The activities of the FBAA originally commenced in 1992 in response to the growing incidence of bad publicity of the profession and to become a voice for finance/mortgage brokers.
The FBAA is run by an elected Board of Directors supported by a National Executive comprising all State Presidents and a secretariat.
It was formed in the belief that the establishment of measurable standards of proper professional practice in sourcing domestic and commercial funding was in the best interests of its customers/consumers and vital to the integrity and future well being of the finance/mortgage broking industry.
Published within an industry recognised Code of Practice, these standards have been adopted by an increasing number of industry professionals who offer domestic finance, commercial finance, lease and motor vehicle finance, business and debtor finance, as finance/mortgage brokers.
Continuing as the voice of Finance Industry Professionals ensuring the highest standards of education, compliance, integrity and professionalism of its Members
“THE FBAA IS RUN BY FINANCE BROKERS FOR FINANCE BROKERS”
The FBAA has established complaints and disciplinary procedures designed to eliminate unacceptable working practices amongst its members, by providing an Internal disputes Resolution Process (designed to meet Australian Standards). The Association also exists to safeguard both its Members and their clients/consumers against restrictive practices within the industry.
In the interests of members and their clients, the FBAA monitors legislation and makes representations to Ministers and Members of Parliament both state and federal as appropriate.
It furthers the principles of good practice by seeking to work with kindred associations and interest groups, and by providing access to education and training for its members and their employees.
All but one elected executive positions are held by practicing finance brokers in their own right.