at.”
Mr White pointed to The Adviser’s Better Business Summit as an important way in which brokers could keep up-to-date with education and training.
“This is our second year supporting the Better Business Summit [as a Gold Partner] and we’ve done so because we see the value and the content that is there for all brokers around the country,” he said.
“The speakers last year were fantastic so we're looking forward to hearing what the speakers this year have got to say and seeing what we can use here in the FBAA as well as what our members can take away with them.
“I would be surprised if anyone who went to last year’s won’t be back this year, bringing their mates with them,” he said.
Mr White said he encourages all brokers to attend the summit, regardless of their experience.
“You need to be involved in these types of events to keep yourself sharp,” he said.
“We'd encourage everyone to get involved to increase their knowledge and educational understanding of what makes things work in our industry, to help them in their business.”
The Adviser’s Better Business Summit presents insights from some of Australia’s most established businesspeople.
This year’s summit will be held in Brisbane on 18 February, Melbourne on 25 February, Sydney on 3 March, Adelaide on 11 March and Perth on 17 March.
Click here for more information.