Aggregator overhauls Recognition of Prior Learning process in partnership with training organisation
LMG has introduced what it describes as an industry-first Recognition of Prior Learning (RPL) pathway designed to help bank employees transition into mortgage broking, developed in partnership with registered training organisation, the Institute of Strategic Management (ISM).
The new process removes several longstanding hurdles in the banker-to-broker transition by replacing the need to source documentary evidence from former employers with bespoke assessments that verify skills already acquired.
LMG says the change streamlines the qualification process without lowering its professional standards.
"After gaining years of experience in banking, moving to mortgage broking shouldn't be difficult," said Deanna Garrasi (pictured top), head of broker education and training at LMG. "That's why it was important to build a dedicated learning pathway, because experience deserves recognition.
"The RPL process can be frustrating. Someone might have 15 years of experience in analysing expenses and calculating serviceability at a bank, but it's difficult to source documentary proof once you've left. We've worked with ISM to develop bespoke assessments for bankers that confirm the skills they've acquired without the pain of having to source documents belonging to their old institution. It fast-tracks the assessment process, considerably."
The aggregator reported a 30% rise in enquiries from bankers exploring the move to broking.
Alongside the new RPL pathway, LMG has relaunched its Certificate IV and Diploma in Finance and Mortgage Broking curricula, delivered through its centralised learning platform, Brokerversity. To date, 515 participants have obtained nationally recognised credentials through the platform. LMG requires all new brokers to complete their Diploma within 12 months of joining.
As part of the relaunch, LMG has introduced AI-assisted marking for assessments. "Adopting AI means qualifications won't be slowed down by the workloads of assessors," said Ms Garrasi. "This addition will enhance the overall study experience."
Brokerversity now has 16,250 members and hosts more than 150 courses across residential lending, commercial finance, asset finance, AI, marketing, and recruitment, with 1.7 million minutes of learning completed to date. The platform has also added an AI Learning Hub, which provides brokers with courses, webinars, podcasts, and a library of more than 100 pre-built prompts covering marketing, document management, client communications, workflow automation, and business operations.
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