Certificate IV in
Finance and Mortgage Broking
Accountants & Financial Planners Stream
AAMC Training Group has developed a tailored solution for Accountants and Financial Planners who are seeking to diversify into or change their career to become a Finance and/or Mortgage Broker, or work more closely with their broker partners. This stream considers relevant professional skills and knowledge against the qualification units of competence. The course provides a mix of both assessment-based learning and the provision of supporting evidence.
To be eligible for enrolment into this stream, the following criteria must be met;
- Minimum two years of experience as a qualified Accountant or;
- Minimum two years of experience as a qualified Financial Planner and hold an authorised representative or licensee status; and
- Been in a client-facing role within the last 12 months and have adequately demonstrated vocational experience that meets this level of qualification.
Additionally, the following must be satisfied:
- Provide a current CPD statement or record showing the last 12 months CPD points/hours.
- Present a qualified third party who can attest to your vocational experience across components of the course. These components will pertain to your financial services industry knowledge, compliance and regulation, and maintaining client relationships.
- Provide at least two third party professional referrers (ie; Bank Manager/Finance Broker), that can confirm they have built a working relationship with you.
*Do not provide any testimonials or evidence for the above, as suitable template documents will be provided as part of your post enrolment assessments.
Note: If you enrol into the incorrect course, an administration fee may be charged to transfer your enrolment. If you are unsure whether you meet the requirements of this course, please contact our team.
Once you have met the eligibility requirements detailed above and completed the enrolment process, you will have access to the learning material and assessments. These assessments comprise of:
- Evidence of your prior experience
- Online and written assessments – short answers, quizzes, and case studies
- Third party roleplays – video and/or industry qualified third-party observer
- An assessor interview – conducted by an AAMC Assessor
Compliance, Regulations and Legislation
This module is an introduction to the finance industry and the role of a Finance Broker. Learn about the many participants, sectors, and roles of the industry, including legislation and regulation impacting the role of a licensed finance broker, and how to operate compliantly using the systems and available supports.
Acting ethically is crucial to building trust with clients. Ethics is not only about responsible lending. Understanding more about ethical biases, cognitive biases, and psychological barriers is crucial to operating compliantly and building trust.
Ongoing business relationships are vital to sustaining a successful broking business. Discover how to engage and build relationships with clients, industry participants and third-party referrers.
Personal and Professional Development
This module focuses on managing professional development activities as well as prioritising and planning daily tasks and goals. Learn how to support a team with their work priorities and professional development.
Discover how to identify and prospect for clients in a target market using various marketing tools, networks, and lead acquisition methods. Prospecting is also the initial part of the onboarding and pre-qualification process.
Develop knowledge and understanding of different loan types and structures, including lender appetite and policy. This module illustrates the basics of how to commence the loan application journey with clients and manage the loan submission to post-settlement.
BSBPEF501 Manage personal and professional development
FNSFMK515 Comply with financial services regulation and industry codes of practice
FNSCMP501 Comply with financial services legislation
FNSINC411 Conduct work according to professional practices in the financial services industry
FNSINC514 Apply ethical frameworks and principles to make and act upon decisions
FNSCRD401 Assess credit applications
FNSCUS511 Develop and maintain professional relationships in financial services industry
FNSSAM413 Identify and provide initial information to potential new clients
FNSINC412 Apply and maintain knowledge of financial products and services
FNSFMB411 Prepare loan applications on behalf of clients
FNSFMB412 Identify client needs and present broking options
FNSFMB511 Implement credit contracts in preparation for settlement
Enrolment is valid for seven (7) months. Extensions of up to three (3) months may be granted upon request, an extension fee will apply.
Although we provide seven (7) months to complete this course, we expect that collection of supporting evidence and completion of gap assessments should take less time. Based on previous student data from this course stream we have established that the course may be done within 4-6 weeks. This will also largely depend on time available and capacity.
Online (remote self-paced)
Distance learning: online self-paced learning is for students who have the capacity and ability to study with minimal guidance. If you are new to industry and/or study, we strongly suggest completing your course via virtual classroom.
Available for groups of six or more. Please contact one of our team to discuss the options.
You may be able to claim credit transfer for a unit/s of competency that you have previously completed with AAMC Training or another RTO. If you have been awarded a record of results or statement of attainment for any of the units detailed in your course, you can request a credit transfer for those units. You must provide a certified copy of your record of results or statement of attainment. Your credit transfer request will then be reviewed, and you will be notified of the outcome by email.
16 CPD hours
Technical = 3 hours
Client care and practice = 4 hours
Protection = 6 hours
Professionalism and ethics = 3 hours
Post-Nominal – CertIVFMB
Payment can be made with credit card during the enrolment process or via the online learner portal, once the enrolment is complete. Alternatively, payments are accepted via bank transfer, the invoice number must be entered as the reference. Access to material and assessments will be granted once funds have cleared in our account.
Some industry bodies and participants recognise the FNS50322 Diploma of Finance and Mortgage Broking Management as the minimum qualification required to maintain membership, be part of their license or be accredited to offer their products.
