The good news first: brokers hold 81.6% market share and account for just 0.5% of AFCA complaints... But ASIC’s Report 840 also shows where files and complaints processes can be stronger.

So, is this a compliance crackdown? And what should brokers be doing to better protect themselves?

In this week’s Broker Bulletin, LMG Chief Risk Officer Luke Jarmaine MFAA’s Executive Policy and Legal at the MFAA, Naveen Ahluwalia, answer these questions, plus more, so you know exactly where you stand.

What you’ll takeaway: 


Why the cheapest rate isn’t always the best loan for your client


Why ASIC’s finding on commissions is a big win for brokers


How to tighten your record keeping so every file stands on its own

Like this episode?
Leave us a review and subscribe to Broker Bulletin on your favourite streaming service, so you never miss an episode.

Got a question, an idea or a guest suggestion? Email us at podcast@lmg.broker

Connect with us on Instagram @lmg.broker and on LinkedIn.

Find out more about LMG →

Show notes

00:27 Report 840 at a glance: what ASIC reviewed and why it matters
01:58 Naveen’s first read: a balanced report and a roadmap to improve
04:53 Is the best interests duty working? 81.6% market share and 0.5% of AFCA complaints
06:13 Why the cheapest loan isn’t always the best loan
08:52 What the report says about a maturing industry
11:04 No evidence of commission steering, and why that’s a big win
12:32 Complaints handling: why capturing complaints early matters
15:27 Is a compliance crackdown coming? What to start doing now

The good news first: brokers hold 81.6% market share and account for just 0.5% of AFCA complaints... But ASIC&rsquo;s Report 840 also shows where files and complaints processes can be stronger.
So, is this a compliance crackdown? And what should brokers be doing to better protect themselves?
In this week&rsquo;s Broker Bulletin, LMG Chief Risk Officer Luke Jarmaine MFAA&rsquo;s Executive Policy and Legal at the MFAA, Naveen Ahluwalia, answer these questions, plus more, so you know exactly where you stand.
What you&rsquo;ll takeaway:&nbsp;
<ul>
<li dir="ltr">
Why the cheapest rate isn&rsquo;t always the best loan for your client
</li>
<li dir="ltr">
Why ASIC&rsquo;s finding on commissions is a big win for brokers
</li>
<li dir="ltr">
How to tighten your record keeping so every file stands on its own
</li>
</ul>
Like this episode? Leave us a review and subscribe to Broker Bulletin on your favourite streaming service, so you never miss an episode.
Got a question, an idea or a guest suggestion? Email us at podcast@lmg.broker
Connect with us on Instagram @lmg.broker and on LinkedIn.
<a href="https://lmg.broker/" data-saferedirecturl="https://www.google.com/url?q=https://lmg.broker/&amp;source=gmail&amp;ust=1792986079547000&amp;usg=AOvVaw1HNzZts2klXzhkIWXhmP8F">Find out more about LMG &rarr;</a>
Show notes
00:27 Report 840 at a glance: what ASIC reviewed and why it matters 01:58 Naveen&rsquo;s first read: a balanced report and a roadmap to improve 04:53 Is the best interests duty working? 81.6% market share and 0.5% of AFCA complaints 06:13 Why the cheapest loan isn&rsquo;t always the best loan 08:52 What the report says about a maturing industry 11:04 No evidence of commission steering, and why that&rsquo;s a big win 12:32 Complaints handling: why capturing complaints early matters 15:27 Is a compliance crackdown coming? What to start doing now

Broker Bulletin is your go-to podcast for tips, stories, and insights straight from the heart of Australia’s broking industry. It’s all about keeping you ahead of the game in a market that’s always on the move.

Each week, we chat with guest brokers, industry leaders, and area experts who tackle the big challenges facing broking and share some of the real opportunities on offer. From celebrating wins to dishing out practical advice, each episode will give you the guidance you need to make the most of your broking journey.

Whether you’re on the road, at the gym, or taking some time out from a busy day, Broker Bulletin is here to keep you inspired, informed, and ready to take your business to the next level, no matter what stage of your career you are in.

So, hit subscribe, join the conversation, and connect with our growing broker community.

Broker Bulletin is your go-to podcast for tips, stories, and insights straight from the heart of Australia&rsquo;s broking industry. It&rsquo;s all about keeping you ahead of the game in a market that&rsquo;s always on the move.
Each week, we chat with guest brokers, industry leaders, and area experts who tackle the big challenges facing broking and share some of the real opportunities on offer. From celebrating wins to dishing out practical advice, each episode will give you the guidance you need to make the most of your broking journey.
Whether you&rsquo;re on the road, at the gym, or taking some time out from a busy day, Broker Bulletin is here to keep you inspired, informed, and ready to take your business to the next level, no matter what stage of your career you are in.
So, hit subscribe, join the conversation, and connect with our growing broker community.