Self-regulation and the future of commercial finance broking

TThe Commercial and Asset Finance Brokers Association of Australia (CAFBA) is the leading industry body committed to driving excellence, integrity, and innovation throughout Australia’s commercial and asset finance broking sector.

CAFBA exists to foster the highest standards of knowledge, ethics, and professionalism in commercial broking, so that our industry continues to thrive under a self-regulating framework.

Our aim is to assist and equip our members with the necessary skills, expertise, and education to deliver the very best finance outcomes for their clients, with minimum red tape.

Our members play a vital role in the Australian economy. Commercial and equipment finance receivables are currently $380 billion annually, with around two-thirds of commercial equipment finance being sourced through brokers.

Commercial finance is evolving

Commercial finance in Australia is experiencing a period of rapid change, with a range of non-bank lenders entering the market and a surge of brokers from other sectors diversifying into commercial broking.

As the only industry association focused exclusively on commercial and asset finance, CAFBA is at the forefront of this evolution and the importance of the work we do has never been greater. With all of CAFBA’s directors being active, customer-facing brokers, we know firsthand the challenges and opportunities currently facing the industry.

Through our landmark pursuit of a Professional Standards Scheme and industry-leading education platforms, CAFBA is ensuring that commercial brokers continue to operate under a self-regulating framework, while upholding a level of excellence in the service they provide.

CAFBA is developing commercial broking’s long-term self-regulating framework

CAFBA has long held the view that a self-regulating framework founded upon education ensures the best outcomes for commercial borrowers. Behind all the work we do to increase professional standards is the clear, ongoing objective of demonstrating that commercial finance in Australia is so thoroughly self-regulated that it completely negates any argument for government to step in.

At the same time, CAFBA believes that as our industry evolves, the key to maintaining our self-regulated status is through ongoing education and professionalisation.

CAFBA delivers industry-leading education platforms

Effective, standardised education is a requirement for CAFBA membership. CAFBA delivers this through our industry-leading digital education platform PACE, or the Professional Attainment Centre of Education, and the soon-to-be-launched PACE Premium.

PACE provides a structured educational pathway for all commercial brokers, whether they are new entrants, diversifying resi brokers, or seasoned professionals.

PACE offers a range of accredited courses and workshops, covering key aspects of commercial and asset finance, including lending practices, risk management, compliance, and customer service. CAFBA members get access to over 40 small courses and learning bytes at no extra cost. By utilising PACE, finance brokers can enhance their professional capabilities, stay abreast of industry trends, and maintain compliance with regulatory requirements.

CAFBA is the driving force behind the professionalisation of commercial broking

CAFBA’s landmark pursuit of certification under the Professional Standards Scheme (PSS) means that CAFBA commercial brokers will be recognised as professionals. A PSS binds associations to monitor, enforce, and improve the professional standards of their members and to protect consumers of professional services, effectively meaning that CAFBA will regulate its own members through improved professional standards and practices – from effective risk management strategies and continuing professional development programs to codes of ethics and conduct and integrity systems By promoting this framework of self-regulation, CAFBA aims to build a more reputable and trustworthy industry, where brokers operate with transparency, fairness, and integrity.

By holding themselves accountable to their clients, colleagues, and the broader community, members can foster trust, enhance their reputation, and contribute to the long-term sustainability and success of the commercial and asset finance sector, demonstrating to all that there is no need for the heavy hand of government intervention.

CAFBA advocates on your behalf

CAFBA uses its influential policy voice to support commercial and asset finance brokers, working tirelessly to represent their interests at both state and federal levels. Through advocacy, CAFBA aims to foster a regulatory environment that is conducive to growth, innovation, and fair competition throughout the industry.

CAFBA’s advocacy work extends to engaging with policymakers, regulators, and other stakeholders to shape legislation, regulations, and industry standards. By actively participating in consultations and providing expert insights, CAFBA ensures that the voice of commercial and asset finance brokers is heard and considered.

A measure of our success in our advocacy work is that government doesn’t come calling! Our outcomes are the problems you don’t have, the regulations that are never applied to our industry but which might have been.

Creating value for our members

Of equal importance to CAFBA is its focus on delivering exceptional benefits, opportunities, and support to its members.

Upon joining CAFBA, members gain access to a vibrant community, valuable resources, and exclusive opportunities that enable them to amplify their voice, elevate their skills, and expand their network.

From networking events and conferences to educational programs and professional development opportunities, CAFBA is committed to providing members with the tools, knowledge, and connections they need to thrive. By investing in member value, CAFBA strengthens its community, fosters collaboration, and empowers members to achieve their professional goals.

Position yourself for the future

As a CAFBA member, you will be prepared for the future of commercial broking. Along with exclusive access to industry-leading education platforms, industry insights and data, and networking opportunities with lenders, CAFBA membership will also position you to be at the forefront of commercial broking’s move toward professionalisation, propelling your business past those who will be left behind.