Please contact your aggregator and/or association to determine whether the Cert IV level is suitable for membership.
For more information about our Accountants and Financial Planning stream of the Diploma, click here. To view the standard Diploma information, click here. Existing students may receive a discount on this course.
About The Mortgage Broking Industry
In general, Finance and Mortgage Brokers may perform the following duties;
- Prospect for new clients and referral partners;
- Assist clients in obtaining loan or lease options that are ‘not unsuitable’ to meet their finance requirement/s by assessing their needs, eligibility and capacity to service the required debt;
- Research, present and negotiate suitable products based on the information presented to meet their clients’ requirements;
- Assist clients requiring further products and services by linking them to the required product or services provider, such as personal protection insurance or financial advice;
- Apply for the loan/lease facility with the chosen lender on behalf of the client, monitor the progress of the application through to settlement;
- Provide client after-care service to their clients;
- They may also start or own a business, which will involve the day-to-day tasks required to set up and manage the business.
When the client has selected a product that suits their lending requirements and goals, the broker will lodge the loan/lease application with the chosen lender with whom they will need to be accredited (often via their Aggregator/licensee). The broker’s role is to ensure that the loan/lease is managed through to settlement, maintaining contact with the client and ensuring the client is satisfied with the service provided. The broker may earn a commission from the lender and/or charge a fee for their service. The commission may be paid via their Aggregator (licensee), who may take an agreed % of this money and pass the remaining amount to the broker. For example, a mortgage loan commission is often made up of an upfront payment, which can vary between 0.5% and 0.7% of the loan amount and a trailing commission of between 0.15% to 0.25% of the loan amount (paid over the life of the loan) whilst the broker is still managing that loan for the client. Commissions may cease if the client refinances their loan without engaging the broker or they pay it out in full. Payments may vary between lenders, and clawback may apply when a client terminates the loan early, usually within the first 24 months.
A Finance broker’s potential earnings will depend on the size and number of loans they settle. Aggregator Partnership or Business Development Managers may assist new to industry brokers with strategies on how to achieve a desired level of income. However, like any business it is up to the individual to realise their own goals.
Mortgage Brokers generally assist clients in acquiring loans to purchase, build or refinance residential property for owner occupation or investment.
Finance Broker is a broader term used by industry but can mean the broker’s main source of business is assisting clients to acquire loans and/or leases to purchase assets for business and personal use, such as equipment, motor vehicles, and business equity. They may also assist clients in acquiring home loan finance.
The finance and mortgage broking industry is regulated by the Australian Securities and Investment Commission (ASIC). The Certificate IV in Finance and Mortgage Broking is the minimum requirement for business professionals who provide retail consumer credit advice (for consumer loans). They must become accredited under the National Consumer Credit Protection Act (NCCP) and hold a Credit Representative status (CR) under an Australian Licence Holder (ACL). Finance Brokers that do not offer consumer credit advice will not be required to hold an ACL or become an ACR of that licensee.
An Aggregator is a true business partner offering new to-industry brokers to start their journey with confidence. New-to-industry brokers must become licenced as a credit representative under the Aggregator’s credit licence. Aggregators provide business set-up guidance through an onboarding process. They also offer ongoing coaching, access to a range of lenders products via an accreditation process, loan lodgement and client management platform, broker commission payments and a compliance framework to ensure the finance broker operates compliantly. Other services include marketing, business planning and operational support, client acquisition strategies, networking events and professional development. Their fees vary from a monthly fee to a percentage of commission earned.
Industry associations advocate for the rights of those operating within the industry. They lobby the government to keep the industry fair and transparent for its members. Becoming a member of one or more industry associations is mandatory for many Aggregators. Membership provides benefits such as networking and professional development events, industry regulation updates, business support and professional development training.
Finance Brokers offering consumer credit advice may be required to be mentored for a minimum of 24 months. Mentors work closely with brokers to ensure they proactively learn all facets of the role whilst ‘on the job’. The industry requires them to teach and coach their broker mentees, attend client interviews, and review loan applications before submitting them to the chosen lender.
The AAMC Training team are more than happy to refer you to our industry partners for those who have yet to speak to someone in the industry.
For further regulatory information regarding the National Consumer Credit Protection Act (NCCP), visit the ASIC website link here: National Credit Code | ASIC.
AAMC Training Group is a wholly Australian-owned Registered Training Organisation (RTO number 51428), operating nationally and internationally.
Our Industry Associations
Have Further Questions?
Continual Professional Development (CPD) provides each individual with a framework within which they must take responsibility for their own learning.
A number of associations have CPD programs in place and the CPD has become a legal requirement in many sectors of the finance industry.
Hours are awarded for each activity and these hours are set by the relevant associations or the regulatory bodies pertaining to the relevant profession.
AAMC Training Group is a wholly Australian owned Registered Training Organisation (RTO number 51428), operating nationally and internationally.
All of our qualification courses are both nationally recognised by the FBAA and MFAA.