FNS40821 Certificate IV in Finance and Mortgage Broking
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The FNS40821 Certificate IV in Finance and Mortgage Broking is the minimum qualification required for individuals seeking self-employment or salaried positions as Finance/Mortgage Brokers within established firms. This qualification is also highly regarded for roles in Loans Administration, Para-Broking, and similar positions.
Why choose this course?
- Comprehensive Curriculum: Gain vocational skills and knowledge to confidently step into a new career.
- Regulation and Compliance: Understand essential regulations and compliance requirements.
- Ethics and Professional Development: Learn about ethical practices and ongoing professional development.
- Client Acquisition Techniques: Discover effective methods to find new clients.
- Loan Process Management: Master the steps involved in assisting clients with loan applications, compliance documentation, and managing the loan process from submission to post-settlement.
- Ongoing Client Contact: Learn the importance of maintaining contact with clients and third parties.
Specialised stream for Accountants & Financial Planners
The FNS40821 Certificate IV in Finance and Mortgage Broking – Accountants & Financial Planners stream is tailored for qualified Accountants or Financial Planners with at least two years of experience in the financial services industry. For more information, CLICK HERE.
Course Information
Course Modules
Compliance, Regulations and Legislation
This module introduces the finance industry and the role of a Finance Broker. Learn about the various participants, sectors, and roles within the industry, including the legislation and regulations that impact the role of a licensed finance broker. Understand how to operate compliantly using available systems and supports.
Ethics
Acting ethically is crucial for building trust with clients and operating compliantly. Ethics extends beyond responsible lending; it involves understanding ethical biases, cognitive biases, and psychological barriers.
Professional Relationships
Ongoing business relationships are vital for sustaining a successful broking business. Discover how to engage and build relationships with clients, industry participants, and third-party referrers.
Personal and Professional Development
Managing professional development activities, prioritising and planning daily tasks and goals are vital to ensuring continuous growth and efficiency in your professional life. Learn how to support a team with their work priorities and professional development.
Potential Clients
Building a successful business relies on being able to identify and prospect for clients. Learn how to identify target market using various marketing tools, networks, and lead acquisition methods. Prospecting is also the initial part of the onboarding and pre-qualification process.
Loan Application
Develop knowledge and understanding of different loan types and structures, including lender appetite and policy. This module covers the basics of commencing the loan application journey with clients and managing the loan submission to post-settlement.
Each module consists of a range of assessment types:
- Written Assessments
- Online Quizzes
- Third Party Role Plays
Units of Competency
BSBPEF501 Manage personal and professional development
FNSFMK515 Comply with financial services regulation and industry codes of practice
FNSCMP501 Comply with financial services legislation
FNSINC411 Conduct work according to professional practices in the financial services industry
FNSINC514 Apply ethical frameworks and principles to make and act upon decisions
FNSCRD401 Assess credit applications
FNSCUS511 Develop and maintain professional relationships in financial services industry
FNSSAM413 Identify and provide initial information to potential new clients
FNSINC412 Apply and maintain knowledge of financial products and services
FNSFMB411 Prepare loan applications on behalf of clients
FNSFMB412 Identify client needs and present broking options
FNSFMB511 Implement credit contracts in preparation for settlement
Course Duration
Enrolments are valid for a period of seven (7) months. Course extensions of up to three (3) months may be granted upon request, with an applicable extension fee. Please refer to our terms and conditions for more information.
While we provide seven (7) months to complete the course, individuals with an industry background or an understanding of the broking process may finish in a shorter time frame. This largely depends on personal capacity and available time. Those without an industry background but with more availability to study may also be able to complete the course within a shorter time frame.
Delivery Options
Online (remote self-paced)
Distance learning: Online self-paced learning is suitable for students who have the capacity and ability to study with minimal guidance. However, for those new to the industry or unfamiliar with the study material, we strongly recommend completing the course via virtual classroom.
Virtual class (blended learning)
Virtual class is the most appropriate option for individuals new to the industry. Attend a virtual class workshop from home or office, delivered via Zoom. Our highly experienced trainers guide participants through each module using ‘true to life’ client scenarios. Assessments are expected to be completed post-class, with our trainer covering the requirements during the sessions.
