Practical Advice for Your Finance Broking Career
Finance Broking is a generic term covering regulated mortgage finance, commercial finance and equipment finance.
The finance broking industry is relatively young in Australia when benchmarked with other financial professional services such as insurance and financial planning.
Data collated on the industry provides insights into the average earnings and performance of finance brokers. As sweeping commentary, industry participants are widely dispersed and are generally “micro-businesses” that depend on the active involvement of their owners.
Advice For Your Journey
Questions to consider at the beginning of your career
- How do I create referral relationships?
- Should I charge a mandate?
- How do I choose the best commission structure for me?
- What is the best positioning for my expertise?
Questions to consider as your career progresses
- How do I create long-term sales, marketing and customer management systems?
- Shall I stay independent, join a larger firm or grow my business?
- What is my appetite for risk vs steady state?
- Have I reached the ‘single-owner cap’, and if so, what can I do about that?
- How can I diversify and broaden my experience and skills?
We welcome Finance Partners to join us across metro and regional locations. You will have the opportunity to focus on your core service area with the ability to work collaboratively as part of our team. You will gain access to a range of MCP products and services to serve your customer base in better ways.