Finance broker


What they do

Finance brokers plan, organise and negotiate the sale and purchase of shares and property or other commodities. They arrange loans of money for or on behalf of their clients, and manage these loans for, or on behalf of, them. They may also offer advice to their clients about the best way to manage and invest their money. They research and analyse markets and other elements of the economy, calculate and record the costs of the transactions that they carry out, and consult with their clients and with other financial experts about the best way to invest money.

Specialisations include: Lease broker, Mortgage broker

Working conditions

Finance brokers work in a range of environments. They generally spend most of their time in an office environment, but may also work in stock exchanges. Many finance brokers also travel to meet with clients or to attend conferences. They usually work long hours that coincide with opening and closing times of the stock exchange. They may have to sit or stand for long periods of time, and when working in stock exchanges their work environment may be stressful. Although they mostly work in cities, they may work independently from finance companies in other parts of the State.

Tools and technologies

Finance brokers use computers, calculators, telephones and other office equipment such as photocopiers, fax machines and telephones.

How do I become one?

Education and training

To become a finance broker you usually need to gain a qualification in finance and mortgage broking or a related area.

The Certificate IV in Finance and Mortgage Broking is offered at registered training organisations throughout Western Australia.

Search on the My Skills website to find your nearest registered provider.

You can also compete a traineeship in finance and mortgage broking. The traineeship usually takes 24 months to complete.

You can also complete a degree in commerce, majoring in finance, or finance and property.

Most universities in Western Australia offer relevant courses. Contact the universities you are interested in for more information.

From 1 January 2019 changes to the Corporations Amendment (Professional Standards of Financial Advisers) Act 2017 mandate that every person entering the profession of financial planning (i.e. financial advisers) must complete a minimum Bachelor degree approved by the Financial Adviser Standards and Ethics Authority. VET graduates may potentially have modified employment outcomes as they will no longer meet the licensing requirements to be employed as a financial planner, financial adviser or any occupation that directly provides financial planning/advisory advice to retail clients.

Apprenticeships and traineeships

As an apprentice or trainee, you enter into a formal training contract with an employer, enabling you to complete training towards a nationally recognised qualification. You spend  time working and learning practical skills on the job and you spend some time undertaking structured training with a registered training provider.

You can do an apprenticeship or traineeship if you are a school-leaver, re-entering the workforce or as an adult or mature-aged person wishing to change careers. You can even begin your apprenticeship or traineeship while you're still at school.

If you are still at school you can access an apprenticeship through your school. Talk to your school's VET Co-ordinator to start your training now through VET in Schools. If you are no longer at school you can apply for an apprenticeship or traineeship and get paid while you learn and work.

Required registration and licensing

To work as a mortgage broker in Western Australia, you may need to obtain an Australian Credit Licence from the Australian Securities and Investment Commission

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