Building a Long-Term Career in Mortage Broking or Financial Advice

Here is a statistic worth pausing on. Fewer than 15,500 financial advisers now remain on ASIC’s Financial Advisers Register, even as demand for advice keeps rising. At the same time, mortgage brokers are writing a record 81 per cent of the nation’s new home loans. 

Across both fields, the message is the same. The people who guide Australians through big financial decisions are in short supply and high demand. 

Mortgage broking and financial advice let you build lasting client relationships, specialise as you grow, and eventually run your own business. The routes in differ, but both can carry a career a long way, provided you understand the pathway. 

Getting into mortgage broking 

Mortgage broking is the faster, lower-cost way in. 

You start with a Certificate IV in Finance and Mortgage Broking, often completed in a few months, then add a Diploma as you take on more complex lending. To practise, you work under an Australian Credit Licence or as an authorised credit representative, and most brokers join an aggregator for lender access and an industry body such as the MFAA or FBAA. 

The steps at a glance: 

• Complete a Certificate IV in Finance and Mortgage Broking 

• Progress to a Diploma for more complex lending 

• Work under a credit licence or as a credit representative 

• Join an aggregator for lender panel access 

• Become a member of an industry body such as the MFAA or FBAA 

From there, the learning happens on the job, as you get to know lenders, products and, above all, clients. If you want to start earning and building relationships sooner, rather than spending years studying first, broking is a strong place to begin. 

Getting into financial advice 

Financial advice asks for more up front. It also rewards it. 

You complete an approved bachelor’s degree, pass the financial adviser exam, and finish a professional year of supervised practice before advising retail clients on your own. From 1 January 2026, advisers must also hold an approved qualification or use the experienced provider pathway to keep practising, and every adviser appears on ASIC’s Financial Advisers Register. 

The steps at a glance: 

• Complete an approved bachelor’s degree or higher 

• Pass the financial adviser exam 

• Complete a professional year of supervised practice 

• Register on ASIC’s Financial Advisers Register 

• Maintain ongoing continuing professional development 

It is a longer road, often four years or more. But it opens the door to complex, high-value work across a client’s entire financial life. That depth is a large part of why advice is a career people stay in for decades. 

Room to grow and specialise 

This is where the two paths start to look alike. 

Whichever you choose, the shape of the career is similar. Most people begin in associate or support roles, grow into a practitioner with their own clients, then move towards senior roles, leadership or running their own business. 

Specialisation is where many find their stride. Brokers can move beyond residential lending into commercial, asset and equipment finance, or complex lending. Advisers can focus on retirement and superannuation, risk and insurance, self-managed super funds, aged care or estate planning. Specialising tends to lift both your earnings and your job security, because deep expertise is harder to replace. 

Why both careers are built to last 

The demand behind both careers is not a passing trend. 

Australians are turning to mortgage brokers more than ever, and the pool of financial advisers has shrunk faster than it can be replaced. The Financial Advice Association of Australia notes that only 464 new advisers joined the profession in 2025, well below the number retiring each year. 

When supply is tight and demand keeps rising, skilled, client-ready professionals hold real bargaining power. That is unlikely to change soon. 

Choosing between broking and advice 

So which path suits you? 

Choose broking if you enjoy helping people finance property, want a faster and lower-cost start, and like the pace of transactions. Choose advice if you want to guide clients across their whole financial life, and you are ready to invest in a degree and a professional year first. 

The two are not mutually exclusive. Many people start in one and move towards the other, and some qualify in both, using lending and advice together to serve their clients more completely. 

Frequently asked questions 

Do you need a degree to be a mortgage broker?  

No. Mortgage broking starts with a Certificate IV in Finance and Mortgage Broking, followed by a Diploma. A university degree is not required, which makes broking a faster entry point than financial advice. 

Do you need a degree to be a financial adviser?  

Yes. Financial advisers must complete an approved bachelor’s degree or higher, pass the financial adviser exam, and complete a professional year before advising retail clients independently. 

Can you be both a mortgage broker and a financial adviser?  

Yes. Some professionals hold both sets of qualifications and licences, allowing them to help clients with lending and broader financial planning, though each pathway must be completed separately. 

Ready to take the next step in broking or financial advice? 

Both fields reward people who commit to them, and both can grow with you for decades, from your first client to running your own practice. 

At Fuse Recruitment, we work across financial services and broking, helping people at every stage find roles that match their goals, from entry and associate positions through to senior and specialist roles. Whether you are starting out or ready to specialise, get in touch or browse our latest financial services roles to take the next step.