Aggregator Finsure Group is working to address the toll that the fast-paced mortgage industry can take on brokers’ mental health, introducing targeted support programs during Men’s Health Week (June 9-15) and beyond.
“Many brokers are usually so busy they don’t get the chance to even have lunch, let alone unwind after a long working day,” Bednar said. “Add to that the pressures of financially supporting themselves and their family in a competitive industry and sometimes it can just be overwhelming.”
To support its network, Finsure has introduced a free webinar series called The Psychology of a Broker, hosted by organisational psychology and wellbeing expert Phill Krins (pictured above right).
“The importance of looking after their mental health is becoming acknowledged among the broking community,” Bednar said. “The Psychology of a Broker sessions offer tools and strategies to help brokers reduce stress, improve their productivity, foster stronger relationships with clients and colleagues and better integrate their work life with their personal life.”
As part of Men’s Health Week, Finsure is also running a national fundraising campaign with the Black Dog Institute and has launched a new panel discussion series at professional development days titled, Mind Matters – Transforming the Narrative on Mental Health.
“Representatives from our broker network, lender partners and Finsure staff have been sharing their experiences, sparking an open discussion around mental health,” Bednar said.
Many in the profession face a “perfect storm” of emotional and financial strain — long hours, volatile markets, and the pressure to help clients secure life-changing loans. Witnessing customers’ dreams of homeownership fall through can also be emotionally taxing.
Clawback policies are adding to the pressure, with an FBAA-CoreData survey finding 80% of brokers were affected last year—nearly half losing over $10,000—causing widespread anxiety, financial strain, and low morale.
Krins emphasised the need for mental health support in mortgage broking, noting the isolation and stigma that can surround the profession.
“Mortgage broking can be a very lonely career path, lacking the usual guardrails,” he said.
“We also find that in such a male-dominated industry, there aren’t many open discussions about mental health, with men tending to put up emotional walls and opting to suffer in silence.”
Krins said early results from his work with brokers have been encouraging.
“I’m working with several mortgage brokers directly and already have noticed a positive difference in their work performance, but more importantly, their personal wellbeing,” he said.
“With these regular sessions to the Finsure network, I can reach a wider audience and spark conversations that really make a difference.”
