Broker Licensing

Broker Licensing

Spark Financial Hub Sub Aggregation
Offer for Finance Brokers

In collaboration with Outsource Financial, one Australia's leading Boutique aggregation group, Credit Licence 384324, Spark Financial Hub is delighted to invite accredited Mortgage Brokers to our Community of finance professionals and those seeking to become accredited Mortgage Brokers to our tailored Mentoring program and commence the journey of becoming a successful Mortgage Broker.
Together with Brendon Kurtz, State Manager and FBAA State President VIC/SA/TAS, Outsource Financial provides access to technology, access to panel of experienced Mentors & compliance, whilst Spark Financial Hub provides access to Community and synergies to help you grow.

SPARK FINANCIAL HUB IS ABOUT PROVIDING BROKERS WITH A QUALITY AGGREGATION SERVICE ALONG WITH ACCESS TO A LARGE COMMUNITY OF FINANCE PROFESSIONALS & SOLUTIONS TO GROW YOUR BUSINESS

Situated in the high-profile suburb of Brighton Victoria, Spark Financial Hub offers its Mortgage Consultants fantastic facilities to work in a co-working office environment, providing desks, internet, printing and client interview space. Access is available to all of our Mortgage Consultants, where they can come and go as they please.

In addition to this support, our Brokers have the opportunity to work with our aligned Financial Planning Dealer Group, Spark Advisors, led by Arthur Kallos, Founder and CEO of Spark Financial Group, whose head office is located across the road from our Hub.

To compliment all parties, Spark Financial Hub is a referral partner of Metropole Group, with its highly qualified group of Property Advisors led by Kate Forbes, our offer is perfect for Mortgage professionals seeking further solutions in Financial Planning and Property.

HOW TO BECOME A SPARK FINANCIAL HUB MORTGAGE BROKER

If you are looking for an aggregator and the support framework to take your mortgage business to another level, then please talk to us. We have attractive terms and simple process to join Outsource Financial. Just return everything to us and we will then deal with the Industry Association, ASIC and the Banks on your behalf to get you up and running.

Our Offer for established, accredited Mortgage Consultants:

1.  90/90 * upfront and trail;
2.  Referrals from Financial Planners (Residential, Commercial, SMSF and Development Finance)
      a. 40% paid to the referrer
      b. 50/50 retained by the broker
3.  CRM - SalesTrekker $140+GST pm - https://salestrekker.com/
4. Access to Community, facilities, training & administration services

* CBA and Bankwest settlements have low commission split. Outsource Financial pays 2.5% less for CBA and Bankwest settlements which will be applied to the splits above.

How to apply

1. A release letter from your old aggregator (if applicable). We have a template release letter request you might like to use.

2. Provide us with a copy of your Certificate IV or Diploma Finance Broking. If you do not have a Certificate IV in Finance Broking speak with Brendon Kurtz who will mentor you through obtaining a Certificate IV as quickly as possible.

3. Provide us with a copy of your FBAA or MFAA anti-money laundering (AML) and anti-terrorism financing (ATF) training certificate. If you do not have a AML ATF training certificate, Brendon Kurtz can be contacted to assist you.

4. Professional indemnity insurance – approximate cost is $800 pa & there is a monthly payment plan option. We recommend Insurance House - https://mfaa.insurancehouseplus.com.au/

5. Provide your Professional Industry Association (MFAA / FBAA) membership certificate;

6. Provide the details for 3 business/professional references (i.e. name, business name and phone number).

7. Arrange your External Dispute Resolution Scheme Membership – Australian Financial Complaints Authority (AFCA). The cost is $55 for each Credit Representative under Outsource Financials’ ACL (Australian Credit Licence).

8. National Police check (less than 2 months old). We recommend the CV Check. They cost the same as a Victorian Police check but it can produce the report in 3 days.

9. A resume for yourself with at least 10 years employment history. A one page document is OK.

10. 100 points of ID. This should include a good quality scan of your driver’s licence. ID does not need to be certified. The simplest combination is driver’s licence and passport.

11. If applicable, a copy of your Visa or Visa entitlement Verification Online (VEVO) statement. See the VEVO website for more information.

12. Your ABN – once provided we will complete the commission agreement and the various ASIC documents for you to sign off.

