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Becoming a broker does require education. The minimum qualification to enter the finance broking industry is to complete a Certificate IV in Finance and Mortgage Broking (FNS40821). This training is available through TAFE and many private providers, including AAMC.
How to become a financial dealer in Australia?
Follow these steps for how to become a professional financial dealer: Get your secondary school certificate, or the equivalent. Complete a relevant accredited degree. Apply for an Australian Financial Services (AFS) Licence. Join a professional association.
How do you become a financial broker?
What does it take to become a financial broker? Take a personal inventory. Taking personal inventory means recognizing and listing your assets before taking action. Complete a bachelors degree. Complete a financial management training course. Gain work experience. Seek a junior position. Keep learning.
What is the commission for a broker in Australia?
In Australia, these rates typically range from 0.5% to 0.7% of the loan amount. For instance, on a $500,000 loan, a broker might earn an upfront commission of $2,500 to $3,500. These commissions are influenced by factors such as lender policies, loan types, and market competition.
How much do finance brokers make in Australia?
The average finance broker salary in Australia is $120,000 per year or $61.54 per hour. Entry-level positions start at $83,750 per year, while most experienced workers make up to $200,000 per year.
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