The need to attract and retain high quality brokers to the industry has been a hot topic of late, with most industry stakeholders in agreement that broking needs to become a career of choice, particularly among young people.
Intellitrain CEO, Paul Eldridge, says the pathway to becoming a broker is exciting, yet challenging - not only for the new entrant, but for their potential employer as well.
“The cost of training a new broker is often prohibitive for industry. The cost for a new broker to undertake their core compliance training, that is, doing their Cert IV or Diploma is actually only a fraction of the total cost…and in some cases less than 10%,” says Eldridge.
New brokers require their Cert IV or Diploma, on-the-job training and mentoring, technology, a CPD solution for ASIC compliance, AML/CTF and they need to register within an EDR – and that’s just the minimum, according to Eldridge.
“The cost of mentoring alone to business owners can run into the tens of thousands taking into consideration lost income. That’s why, in consultation with our key industry partners, we’ve developed an innovative New Entrants Program which provides a new broker everything they need for their first two years – no one in the industry has been able to offer such a comprehensive solution and all within a single program.”
Intellitrain’s program removes one of the major barriers, he says: the upfront cost of qualifications and mentoring.
“We’re the only RTO in the broking industry at present able to offer this with absolutely no upfront cost.”
To help brokers and potential employers gain a better understanding of the program, how it’s structured and the ability to fund the program with no upfront costs, Intellitrain is holding a free webinar ‘at lunch’ on Tuesday, October 22.
“The interest in last week’s free webinar was fantastic with more than 200 brokers registering.”