The Mortgage & Finance Association of Australia (MFAA) has released a new guide to help brokers handle staff and contractor exits effectively, as part of its commitment to supporting member businesses at every stage of growth.
Titled MFAA Resource: What to do when someone leaves your business, the guide offers clear, actionable steps for navigating the often complex process of offboarding team members.
“Members looking to grow and scale their business have shared their experiences, asking for more practical guidance on the often complex and challenging process of exiting staff – whether employed or contracted,” said Naveen Ahluwalia (pictured), executive of policy and legal at MFAA.
The guide comes as the broking sector continues to expand, with the MFAA’s latest Industry Intelligence Service report confirming broker market share hit a record 76.8% in March 2025, and residential settlements totalled $203.8 billion in the six months to September 2024.
The guide targets broking businesses that are expanding their teams and need clear procedures to protect their operations.
“We often see members sharing their experiences after an exit has gone badly – when it’s already too late and the fundamental building blocks weren’t in place,” Ahluwalia said. “This guide helps members put the right foundations in from the start, so they’re prepared before issues arise.”
Included in the guide are:
The resource was created in collaboration with the MFAA National Compliance and Regulatory Forum, ensuring its recommendations reflect current regulatory expectations and real-world challenges.
Forum president and AFG’s head of compliance, Shirley Elliot, said the guide is a vital tool for all brokerages.
“This comprehensive guide offers clear, actionable steps to ensure compliance and maintain operational stability and I highly recommended it for all business owners seeking to manage when they experience staffing changes,” Elliot said.
“Businesses can also use this guide during the onboarding process for employees or contractors, ensuring that the aspects covered are contemplated at the time an employment agreement or contract is established.”
Daniel Oh, group legal counsel at connective and member of the forum, said the guide empowers brokers to proactively safeguard their business.
“It’s about making sure things stay professional and focused on the client, even when someone moves on,” Oh said.
MFAA members can access the new resource under the legal and compliance section of the member portal’s broker toolbox. The guide forms part of MFAA’s broader push to equip members with tools that enhance business sustainability and regulatory readiness across the full broker lifecycle.
