The Finance Brokers Association of Australia (FBAA) has announced its largest 12-month membership growth in recent history.
As of June 30, the association boasted 12,223 members, up from 11,044 at the end of the last financial year.
Peter White (pictured above), FBAA managing director, revealed that 94% of members are customer-facing brokers.
“We want to thank our members for the trust they have put in us to represent them,” White said. “This growth is a vote of confidence in our advocacy, which has resulted in a better industry and benefits for finance and mortgage brokers.”
White emphasised FBAA’s commitment to integrity, stating that the organisation does not “double count” ACLs and ACRs from the same entity.
“Integrity in reporting figures is essential, and our broker member figures represent individual people,” he said.
These numbers reflect only FBAA members and do not include members of their New Zealand sister organisation.
While celebrating the milestone, White remains focused on future tasks.
“Our priorities continue to be education, development, and helping brokers build their businesses,” he said.
FBAA also continues its advocacy with governments and regulators to ensure a fair regulatory environment for brokers.
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White said the FBAA was committed to combating unfair practices such as clawbacks.
“We are also continuing the fight against unfair clawbacks and other practices that disadvantage brokers and will stay in that fight until it is won,” the FBAA leader said.
White expressed gratitude to the staff, board of directors, and volunteer state representatives of the FBAA across Australia.
“They are dedicated and committed to advancing not only the cause of members but the entire industry,” he said.
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