The MFAA has launched a new training program to help brokers diversify into equipment and commercial finance.
The training program will consist of three modules divided into beginners and intermediate advanced and master class.
The beginners and intermediate program is designed for residential specialists who want to commence building an equipment and commercial portfolio. The course consists of four online modules that cover market, products & services and business practices. The course will cost brokers $400 plus GST and will award four CPD hours.
The advanced program is designed so existing finance brokers can improve their knowledge and business practices through completing a set of modules followed by a one day workshop covering financial analysis, business entities and practical case studies. The advanced course will cost brokers $600 plus GST and will award six CPD hours.
Brokers can enrol in both the beginners and the advanced module immediately however the third module, the master class series will be available in 2016. This program will involve peer to peer learning from top equipment and commercial finance brokers.
Siobhain Hayden, the chief executive of the MFAA, said this will help brokers diversify and future-proof their business.
“The MFAA is encouraging all brokers to look at services diversification as a way of maintaining income sustainability within their businesses. Many of the residential loans that brokers write are for small business owners who may require business or equipment so this will give many the skills to add a revenue stream,” she said.
According to Hayden, the association has worked with its members and have partnered with the Institute of Strategic Management to ensure the platforms are of high value. Both ANZ
have also signed on as partners to the program.