13. If you are an existing broker or been a broker within the last 7 years (i.e. anytime since 2010), please indicate on the Accreditation List provided, which banks you currently are accredited with (i.e. in the Transfer column) and which banks you are not accredited with but would like an accreditation (i.e. in the New column). The Outsource Financial Member Services Team will then project manage all the transfer and new accreditation paperwork for you.



Our Offer for unaccredited Mortgage Consultants looking to start
and form part of our mentoring program:

1.  80/80* upfront and trail whist under dedicated mentoring
2. Referrals from Financial Planners (Residential, Commercial, SMSF and Development Finance)
    a. 40% paid to the referrer
    b. 40/40 retained by the broker
3.  CRM - SalesTrekker $140+GST pm - https://salestrekker.com/
4. Access to Community, facilities, training & administration services

* CBA and Bankwest settlements have low commission split. Outsource Financial pays 2.5% less for CBA and Bankwest settlements which will be applied to the splits above.

How to apply

1.   Provide us with a copy of your Certificate IV or Diploma in Finance Broking

•   If you don’t have a Certificate IV Finance and Mortgage Broking, we recommend an online correspondence course that will take 4 to 8 weeks to complete. AAMC offer an online correspondence course (FNS40815) for $537 (inclusive of a 10% discount if you add the following AAMC coupon code: LOYALTY2018). We can provide you with resources to complete this course quickly. This is the minimum requirement of the Finance Brokers Association of Australia (FBAA). Let me know when you have purchased the course and we will send you the resources we have put together. Also please let us know you log on details and we will be able to check on your progress and complete some of the skill assessment sign offs for you.

2.   Provide us with a copy of your FBAA or MFAA anti-money laundering (AML) and anti-terrorism financing (ATF) training certificate.

•   If you don’t have an AML/ATF certificate I recommend the FBAA - Anti-Money Laundering and Counter-Terrorism Financing Course (AML/ATF). We recommend the AAMC/FBAA course which costs $99 if you add in the FBAA discount code: FBAAMEMBER

3.   Professional indemnity insurance – approximate cost is $800 pa or there is a monthly payment plan option. We recommend Insurance House - https://mfaa.insurancehouseplus.com.au/

•   Please schedule a time with us for an online meeting if you want assistance completing this application.

4.   You need to become a member of one of the professional industry associations. We recommend the FBAA but it is satisfactorybeing a member of the MFAA. To finalise your FBAA membership please provide the following:

•   Complete the FBAA Payment Form provided;
•   Complete the Declaration Letter provided.
•   Provide the details for 3 business/professional references (i.e. name, business name and phone number).

5.   External Dispute Resolution Scheme Membership – Australian Financial Complaints Authority (AFCA). The cost is $55 for each Credit Representative under Outsource Financials’ ACL (Australian Credit Licence).

•   There is an online application form for AFCAmembership:
•   https://forms.afca.org.au/dapweb/acrmembership/step01.aspx

•   The Licencee Details Number you need to enter is 44623. Follow the online process. Note: If you are apply under a company name, the company will be the applicant but you will also have to apply for another membership for each individual under your Company who are going to be brokers or who are existing brokers. The cost will be $55 for each person + $55 for the company. Please schedule a time with me for an online meeting if you want assistance completing this application. Or

•   Complete the AFCA Authority to Act and Payment Form provided and we will arrange your membership;

6.   Provide a National Police check (less than 2 months old). We recommend the CV Check. They cost the same as a Victorian Police check but can produce the report in 3 days. Please schedule a time with us for an online meeting if you want assistance completing this application.

7.   A resume for yourself with at least 10 years employment history. A one page document is satisfactory.

8.   100 points of ID. The simplest combination is driver’s licence and passport.

9.   A copy of your Visa or Visa entitlement Verification Online (VEVO) statement. See the VEVO website for more information.

10.  Set up your training company or personal ABN. Once you provide us with your ABN, we will complete the commission agreement and the various ASIC documents for you to sign off.

11.  We will book in for your induction training and regular training thereafter. This will be facilitated via our Hub in Brighton VIC, or delivered via video conference for interstate Mortgage Consulatants.


Let’s start something together!

Complete the form below and a member of our team will be in touch.