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A major industry association has confirmed it will be launching a new course next month with the aim of attracting new talent into the commercial broking space.
The Commercial & Asset Finance Brokers Association announced plans for its Certificate IV in Financial Services: Commercial and Equipment Finance last week and said the first round of training would officially begin on April 3.
The certificate will be the first dedicated curriculum for new entrants into the industry – it’s comprised of four modules which will train students in the basics of commercial and equipment finance, including the products used, the tax treatments, legislative issues and regulation, marketing, pricing and credit.
Explaining the genesis of the program, CAFBA said it was responding to a lack of specific training material for commercial finance, which was an inhibitor to attracting new entrants into the profession.
“During a recent strategic review CAFBA recognized that expanded educational offerings can attract a new generation of brokers for whom a credential is a necessary first step,” read a release from the association.
“Whilst there were bits and pieces around there was not a definitive, recognized industry curriculum. So CAFBA set about developing one,” it continued.
During this development phase, CAFBA became aware of an accreditation in the US for commercial equipment finance professionals called the Certified Lease & Finance Professional (CLFP), which is the professional industry-wide qualification for both lenders and brokers.
“The CLFP designation is the preeminent credential for equipment leasing and financing professionals throughout the world who have demonstrated competency through testing of knowledge, continuing education and a commitment to their business practices and dedication to the industry,” said CAFBA.
After CEO David Gill attended the CLFP Academy last year to undertake and “fully understand” the program, CAFBA decided to partner with the foundation behind the CLFP in order to adapt the course to Australian conditions.
“This will begin the pathway for our local professionals to become part of this international designation,” said Gill.
