The Finance Brokers Association of Australia (FBAA) has commissioned a state-of-the-art reverse mortgage educational training course for brokers.
FBAA executive director Peter White said the course was much-needed given the gap in the market created by the collapse earlier this year of the previous provider of equity release educational training, Sequal.
“AAMC Training Group, our preferred registered training organisation (RTO), was selected to supply this for the industry given their skills and expertise in providing quality high-end educational content,” he said.
“The course will be available to the whole industry and not just FBAA members.”
The seniors equity release course aims to educate financial services providers seeking to support seniors with an ER loan facility, such as a reverse mortgage.
The course consists of three modules:
Module 1 – Fundamentals
Module 2 – Equity release products explored
Module 3 – Client support process & working collaboratively
“When brokers talk to clients about a reverse mortgage they need to understand the full process. They need to know it’s an option for people, particularly seniors,” said AAMC training spokesperson Michelle Firth.
“It’s imperative that professionals such as finance brokers understand the fundamentals to successfully engage clients, understand the risks, effectually market equity release products, recognise advice limitations and work proficiently with other professionals in the client advice process.”