A The Advanced Certificate Program in Asset and Business Finance has opened for enrollment, bringing a new level of certification to brokers who write business finance (and in the near future, bankers as well).
Developed by the Australian Certified Institute of Finance and Mortgage in conjunction with the Finance Brokers Association of Australia (FBAA), the program covers:
- Business Lending Skills
- business risk
- Financial statement analysis
- Master cash flow and forecasting
- business credit deed
- Risk classification
- Advanced commercial product in the commercial space (including equipment financing, leasing, fintech, agriculture, cash flow financing, asset financing, etc.)
- international finances
- Limited Recourse Loan Agreements
- credit management
- Mentoring and sponsorship
The content of the program has been developed in partnership with RTO AAMMC and SME finance specialists Accendo Financial and is expected to take around two to three months on average.
It is open to all eligible runners who have already successfully completed the Cert IV and the Diploma in Financial Management and Mortgage Intermediation.
Once runners have successfully completed the program by taking a multiple choice assessment, which is then reviewed by the CFMIA education committee, qualified brokers will be able to carry “symbols of excellence” such as a certified financial broker (CFB).
An annual fee will be required to retain CFB certification and certified brokers will be required to complete 30 hours of continuing education per year.
‘All about education, knowledge and information’
The new certification is intended to help give brokers “an advantage over their competitors and demonstrate to consumers and peers their dedication to high standards in the provision of financial advice and services,” according to CFMIA.
Speaking to The Adviser about the new programme, CFMIA President Michael Sheridan said that while the Advanced Certificate Program in Asset and Business Finance had been in development for nearly eight years with key players including FBAA, Kaplan, and the founders of Accendo Financial, FBAA had been the driving force behind its launch.
He said: “The FBAA have always been very supportive and I can’t thank them enough, because without them, this would have been a very difficult road. No FBAA members, and [managing director] Peter White especially, we would not be here today.
“We care about education, knowledge and information. Together, we want to make runners the best quality runners possible, and we have the tools and materials to provide them.
“We love you [brokers] to be able to go out and tell the public that you are certified, that you believe in the code of ethics that we uphold, that your knowledge is significant, and that you can help them much more than the standard residential mom-and-pop mortgage broker.”
Mr. Sheridan noted that the Advanced Certificate Program in Business and Asset Finance was “built by Australians, for Australians” and was the only such program endorsed by the ACCC in Australia.
Announcing the launch of the new certification at the FBAA national conference on Friday (November 11), Mr. White said: “This is something that will take us to the next generation of education and where education is headed. So if you want to specialize in this stream (commercial lending or asset financing), this is the course and certification program you need to get you there.”
Mr White told The Adviser that the association had been interested in formalizing business finance education, noting that the association had been running business master classes since 2016. He added that this was “the next step on that path to broaden that commercial space and asset finance knowledge. ”.
“It’s about getting the best practices in business lending and asset financing,” said the managing director of FBAA.
“This is something that has been done within Australia for Australian conditions.
“There is an enormous amount of content and it is what we think is the best of the best.”
Trent Carter, co-founder of Accendo Financial, stated that the company was “excited” when FBAA, AAMC and CFMIA reached out to include their educational content as part of the Certification initiative.
“We believe that for brokers looking to diversify and raise their proficiency to a level that allows them to partner with their business owner clients, a formal Certification is a logical next step,” Mr. Carter said.
”This program represents a path to excel as a broker that has taken the time to invest not only in itself but, more importantly, in its SME clients.
“Our approach with the Certification is consistent with our business philosophy and is to help brokers understand the technical aspects of financial statements and trade credit filings and, most importantly, how to use these skills as vital tools to have deeper conversations with customers to develop customers for life. .”
The new Advanced Certificate Program in Asset and Business Finance is the second formal qualification recently launched after the Business and Asset Finance Brokers Association (CAFBA) launched the Certified Leasing and Finance Professional (CLFP) Program – an adaptation of a similar show from the US – in Australia last week.
The advisor will delve into how brokers can successfully diversify into SME lending at the upcoming SME Broker Bootcamp this month, where Accendo Financial facilitator and partner Stuart Donaldson will break down the path to diversification, financial gains for brokers , risk/reward. payment, and the knowledge and skills necessary to serve customers of SMEs.
The bootcamp will also offer practical advice from successful brokers who have ventured down this path and established a fully diversified brokerage with a holistic range of financial products and services. It will take place in the following places:
- Thursday 17 November: Waters Edge, Portside Wharf, Brisbane
- Tuesday 22 November: Parkroyal, Parramatta, Sydney
- Thursday 24 November: Crown Promenade, Southbank, Melbourne