Login
ISCOVER
New figures show the number of complaints related to brokers has decreased over the past 12 months.
The 2014-15 data collected by the Credit and Investments Ombudsmen (CIO) revealed just 6.1 per cent of all complaints were linked to brokers, down from 6.9 per cent in the corresponding year.
To continue reading the rest of this article, please log in.
Looking for more benefits? Become a Premium Member.
Create free account to get unlimited news articles and more!
Looking for more benefits? Become a Premium Member.
FBAA chief executive officer Peter White credited the result to ongoing education and upskilling programs, saying both have had a strong impact on brokers over the period.
“The overall figures showed there were nearly 22,000 enquiries received by the CIO with a mere 264 complaints registered against brokers,” Mr White said.
“That is a low percentage but it still does not mean we can’t improve, particularly in our servicing of the customer.”
Mr White said the FBAA’s online workshops and face-to-face education has also played an integral role in the results.
“The better we educate ourselves, the better we can explain to the customer what we are all about and why we have recommended a particular loan which most suits their needs,” he said.
Mr White also pointed to the introduction of the National Credit Act as well as programs designed to improve responsible lending practices between brokers and their customers as other reasons for the result.
[Related: FBAA welcomes greater transparency]
