Advantedge unveils licensing models

Advantedge's aggregators (PLAN, Choice and FAST) will support both mortgage broking businesses that seek to hold their own Australian Credit Licence (ACL) and brokers who wish to apply to become the Credit Representative (CR) of an Advantedge ACL holder. 

The two alternatives are designed to assist brokers to operate "compliant, competitive and efficient businesses".

Advantedge chief executive, Drew Hall, said it was important to offer brokers suitable licensing models and support.

"We are extremely excited to be able to deliver this market-leading licensing model - made possible through leveraging our relationship with and the expertise of NAB and MLC," he said. 

He added that the new regulations were expected to safeguard the long-term sustainability of brokers' businesses and of the industry. 

Advantedge will hold information sessions in each capital city to provide more detailed information regarding the licensing options and the implications to mortgage brokers' businesses. 

Advantedge and its aggregators will also offer practical guidance on matters requiring action before 30 June 2010 - including registration with ASIC and responsible lending requirements.

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