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The Finance Brokers Association of Australia (FBAA) has experienced significant growth in membership, according to new data.
Data from the FBAA shows the industry body experienced a 35.5 per cent increase in membership numbers in the 2012/2013 financial year, as well as signing up 129 new members in July.
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FBAA national president Peter White said the growth could be attributed to the fact the association is run by experienced finance brokers for finance brokers.
“Our feedback tells us that brokers understand that the FBAA represents their interests first. We won’t be a mouthpiece for lenders,” Mr White said.
“Over 50 per cent of our new members are coming from industry referrals, with another 27 per cent coming directly from aggregators. This is a huge vote of confidence in the FBAA and we thank our members for their support,” he added.
Mr White said the FBAA has been instrumental in major industry reform and the new FBAA-led industry apprenticeship program would revolutionise the industry.
“Our new career path initiative will bring huge benefits to our members and to the industry. Our members will reap those rewards,” he said.
