Diploma of Finance and Mortgage Broking Management: a guide in elevating your career

Are you wondering how to get a Diploma of Finance and Mortgage Broking Management online?

The Diploma of Finance and Mortgage Broking Management (FNS50322) is a key stepping stone for those looking to elevate their career in the world of Australian finance and mortgage broking.

This diploma is for professionals who have made their mark in mortgage broking and are now ready to tackle more complex challenges and strategies. It's about enriching your skillset, broadening your knowledge, and stepping into a leadership role within the industry.

Whether you're aiming to manage a brokerage, lead a team, or provide consultancy services at an advanced level, the Diploma of Finance and Mortgage Broking Management offers the comprehensive training and knowledge needed to achieve these goals.

Here’s everything you need to know about getting a Diploma of Finance and Mortgage Broking Management in Australia.

What to expect in a Diploma of Finance and Mortgage Broking Management

Course objectives

The course is tailored to prepare students for senior roles in the finance and mortgage broking industry. These include positions such as mortgage broking manager, finance broker, and other leadership roles that require a comprehensive understanding of finance, mortgage products, and effective team management.

Each institution's course structure and specific units of competency are designed to support these objectives, ensuring graduates are well-prepared to meet the demands of the industry. You will:

• understand finance and mortgage broking dynamics, regulations, and market trends for compliant and effective operations
• develop proficiency in client assessment, loan application preparation, and structuring complex loans for diverse client needs
• learn brokerage or team management, overseeing workplace relationships, operational plans, and ensuring service excellence
• apply ethical frameworks and regulations, ensuring adherence to industry codes and financial service standards
• develop and sustain professional networks within the financial services sector for enhanced collaboration and opportunities

Eligibility requirements

Anyone interested in pursuing a career in finance and mortgage broking can enrol as there are no formal entry requirements to get a Diploma of Finance and Mortgage Broking Management in Australia. This opens up the qualification to a wide range of candidates, including those who may not have prior formal qualifications in the field.

However, there are several good-to-have qualifications and skills that can significantly benefit students entering this field of study, including:

• Certificate IV in Finance and Mortgage Broking or equivalent
• Completed Year 12 of high school or equivalent
• Competency with numbers, banking, and financial services
• Experience in the finance sector
• Strong communication and interpersonal skills
• Analytical and problem-solving abilities

Do note that if you intend to practice as a finance or mortgage broker after completing the diploma, you will then need to meet the registration and licensing requirements set by the Australian Securities and Investments Commission (ASIC).

These requirements include becoming a representative of a credit licence holder or obtaining your own credit licence if you wish to operate independently​​​​.

The education provided by the diploma aims to prepare you for these regulatory requirements by covering relevant content, including understanding the legislative and regulatory framework of the finance and mortgage broking industry, ethical considerations, and the application process for loans and credit.

Choosing the right education provider

Choosing the right education provider for the Diploma of Finance and Mortgage Broking Management involves considering several key factors to ensure the institution aligns with your career goals, learning style, and needs. Among the most important to consider are the following:

Accreditation

Ensure the institution is accredited by the relevant regulatory bodies, such as the Australian Skills Quality Authority (ASQA). Accreditation guarantees that the course meets national quality standards.

Industry reputation

Look for providers known for producing competent, industry-ready graduates. You can gather insights from online forums, industry publications, and networking with professionals in the field.

Course content and structure

Review the course curriculum in detail. Make sure it covers all necessary areas, including advanced broking skills, compliance, risk management, and leadership. The course should also align with the latest industry standards and regulatory requirements.

Delivery method

Consider your personal and professional commitments. Many institutions offer flexible learning options, including online classes, part-time study, and intensive courses. Choose a provider that offers a delivery method that suits your schedule and learning style.

Assessments

The assessment process for the Diploma of Finance and Mortgage Broking Management includes a variety of formats to ensure comprehensive understanding and application of course material. Some examples:

• case studies
• multiple-choice questions
• short-answer questions
• roleplays, which may involve video self-recording and uploading

This approach ensures a comprehensive evaluation of both knowledge and practical competencies crucial for success in the industry.

You might be wondering: How long will it take to complete the course?

Each institution structures its course duration based on these factors:

• the delivery method (online, in-person, or blended learning)
• the student's ability to commit time to study
• support services available to facilitate learning

Typically, the course will take a year at the minimum to complete.

How to enrol for a Diploma of Finance and Mortgage Broking Management

Exploring how to get a Diploma of Finance and Mortgage Broking Management online involves researching accredited educational institutions offering this qualification.

The cost can vary, with some institutions listing the price around $1,750 for upfront payment or offering payment plans. You can enrol in this diploma through:

• registered training organisations (RTOs)
• vocational education providers
• online education platforms like Monarch Institute, Kaplan Professional
• TAFE institutes

Upgrading from Certificate IV to the Diploma of Finance and Mortgage Broking Management can also fast-track career advancement. This progression is streamlined for Certificate IV holders through credit transfer options, facilitating a quicker transition to higher qualifications and broadening career opportunities in the finance sector.

Financial assistance for the course may also be available for select educational institutions. Some may offer payment plans, allowing students to pay tuition over time.

Here are some institutions that offer the Diploma of Finance and Mortgage Broking Management:

International Institute of Technology

• course fee: the diploma costs $550. An upgrade from Certificate IV in Finance and Mortgage Broking is available at $375, including a free AML course for a limited time
• enrolment process: complete an online contact form or call 1300 88 3346

The International Institute of Technology offers the Diploma as a fully online program, allowing students to learn all aspects of finance and mortgage broking including credit lending, suitable loans for residential and commercial lending, car, and business loans. The course is designed to make students fully compliant in the industry.

