FBAA commissions reverse mortgage training

by Miklos Bolza08 Jun 2017
The Finance Brokers Association of Australia (FBAA) has announced a new reverse mortgage training course for brokers regardless of industry affiliation.

The course, which has been commissioned through a leading registered training organisation (RTO), will help fill in the gap caused by the collapse of equity release training Sequal earlier this year, FBAA executive director Peter White said.

“AAMC Training Group, our preferred [RTO], was selected to supply this for the industry given their skills and expertise in providing quality high-end educational content,” he said. “The course will be available to the whole industry and not just FBAA members.”

The training has been developed to educate financial service providers who wish to support seniors with an equity release (ER) loan facility such as a reverse mortgage.

Three modules have been created for this training including:
  1. Fundamentals
  2. Equity release products explored
  3. Client support process and working collaboratively
Brokers need to understand the full process when discussing reverse mortgages with clients, said AAMC training spokesperson Michelle Firth.

“It’s imperative that professionals such as finance brokers understand the fundamentals to successfully engage clients, understand the risks, effectually market equity release products, recognise advice limitations and work proficiently with other professionals in the client advice process.”

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