When you work with Quantum Finance Australia, you may see our association with other organisations. One of which is with the prestigious Finance Brokers Association of Australia (FBAA). We take pride in being a recognised firm by the FBAA, and we would like you to understand why.
What is the FBAA?
The Finance Brokers Association of Australia is the premier association in the country that represents finance and mortgage broking professionals. The FBAA works with both the members and their clients by ensuring everyone acts in accordance with relevant industry standards and policies.
The FBAA currently has more than 8,000 brokers throughout the country, including Perth, Sydney, Gold Coast, Darwin, and Melbourne. Its main purpose is to monitor legislation while representing its members to specific state and federal departments when required. It aims to protect and preserve the firms and standalone brokers to the Commonwealth Government Departments, Parliament members, and Regulators.
Finance and mortgage brokers are all invited to become a part of the FBAA. Both established and new brokers can join, as long as the goal is to expand their knowledge.
The association also accepts application from the following:
- Motor finance broker specialists
- Asset finance broker specialists
- Vendor finance mortgage broker specialists
- Commercial finance brokers
Everyone who thinks that finance and mortgage broking is their career path can be a member.
This organisation works with other professionals and training institutions to further educate those affiliated with it. Members, including Quantum Finance Australia, undergo regular market and industry-related programs to keep updated with new techniques and strategies.
What Does It Mean to Be an FBAA Member?
Since government regulations, restrictions, and legislation continue changing, FBAA guides its members in understanding them. As a result, you can count on Quantum Finance Australia as a well-informed mortgage broker regarding any applicable modifications.
The FBAA also offers plenty of benefits to its members, which can be imparted into their clients. Members are invited to join the annual FBAA National Industry Conference – for free. It is the biggest gathering of finance and mortgage brokers in the country. The FBAA also provides Professional Development for free, a training program for online exclusively for professionals wanting to continue their broker education. Other benefits include access to the following:
- Reduced pricing on various training courses, insurance, and other helpful items for running the broking business
- Tools and templates, such as the FBAA Business Toolkit for free, along with smart calculators, marketing materials, and educational videos
- Log-in to the FBAA phone app
- Updated news and information with access to e-newsletters and the exclusive Broker magazine
- Protection for members, including a dispute resolution with market leaders ready to represent
- Disciplinary tribunal for cases of members, which is approved by the ACCC
Best of all, being a member enhances credibility because of the association with a highly regarded group in the industry. The FBAA itself is tied with other organisations, including training programs and industry experts. With the FBAA's logo on branding materials of a firm, there is a huge opportunity to promote the business and the partnership as well.
Why Choose an FBAA Member
FBAA members, such as Quantum Finance Australia, went through a rigorous assessment to ensure credibility. In order to become recognised by the FBAA, they had to provide numerous evidence pieces, including Certificate IV in Finance and Mortgage Broking (FNS40815). This certification proves that the members are ready for mortgage and finance broking with a broad understanding of credit and loan applications or options to clients.
The FBAA also requires that they complete the compliance fundamentals training. There should be other supporting documents as proof for the legitimacy of the business, including a National Police Check, credit report, and professional resume.
With the backing of a highly trusted organisation, you can count on Quantum Finance Australia to be well-represented in different situations. We have demonstrated that we have achieved all the requirements, including the primary educational qualifications towards becoming a professional broker.
Additionally, we have shown that we already passed industry mentoring and guidance, which is a part of the conditions before becoming a member. Our clients can rest assured that we get the correct education and experience to provide them with excellent services and recommendations.
As a member, Quantum Finance Australia has ongoing obligations. One is to uphold, support, and follow the standards that the FBAA promotes. We also have a responsibility to meet at least 25 hours of industry-relevant training each year.
Plus, it is a requirement to conduct business that goes with the organisation's Code of Conduct. Industry professionals adopt the Code, particularly those offering commercial and consumer finance.
Members are a part of a prestigious organisation. Quantum Finance Australia values being an accredited member and complies with the measurable standards imposed by the FBAA. These standards are based on commercial and domestic funding practices, which focus on the best interests of the customers. They protect the integrity and wellbeing of the mortgage and finance industry and its future.
To learn more about the FBAA you can view their website here.