Virtual class schedules:
- 5 sessions delivered in 3 days (Conducted over 3 consecutive days OR consecutive months – Flexible training options)
- 9:30 am – 4 pm Eastern Standard Time
- Zoom links accessible from the Learner Portal
Recognition of Prior Learning and Credit Transfer
Recognition of Prior Learning
If you have industry experience or have completed prior training, you may be eligible for Recognition of Prior Learning (RPL). Refer to the RPL information page for eligibility information.
Credit Transfer
Credit transfers can be applied to units of competency previously completed with AAMC Training or another Registered Training Organisation (RTO). If you have been awarded a record of results or a statement of attainment for any of the units detailed in this course, you can request a Credit Transfer for those units. You must provide a certified copy of your record of results or statement of attainment if completed with an RTO other than AAMC Training. Your credit transfer request will then be reviewed, and you will be notified of the outcome by email.
CPD Hours and Post Nominal
Online/Virtual: 18 CPD hours
RPL: 10 CPD hours
Post-Nominal – Cert.IV FMB
Payment Options
Payment can be made with credit card during the enrolment process or via the online learner portal, once the enrolment is complete. Alternatively, payments are accepted via bank transfer, the invoice number must be entered as the reference. Access to material and assessments will be granted once funds have cleared in our account.
Pathways
The FNS40821 Certificate IV in Finance and Mortgage Broking includes units that may be credited towards your enrolment into the FNS50322 Diploma of Finance and Mortgage Broking Management Upgrade Course. Please refer to our credit transfer process to find out more about this.
Some industry bodies, aggregators and lenders recognise the FNS50322 Diploma of Finance and Mortgage Broking Management as the minimum qualification required to maintain membership, be part of their license, or be accredited to offer their products.
To learn more about our FNS50322 Diploma of Finance and Mortgage Broking Management Upgrade, click here.
Student Support
Student support is available via the learner portal, email, and telephone.
Our Student Support and Resources page has information available including:
- Additional training and tutorials
- Reasonable adjustment
- Counselling and personal support
- Mental health assistance
About the Mortgage Broking Industry
What do Finance and/or Mortgage Brokers do?
In general, Finance and Mortgage Brokers may perform the following duties;
- Prospect for new clients and referral partners;
- Assist clients in obtaining loan or lease options that are ‘not unsuitable’ to meet their finance requirement/s by assessing their needs, eligibility and capacity to service the required debt;
- Research, present and negotiate suitable products based on the information presented to meet their clients’ requirements;
- Assist clients requiring further products and services by linking them to the required product or services provider, such as personal protection insurance or financial advice;
- Apply for the loan/lease facility with the chosen lender on behalf of the client, monitor the progress of the application through to settlement;
- Provide client after-care service to their clients;
- They may also start or own a business, which will involve the day-to-day tasks required to set up and manage the business.
When the client has selected a product that suits their lending requirements and goals, the broker will lodge the loan/lease application with the chosen lender with whom they will need to be accredited (often via their Aggregator/licensee). The broker’s role is to ensure that the loan/lease is managed through to settlement, maintaining contact with the client and ensuring the client is satisfied with the service provided. The broker may earn a commission from the lender and/or charge a fee for their service. The commission may be paid via their Aggregator (licensee), who may take an agreed % of this money and pass the remaining amount to the broker. For example, a mortgage loan commission is often made up of an upfront payment, which can vary between 0.5% and 0.7% of the loan amount and a trailing commission of between 0.15% to 0.25% of the loan amount (paid over the life of the loan) whilst the broker is still managing that loan for the client. Commissions may cease if the client refinances their loan without engaging the broker or they pay it out in full. Payments may vary between lenders, and clawback may apply when a client terminates the loan early, usually within the first 24 months.
A Finance broker’s potential earnings will depend on the size and number of loans they settle. Aggregator Partnership or Business Development Managers may assist new to industry brokers with strategies on how to achieve a desired level of income. However, like any business it is up to the individual to realise their own goals.
What is the difference between a Finance and Mortgage Broker
Mortgage Brokers generally assist clients in acquiring loans to purchase, build or refinance residential property for owner occupation or investment.
Finance Brokers is a broader term used by industry but can mean the broker’s main source of business is assisting clients to acquire loans and/or leases to purchase assets for business and personal use, such as equipment, motor vehicles, and business equity. They may also assist clients in acquiring home loan finance.
