Over 3,300 mortgage & insurance brokers can’t voluntarily become AFA’s
It was announced in last Friday's Select Committee report that mortgage brokers and insurance advisers who only advise on category 2 products will no longer have the option to be authorised.
ETITO manager of strategy and corporate relations Michael Frampton says over 3,300 insurance or mortgage advisers have enrolled in training for the National Certificate in Financial Services [Financial Advice] [Level 5] for the purposes of authorisation.
He says ETITO is seeking clarification from the Securities Commission on the matter.
"We do understand the concern and confusion expressed to us by those mortgage and insurance advisers who have made the commitment to the qualification based upon their intention to become authorised and who are now uncertain about how, or whether, to proceed," he says.
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