Reminder to brokers: Submit diploma course completion certificate by end of Jan

The MFAA is reminding any members who have not sent through their diploma course completion certificate must do so by January 31.

For brokers with more than five years' experience, the final day to submit your Fast Track for assessment is January 21.

“Failure to satisfy the obligations will render the member ineligible to maintain their MFAA membership.”

The MFAA says that, as part of its strategic review in 2010, the decision was made to increase educational requirements as part of a process to ‘increase the level of professionalism’ within the mortgage and finance industry.

Under this new structure, existing members must have enrolled in one of the following options by June 30 2012 and completed by January 31, 2013:

Option 1

• Diploma or upgrade Diploma in Financial Services (Finance/Mortgage Broking Management) FNS50504 or the Diploma of Finance and Mortgage Broking Management FNS50311 / FNS50310; and
• The MFAA Case Study

“All Diplomas from registered training organisations (RTO) are accepted, however, only the preferred vendors have incorporated the MFAA case study into their diploma qualification process. Should you obtain the Diploma qualification from an RTO not on the preferred vendor list, you will need to complete the MFAA case study through MFAA Pathways to meet membership requirements.”

Option 2

• Fast Track option, available to existing members with more than five years’ experience

“Many aggregators have elected to advocate the diploma as their preferred minimum education requirement. Please contact your aggregator whether they require the diploma before choosing between the diploma or fast track.”