The Future for Part-time Brokers The term 'Part-time Broker' can be misleading and is, unfortunately, often used to suggest that the individual is less skilled, competent or business-like than their full-time counterpart. At I-Financial Group we acknowledge that many so-called Part-time Brokers have the requisite skills, attitude and knowledge to elegantly and ethically serve their Clients' needs. Indeed, we know that many of you are in Practice in affiliated professions or services such as Accounting, Law, Financial Planning or Real Estate.  In other words Broking may not be your full-time occupation but you do have a full-time business focus. We also respect the fact that others of you have had extensive industry experience over many years and have simply chosen to reduce the number of hours you wish to work each week - but are not yet ready to be forced out of the industry. The Challenge The problem facing anyone who does not intend to make Broking their full-time income source, or full-time focus within a broader business context, is that lender policies coupled with licensing and compliance requirements may make part-time Broking untenable. While many aggregators are currently coming to grips with the need to provide the Australian Credit License (ACL) under which some of their Broker Members may choose to be appointed as Credit Representatives that still doesn't fully address the following hurdles: Many lenders are removing accreditations purely on the basis of volume to that lender Other lenders are taking the view that they will only accredit full-time Brokers Still other lenders are basing accreditation on whether the Broker operates from commercial office space ASIC licensing requirements will require an ACL holder to prove that they have sufficient financial resources and compliance systems in place - which are unlikely to be demonstrable by many part-time operators While a Broker can avoid some of the more onerous requirements by being a Credit Representative - this pushes the compliance concerns back onto the ACL holder and this must come at a price.  [Compliance and compliance checking is not to be taken lightly nor is it an inexpensive process - just look at the costs imposed on AFSL holders in the Financial Planning arena] Being a Credit Representative may alleviate the licensing challenge - but doesn't address lender accreditation challenges The Solution At the I-Financial Group we are not naive enough to think that there will be a "one size fits all" solution to the accreditation and licensing dilemmas facing part-time and / or lower volume Brokers. However, we do have a proposed structure that we believe is unique in addressing the significant challenges while availing you of the opportunity to not just continue Broking - but actually enhance and increase your business as opposed to being forced out of the Industry. This opportunity will allow a Broker to: Be appointed as a Credit Representative under the I-Financial Group ACL Maintain accreditation to write loans to I-Loan Finance ~ without any volume hurdles or other arbitrary metrics.  Brokers receive 100% of the commission on I-Loan Finance loans   Choose to maintain accreditations to whichever of the 'Big Banks' the Broker wishes to - subject to meeting that lenders requirements, including volume  Maintain access to 25+ lenders through an embedded and compliant referral process where our employed (accredited) Brokers write the loan while the referring Broker maintains the Client relationship and receives a generous commission share  Gain access to significant additional business building resources and add-on revenue streams.  All of these are systematised for embedment at the Broker's Practice level.  These include:  Insurance - both personal risk and general insurances Investment Property Commercial and Business Finance SMSF lending Leasing, plant & equipment finance Financial Planning Be assisted with compliance and Continuing Professional Development Be assisted with Business Development if desired (see our Practice Management page for more information) More Information For more information about this opportunity please email Craig Morgan at craigm@ifinancialgroup.com.au or CLICK HERE to register your interest or make an enquiry.

BACK to "My Future" HOME PAGE                             BACK to "My Future" HOME PAGE                             BACK to "My Future" HOME PAGE                             BACK to "My Future" HOME PAGE