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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).
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