The Finance Brokers Association of Australia (FBAA) has publicly welcomed the outcomes of the recent Seniors Equity Release Industry Forum (SERIF), describing the gathering as a pivotal step towards addressing Australia’s growing retirement savings challenge.
According to FBAA, the forum, convened in November and bringing together industry stakeholders including reverse mortgage lenders, specialist broker groups, academics and advisers, has broadened the discussion around how equity release products can support older Australians’ financial security.
FBAA managing director Peter White AM said the forum underscored the importance of a coordinated, nationwide approach to one of the country’s most significant structural issues: the retirement income shortfall.
“Not only do older Australians require funding for a dignified, secure retirement, but reverse mortgages present finance and mortgage brokers with a great opportunity to diversify,” White said, emphasising the need for enhanced broker expertise in this emerging segment of the market.
White reiterated that reverse mortgages differ substantially from standard home loans, requiring “specific knowledge” for brokers to effectively serve clients. His comments suggest broader efforts by the FBAA to extend education and professional development for its members.
SERIF’s November session presented demographic data signalling sustained demand for equity release solutions as Australians age with significant housing wealth but limited savings. Speakers, including Seniors First director Darren Moffatt, argued that such products should be regarded as mainstream policy tools rather than niche options.
Stephen Rasmussen, chair of SERIF, highlighted the disconnect between the retirement savings shortfall and the home equity held by many retirees. He said responsible use of equity release could help close this gap “without forcing older Australian homeowners to downsize, let alone struggle in funding their retirement.”
The FBAA’s engagement in SERIF aligns with its broader strategy to advocate on behalf of mortgage and finance brokers, whose numbers have grown in recent years. FBAA research shows the national broker population has reached record levels.
Industry commentators have noted that brokers increasingly guide consumers through complex lending landscapes, with high trust levels reported among borrowers.
The association has also been active on other fronts this year, including national conferences such as the “Broker X” event on the Gold Coast, where FBAA leaders addressed market growth, emerging trends and professional development priorities.
Through SERIF and other initiatives, the FBAA is seeking to shape policy, improve broker capability, and raise public understanding of how finance professionals can support Australians in later life.