An option is available where the seven units of competency are credit transferred from IIT’s Certificate IV in Finance and Mortgage Broking qualification to the Diploma of Finance and Mortgage Broking Management.

Kaplan Professional

• course fee: the diploma costs $680, with an upgrade option available for $340 for those who have completed the relevant Certificate IV
• enrolment process: made directly on Kaplan's website, with various options available depending on previous studies and qualifications​​

Kaplan Professional focuses on how to assess borrower eligibility and build client relationships effectively. It emphasises language, literacy, and numeracy skills due to the comprehensive learner workbooks, written assessments, and independent research activities involved. The course is delivered online, allowing for immediate study upon enrolment.

Each session provides an opportunity to engage with a subject matter expert in real-time through live tutor sessions. It has a maximum course duration of 54 weeks.

Southern Academy of Business and Technology

• course fee: contact the SABT direct
• enrolment process: prospective students must meet specific entry requirements, including an IELTS score of 5.5 or equivalent English language proficiency, and undergo a course entry interview​​. If everything is met, fill out this enrolment form

SABT's offering is tailored for both domestic and international students, including a comprehensive coverage of management roles in finance and mortgage broking.

The course is designed to be delivered over 78 weeks, including classroom and structured self-study. This includes training and assessment spread over terms, along with scheduled holidays, providing a structured yet comprehensive learning experience.

Monarch Institute

• course fee: $1,750 up front or $80.77 per week
• enrolment process: complete an online form on the Monarch Institute website. A course consultant will be in touch shortly

Monarch Institute provides a structured program divided into eight modules covering various aspects of finance and mortgage broking management. The course is designed for those seeking a thorough understanding of the industry, offering tailored learning developed by industry experts.

The program spans up to two years, offering a blend of flexibility and comprehensive support to suit different learning paces and styles.

AAMC Training Group

• course fee: $1,097 for the diploma
• enrolment process: head to AAMC’s Training Portal to choose whether to enrol as an individual or company

AAMC Training Group is targeting both independent brokers and those operating through aggregators as the program covers loan recommendation, borrower eligibility assessment, and complex financing solutions. There are no entry requirements for this qualification.

The course is available in two ways:

• online (remote self-paced)
• virtual (a blend of virtual classroom + remote self-paced learning)

Student support is available online, via email, and by phone. Victoria state funding may also be available.

Enrolment is valid for twelve months, with flexibility in course completion depending on the participant's pace.

Institute of Strategic Management

• course fee: $1,295 for the diploma
• enrolment process: can be done directly through the ISM website, with payment options available upon enrolment

The Institute of Strategic Management covers key industry roles, legislative frameworks, loan products promotion, and aims to enhance customer service and relationship management skills.

The program is designed with flexibility in mind, offering varied durations for completion. The full diploma can be pursued over 12 months on a part-time basis or completed in 6 months if studied full-time. For those seeking to upgrade their diploma, options include a 6-month part-time or a more intensive 3-month full-time study.

National Finance Institute

• course fee: the full diploma costs $1,049 for online learning, with options for distance learning at $1,249 and a 5-day live Zoom virtual workshop at $2,140
• enrolment process: fill out the online form on the website

A Diploma of Finance and Mortgage Broking Management from the National Finance Institute covers 15 units, including core and elective subjects, emphasizing professional relationships, loan application processes, compliance, and risk management.

The program can be completed within 12 months, tailored to trainee preferences for pace.

It is also updated following Financial Service Training Package changes and offers three options for study: Upgrade Diploma, Upgrade Diploma + Gap Module, and Full Diploma.

Career benefits and pathways

The Diploma of Finance and Mortgage Broking Management opens opportunities for advancing into senior positions within the finance and mortgage broking industry, managing a team or brokerage, and providing complex loan advice, specifically:

• finance broking practice manager
• mortgage administration assistant
• lending officer
• loan underwriter
• client service officer

Professional associations

Completing the Diploma of Finance and Mortgage Broking Management equips you with valuable skills for a career in finance and mortgage broking. This makes you eligible for accreditation with key industry bodies like the Mortgage and Finance Association of Australia (MFAA) and the Finance Brokers Association of Australia (FBAA).

These memberships can enhance your professional credibility, provide networking opportunities, and offer access to industry-specific resources and continuing education programs.

Read more: How to apply for FBAA membership?

Further studies

After completing the Diploma of Finance and Mortgage Broking Management in Australia, graduates have several pathways for further education.

They can pursue related university courses, potentially using the diploma for entry and possibly receiving course credits. This opens doors to bachelor's degrees in business or finance.

Should you get a Diploma of Finance and Mortgage Broking Management?

Ultimately, deciding to pursue a Diploma of Finance and Mortgage Broking Management in Australia depends on your career goals in the finance and mortgage broking industry.

This qualification can enhance your knowledge, skills, and employability, offering a pathway to roles like mortgage broker or finance manager.

The Diploma of Finance and Mortgage Broking Management is suitable for individuals seeking to deepen their understanding of finance broking, comply with regulatory requirements, and improve their professional standing. Consider your career aspirations, the time and financial investment required, and the potential for career advancement the diploma offers before making a decision.

Do you think that pursuing a Diploma of Finance and Broking Management is the right move for you? Let us know in the comments