ISCOVER
FBAA managing director Peter White has hailed educational initiatives and professional development for driving membership growth.
Membership at the Finance Brokers Association of Australia (FBAA) has surged 19.5 per cent over the past 12 months to hit 13,298 members at the close of the financial year, a record high for the association.
FBAA membership had grown to more than 13,400 by 1 August, with around 95 per cent of members holding only FBAA membership, according to the brokers’ association.
Of its membership, 92 per cent were customer-facing brokers, with the remainder retired members, non-loan writers, and students.
White, FBAA managing director, said net growth was significant despite some members retiring or leaving the industry.
“We are grateful for the confidence our members have shown in us, by making us the nation’s largest industry association for individual finance and mortgage brokers,” he said, pointing out that the FBAA doesn’t “double count” members who are both individuals and companies.
White said there was much to celebrate in a year that included gains in educational initiatives and professional development.
“We were pleased to launch the Certified Finance Broker (CFB) program in collaboration with CFMIA, and the Diploma with a Difference, and of course we have just completed our Elevate PD Series which sold out venues around the country, and the Commercial Masterclass series,” he said.
Looking ahead, White added that advocacy for members was always a priority.
“We’ve continued to meet with senior ministers, senators and even had a private dinner meeting with the prime minister as part of our efforts to reduce clawbacks,” White said.
White also flagged that the association would continue to engage with regulators and will keep expanding its education platforms to ensure “a solid and relevant base of knowledge is available to members at the highest professional capabilities available.”
He also teased that the association was developing “improved technology-driven systems solutions to better assist members with engagement and access to enhanced services and products soon to be launched.”
“Thank you to all FBAA staff, board members and volunteer state representatives of the FBAA across Australia for the exceptional job you’ve done to advance the industry over the last 12 months,” White said.
“It’s been a very big year investing in our team, and an even bigger year ahead investing into our business and members.”
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