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James Mitchell
The MFAA has admitted that tomorrow's broker cannot survive on mortgages alone.
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According to MFAA national president Joe Sirianni, diversification and certification are crucial to the future of the mortgage broking industry.
Speaking at the MFAA National Convention in Brisbane this week, Mr Sirianni said tomorrow’s broker must also continue to work towards becoming an adviser.
"Diversification is paramount," Mr Sirianni said. "Brokers need to be offering a full suite of debt products."
While the industry has improved with the introduction of the NCCP and increased professionalism, it is still in a state of transition, Mr Sirianni said.
"Brokers need to move away from being price takers and further towards being price makers."
