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Mortgage aggregator Loan Market Group (LMG) has launched a new recognition of prior learning (RPL) process designed to help experienced bankers transition into mortgage broking.
The new pathway, developed with Registered Training Organisation Institute of Strategic Management (ISM), aims to remove some of the hurdles bankers can face when seeking recognition for skills gained during their banking careers while maintaining requirements for formal qualifications.
LMG said it had recorded a 30 per cent increase in inquiries from bankers looking to move into broking, prompting the development of the dedicated pathway.
The new process includes bespoke assessments designed to confirm skills bankers have already acquired without requiring them to source documentary evidence from their former employers.
“After gaining years of experience in banking, moving to mortgage broking shouldn’t be difficult,” LMG head of broker education and training Deanna Garrasi said.
“That’s why it was important to build a dedicated learning pathway, because experience deserves recognition.
“The RPL process can be frustrating. Someone might have 15 years of experience in analysing expenses and calculating serviceability at a bank, but it’s difficult to source documentary proof once you’ve left.
“We’ve worked with ISM to develop bespoke assessments for bankers that confirm the skills they’ve acquired without the pain of having to source documents belonging to their old institution. It fast-tracks the assessment process, considerably.”
LMG relaunches broker qualifications
Alongside the new pathway, LMG has relaunched its Certificate IV and Diploma in Finance and Mortgage Broking curricula through its centralised learning and development platform, Brokerversity.
LMG requires all new brokers to complete their diploma within their first 12 months, reflecting its focus on professional standards and ensuring advisers are equipped to deliver quality outcomes for clients.
As part of the qualification relaunch, LMG has also introduced AI-assisted marking of assessments.
“Adopting AI means qualifications won’t be slowed down by the workloads of assessors,” Garrasi said. “This addition will enhance the overall study experience.”
So far, 515 participants have earned nationally recognised credentials through LMG.
Brokerversity now has a membership base of 16,250 and has expanded beyond residential lending into commercial, asset finance, AI, marketing, and recruitment.
The platform hosts more than 150 courses, with 1.7 million minutes of learning completed.
An AI Learning Hub has also been added to Brokerversity, featuring courses, webinars, podcasts, and more than 100 ready-to-use prompts covering areas including marketing, document management, client communications, workflow automation, and business operations.
The platform also incorporates lessons from financial planners and other experts, giving brokers a broader understanding of the client journey and customer outcomes.
[Related: LMG approval times improve 18% as AI use surges]
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