the adviser logo

AFCA: A Common complaint (pt2)

by Annie Kane8 minute read

The broking industry has among the fewest complaints of any segment in the financial services space, with just 0.4 per cent of all banking and finance complaints being about brokers in the financial year 2022. But what is it like to actually go through the process? In the second part of the AFCA: A common complaint series, Annie Kane takes a look at the broker experience

It’s a testament to the service that brokers provide that only a handful of banking finance complaints are about mortgage brokers. According to the Australian Financial Complaints Authority’s Datacube, just 60 complaints were made against mortgage brokers in the financial year ended June 2022 (the most recent full financial year data available at the time of writing). Of these, 39 progressed to case management (where AFCA determines whether it’s within their rules and something they can consider).

This content is available exclusively to
The Adviser premium members.

premium afca complaint p  ogfufa


You need to be a member to post comments. Become a member for free today!
Read the latest issue of The Adviser magazine!
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Read more