The MFAA has relaunched its train-the-mentor program in a cheaper and shorter format.
The program is designed to give experienced brokers the skills needed to support new entrants to the industry during their first two years.
The course previously lasted five days and cost $3,630. The relaunched course lasts three days adn costs $1,650.
The lower cost and shorter duration means participants can save money and spend less time away from their businesses, whilst receiving specialised training and advice, says MFAA chief executive officer Phil Naylor.
"Many professionals entering the mortgage broking industry can struggle to get started in the first few years, due to the commission-based nature of the business. Mentors guide new entrants towards establishing successful businesses for themselves in a shorter timeframe," says Naylor.
Naylor said the mentor program was a key part of the MFAA’s ongoing efforts to raise professional standards and to ensure new entrants to the broking business are equipped to not only provide the best service, but also ensure the industry’s long-term growth.
Mentors give new entrants ongoing advice and support, which is key to developing the competence of new brokers.
"New talent needs to be properly trained and mentored to play a valuable role in society helping people identify the best options for what will probably be the biggest investment of their lives," says Naylor.