Women building momentum by design in broking

Women make up just 26.8% of mortgage brokers in Australia, a share that has risen by only 1.2 percentage points across more than three years, according to the MFAA's Industry Intelligence Service report. This sector focus, sponsored by Bluestone Home Loans and Firstmac, brings together two senior women in lending to examine why structural barriers persist, what deliberate career strategy looks like in practice, and how AI and economic pressure are reshaping opportunity for women in broking.

Why are so few women entering mortgage broking in Australia?

Women accounted for just 32% of new brokers entering the profession between April and September 2024, almost identical to the proportion recorded in 2021, and the overall share of female brokers stands at just 26.8%. The slow pace of change reflects structural barriers rather than a shortage of capable candidates. Marie Mortimer, chief commercial officer at Firstmac, frames the cost plainly: 'This matters because the finance industry serves a broad range of Australians. Leadership teams need a mix of perspectives when making decisions about risk, products, service and customer outcomes.' Until organisations treat gender balance as a design problem rather than a pipeline problem, the numbers are unlikely to shift meaningfully.

What career advice do senior women in lending give to brokers earlier in their careers?

Both senior leaders emphasise acting before feeling fully ready, rather than waiting for confidence to arrive on its own. Jenny Ronald, chief product officer at Bluestone Home Loans, draws on a lesson from Sheryl Sandberg: 'Apply before you feel ready and grow with the role.' Mortimer agrees that confidence follows from doing the work, not preceding it. 'The focus should be on getting exposure to the core parts of the business, such as credit, funding, compliance and customer outcomes, and understanding how decisions actually get made,' she says. 'Sitting close to the work, rather than around the edges of it, makes a big difference.'

How should women in broking approach long-term career strategy?

Treating progression as deliberate planning rather than passive hope is the central message from Ronald. 'Treat your career like a strategy, not a hope,' she says. 'Put your hand up for work that challenges you, thinking of how you'll solve commercial problems and build skills for the job you want to have in two or three years' time. The best advice I ever got: Always plan for the role after the next one.' Ronald also argues that working across organisations of different sizes builds a distinct range of capability: 'Big businesses teach rigour; smaller ones teach ownership and instinct.'

What separates high-performing brokers in the current lending environment?

High-performing brokers go well beyond processing applications. Ronald identifies a clear pattern among brokers who consistently stand out: 'They're structuring solutions that hold up two or three years down the track, modelling scenarios, setting expectations early, staying close post-settlement. The result is cleaner applications, fewer surprises and lending that lasts.' Mortimer adds that in the current economic climate, women in lending are well placed to slow clients down and help them compare practical trade-offs around rates, fees, flexibility, repayments and longer-term affordability, turning thoroughness into a competitive advantage.

What role does AI play in opening up mortgage broking to women?

AI is a structural opportunity for women entering mortgage broking from adjacent fields, particularly because it reduces the administrative load that has historically rewarded years of industry experience over raw capability. Ronald is clear on the direction: 'AI will handle more of the admin. That's a good thing; it pushes the profession towards better judgement, sharper advice and stronger client relationships.' Faster access to policy and lender knowledge means newcomers can compete on capability sooner. Mortimer cautions that 'AI needs to be used safely, with people still applying quality assurance, judgement and care.'

What responsibility do lending organisations have in advancing women into leadership?

Progress requires deliberate organisational design, not goodwill alone. Ronald points directly to the decision-making rooms that shape the industry: 'We need more women in the rooms where credit, policy and product decisions get made to ensure these policies and products reflect the needs of the other half of the population.' She adds that organisations can accelerate this 'by being clear about what ready looks like, sponsoring women into visible roles and building flexibility that supports long careers.' Mortimer's standard is equally concrete: organisations must be 'clear on standards, give people meaningful responsibility, and back capability with real opportunity.'

What does consistency in gender progress require from the broking industry?

One-off recruitment pushes are not enough to shift the 26.8% share of female mortgage brokers in Australia. Mortimer is direct: 'Progress comes from consistency. It's not just about getting more women into the industry; it's about making sure they stay, develop and take on leadership roles over time. That only happens when businesses are clear on standards, give people meaningful responsibility, and back capability with real opportunity.' Ronald agrees that retention and visibility matter as much as entry, noting that when leadership is genuinely achievable, the sector unlocks broader talent and delivers better outcomes for clients.

Roundtable participants

Jenny Ronald: chief product officer, Bluestone Home Loans; career shaped by deliberate skill-building across large and small organisations; advocates for structural approaches to women's advancement in lending.

Marie Mortimer: chief commercial officer, Firstmac; based at Brisbane-based Firstmac Limited, an independently owned Australian financial services provider with more than 47 years' experience and $21 billion in home loans under management; focuses on proximity to core business functions as the foundation of career development.