Becoming an accredited Finance Broker
The finance and mortgage broking industry is regulated by the Australian Securities and Investment Commission (ASIC). The Certificate IV in Finance and Mortgage Broking is the minimum requirement for business professionals who provide retail consumer credit advice (for consumer loans). They must become accredited under the National Consumer Credit Protection Act (NCCP) and hold a Credit Representative status (CR) under an Australian Licence Holder (ACL). Finance Brokers that do not offer consumer credit advice will not be required to hold an ACL or become an ACR of that licensee.
An Aggregator is a true business partner offering new to-industry brokers to start their journey with confidence. New-to-industry brokers must become licenced as a credit representative under the Aggregator’s credit licence. Aggregators provide business set-up guidance through an onboarding process. They also offer ongoing coaching, access to a range of lenders products via an accreditation process, loan lodgement and client management platform, broker commission payments and a compliance framework to ensure the finance broker operates compliantly. Other services include marketing, business planning and operational support, client acquisition strategies, networking events and professional development. Their fees vary from a monthly fee to a percentage of commission earned.
Industry associations advocate for the rights of those operating within the industry. They lobby the government to keep the industry fair and transparent for its members. Becoming a member of one or more industry associations is mandatory for many Aggregators. Membership provides benefits such as networking and professional development events, industry regulation updates, business support and professional development training.
Finance Brokers offering consumer credit advice may be required to be mentored for a minimum of 24 months. Mentors work closely with brokers to ensure they proactively learn all facets of the role whilst ‘on the job’. The industry requires them to teach and coach their broker mentees, attend client interviews, and review loan applications before submitting them to the chosen lender.
The AAMC Training team are more than happy to refer you to our industry partners for those who have yet to speak to someone in the industry.
For further regulatory information regarding the National Consumer Credit Protection Act (NCCP), visit the ASIC website link here: National Credit Code | ASIC.
FNS50322 – Diploma in Finance and Mortgage Broking Management – AAMC Training Portal
A post on AAMC Training Portal provided by: https://portal.aamctraining.edu.au
Contact Us
- 03 9391 3643
- Int +61 39391 3643
- Suite 102, 139 Cardigan Street, Carlton VIC 3053
FNS40821 Certificate IV in Finance and Mortgage Broking
Use Code: VC2025 at checkout for Virtual Class discount.
*Discount cannot be used in conjunction with another offer, and is only valid for new enrolments.
Frequently Asked Questions
Do I need to complete a Certificate IV AND a Diploma?
No, you do not have to complete both a Certificate IV and a Diploma of Finance and Mortgage Broking. The Certificate IV (FNS40821) is typically the entry-level qualification required to start working in the finance and mortgage broking industry.
Can I upgrade to a Diploma after completing this course?
Yes, there are pathways to upgrade to a FNS50322 Diploma of Finance and Mortgage Broking Management after completing the Certificate IV.
Is the Diploma more highly recognised than a Certificate IV?
Yes, the FNS50322 Diploma of Finance and Mortgage Broking Management is generally more highly recognised than the FNS40821 Certificate IV in Finance and Mortgage Broking. The Diploma may also be the minimum standard for many lenders, aggregators and industry associations.
Do I have to hold a Certificate IV to become a finance or mortgage broker?
A Certificate IV is the minimum requirement for those seeking a career in mortgage broking. If you are looking to become a finance broker specialising in non-consumer loans, you may not be required to complete a Certificate IV but it is a highly regarded qualification.
Do I need a Certificate IV if I am working for a finance or mortgage broker?
This would depend on your role of responsibilities. A certificate IV is highly regarded for anyone seeking to provide support services to mortgage and/or finance brokers and their clients, but may not be a mandatory requirement.
Is this course nationally recognised?
AAMC Training Group is a wholly Australian owned Registered Training Organisation (RTO number 51428), operating nationally and internationally.
Is this course accepted by industry associations?
All of our qualification courses are both nationally recognised by the FBAA and MFAA.
What are CPD hours?
Continual Professional Development (CPD) provides each individual with a framework within which they must take responsibility for their own learning. A number of associations have CPD programs in place and the CPD has become a legal requirement in many sectors of the finance industry. Hours are awarded for each activity and these hours are set by the relevant associations or the regulatory bodies pertaining to the relevant profession.
Our Partners
AAMC Training Group is proud to be associated with the following organisations:
