Finance broker

What they do

Finance brokers plan, organise and arrange loans of money (such as home loans, car or equipment finance, or business finance) for or on behalf of their clients. They operate as an agent in the course of financial negotiations. They analyse clients’ financial status, discuss finance options, and recommend loan combinations that meet clients’ lending needs. They may specialise as a Mortgage Broker (for more information, see the Mortgage Broker occupation profile).


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 as a mobile finance broker and travel to meet with clients. Some finance brokers work within car dealerships. A finance broker would normally work 38 hours per week, Monday to Friday, but some finance brokers work after hours or on Saturdays. 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.

More information can be found via the Finance Brokers Association of Australia (FBAA) and the Mortgage and Finance Association of Australia (MFAA).

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, reentering the workforce or as an adult or matureaged 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 Coordinator 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. Please note that the Finance and Mortgage Broking Traineeship is not available as a school-based traineeship.

Required registration and licensing

To engage in credit activities and work as a Finance broker in relation to consumer credit in Australia, you require an Australian Credit Licence from the Australian Australian Securities and Investment CommissionFurther information regarding licensing requirements is available from the Australian Securities and Investment Commission (ASIC).