GOLD COAST – More than 650 mortgage broking industry professionals arrived in the Gold Coast Friday for a dose of sunshine, Halloween vibes and the Finance Brokers Association of Australasia's (FBAA) 2025 national industry conference.
The conference and expo – dubbed "Broker X" – brought together brokers, BDMs, lenders, service providers and other industry professionals from across Australia for a day of learning, networking and exploring what's next for the sector.
"One of the great takeaways from here is the vibe: you can't hear yourself think; people are talking and engaging with sponsors and exhibitors. There's some great learning and content happening in the main auditorium. And we've got some really, really important members here," Peter White, the long-serving managing director of the FBAA, told Australian Broker. "So the conference is really good."
Peter White, managing director of the FBAA, during his keynote address.
During his keynote speech, White addressed Australia's growing broker market.
"Our market has grown. So naturally we need more brokers," White said on stage.
In Australia, broker numbers tipped 22,000, according to research firm CoreData Insights. In terms of the FBAA, membership has also grown, to 13,725 members.
"And of course we have a whole host of new initiatives for new growth," White said.
"But we're not getting any younger," he added. "We see it in our member numbers. When we look at our net growth, basically half of what we take on during the year, basically half of those [members] retired. So we need to make sure we bring people in from underneath to keep fostering our future. And making sure we're looking after the borrowers of the future as well."
Also on the agenda items, the broking industry association announced a new chairman, Melbourne-based Brett Spencer, founder and chief executive officer of tech firm DocuScan Australia, effective immediately.
"Brett has been a valued member of the board for the past two years and the transition will be seamless," White said.
Spencer said: "It’s a great honour to take on the role. Carter will remain on the larger board for another year.
"The FBAA board is not about one person but about the collective," he added. "Our focus is firmly on our members."
Spencer replaces Tony Carter, who served as chairman of the group since 2017.
The day-long conference includes sessions that cover topics such as economic insights, emerging trends, the impact of AI, the future of broking and more.
Andrew Inwood, founder and principal of CoreData, took the stage to make the case that Australia’s economic outlook remains strong.
"Australia is a safe haven for economics at the moment," he said. "We have a stable government and money is going to keep flowing into this country."
The economist added, however, that brokers face challenges from banks expanding their direct channels, as well as growing competition among brokers.
"We're going to see rising competition among brokers," Inwood said.
But Inwood added, there's plenty of space for brokers to diversify and increase revenues.
"The future is bright," he said.
