Early intervention to ensure brokers are compliant with ASIC guidelines is integral, no matter the size of the brokerage and Daryl Hill from La Trobe Financial tells BrokerTV one thing is for certain: Regulation is here to stay.
“From La Trobe Financial’s perspective, brokers really need to embrace a greater degree of compliance and regulation. It’s not going to go away. The earlier that that can be embraced, saying ‘let’s work with it for the betterment of the industry - and also the consumer', that’s really one of the key components.”
Hill adds that brokers can’t afford not to invest in compliance education, both for themselves and other key stakeholders.
"It might be a single operation, it might be a small company, or it might be a larger company. But at the end of the day, they’re working with the consumer, putting them into a better product or their first mortgage product. They need to have a complete understanding, they need to have that compliance, because it won’t go away."
To watch the full interview with Daryl Hill, CLICK HERE