Frequently asked questions
What does a finance broker do?
Brokers work to help clients secure loans. To become certified as a financial broker, you must first complete one of many finance courses.
Entry Education delivers relevant training that is nationally recognised to help kick-start the careers of future mortgage or finance brokers. Students at Entry Education benefit from learning from tutors with industry experience that pass on invaluable knowledge about the nature of the industry and its future.
With the flexibility of online learning, students can study to get certified whilst still working full-time. For some finance courses, there are no exact due dates; you are given 12 months from your date of registration.
How do I become a certified finance and mortgage broker in Australia?
The first step to becoming a broker is through one of Entry Education’s online finance courses. the FNS40820 Certificate IV in Finance and Mortgage Broking is specified by the Australian Securities and Investments Commission’s Regulatory Guide (RG 206) as the minimum requirement when becoming a mortgage broker.
Upon completion of a finance course, to then become successful, you’ll need to complete the accompanying diploma. Having a diploma and the certificate will significantly increase your chances of gaining employment and increase your mastery of the skills involved in the industry.
To cover yourself for the advice you give to your future clients, you must ensure that you have the right Professional Indemnity Insurance.
Both finance courses offered provide prospective students with invaluable resources and knowledge that will help them excel as a finance or mortgage broker.
What skills do I need to shine as a mortgage or finance broker?
Beyond certification from one of the Entry Educations Finance Courses, there are a few skills you’ll need to invest in if you are dreaming of becoming a successful mortgage or finance broker, including:
1. Negotiation skills
Getting the best offer for your client involves how well you can negotiate with the appropriate party to ensure the best possible solution.
2. Passion for helping others
Whilst a passion for helping can’t be taught by the book, it is worth understanding the necessary empathy required to really help clients. Including following up on the progress of each loan from application, continuing until after settlement – while also updating your client throughout each step in the process. Avoid hassling clients for information and be ready to answer their questions at every stage. Having a passion for helping others will enhance your reputation as a broker and allow you to build and extend your working relationships.
3. Excellent investigative ability
A successful broker is someone that is determined to explore every possible avenue for their clients. Research skills combined with analytical capability are required to properly assess borrowing capacity, deposit amounts, as well as other fees and return to the client a final figure. Determining the most suitable option from a range of results requires a high-level methodological skill.
Are there any entry requirements for these courses?
There are no formal entry requirements for those looking to enrol into either of Entry Education’s finance courses. Both the Certificate IV in Finance and Mortgage Broking (FNS40821) and the Diploma of Finance and Mortgage Broking Management (FNS50320) only require completion of an LLN (language, literacy, and numeracy) quiz before beginning the course.
Beyond that, students will need to register for a Unique Student Identifier (USI) as well as have reliable internet and access to a personal computer.