BIA Disclaimer

This Disclaimer applies to the Broker Institute of Australia Program, the BIA website at www.brokerinstituteofaustralia.com.au, any BIA marketing material, social media content, free downloads, webinars, podcasts and any other communication issued by Broker Institute of Australia ("BIA").

By accessing any of the above you acknowledge that you have read and understood this Disclaimer.

BIA provides general educational and informational content only. Nothing we publish is financial product advice, credit advice, personal advice, legal advice, tax advice or accounting advice.

BIA is not a provider of financial product advice within the meaning of the Corporations Act 2001 (Cth) and is not a provider of credit assistance within the meaning of the National Consumer Credit Protection Act 2009 (Cth). BIA does not hold an Australian Financial Services Licence (AFSL) or an Australian Credit Licence (ACL) and is not authorised under any such licence.

Any information about loan products, lender policies, broking practices, commissions, regulatory requirements or career economics is general in nature and does not take into account your personal objectives, financial situation or needs. Before acting on any of it, you should obtain advice tailored to your circumstances from a person who is appropriately licensed.

BIA is not a Registered Training Organisation (RTO) under the National Vocational Education and Training Regulator Act 2011 (Cth) and is not registered with the Australian Skills Quality Authority (ASQA).

The Course is not a nationally accredited or recognised qualification under the Australian Qualifications Framework. Completion of the Course does not entitle you to any nationally recognised statement of attainment, qualification or credential.

To operate as a mortgage broker in Australia you must, at minimum:

1. complete FNS40821 Certificate IV in Finance and Mortgage Broking through a Registered Training Organisation (and, in most cases, FNS50322 Diploma of Finance and Mortgage Broking Management within a defined timeframe set by your industry body or aggregator);
2. become a member of the Mortgage and Finance Association of Australia (MFAA) or the Finance Brokers Association of Australasia (FBAA), and meet that body's continuing professional development and ethics requirements;
3. be appointed as an authorised credit representative under an Australian Credit Licence (typically issued to an aggregator), or hold your own ACL granted by ASIC;
4. comply with the Best Interests Duty under Part 3-5A of the National Consumer Credit Protection Act 2009 (Cth) and the supporting ASIC Regulatory Guide 273; and
5. hold appropriate professional indemnity insurance cover.

BIA does not provide any of the above. The Course is designed to introduce you to the industry and prepare you for that pathway. You are solely responsible for completing each step independently and at your own cost.

BIA does not guarantee that you will become a mortgage broker, obtain employment, generate any particular level of income, write any volume of loans, or achieve any commercial outcome from completing the Course. Results depend on a wide range of factors that are outside our control.

5.1 No earnings projections, promises or representations

You acknowledge and agree that we have made no implications, warranties, promises, suggestions, projections, representations or guarantees whatsoever to you about future prospects or earnings, or that you will earn any money, with respect to your purchase of the Course. We have not authorised any such projection, promise, or representation by others.

Any earnings or income statements, or earnings or income examples, are only estimates of what we think someone in particular circumstances could earn. There is no assurance that you will do as well as stated in any example. If you rely on any figures provided, you must accept the entire risk of not doing as well as the information provided.

Any prior successes or past results as to earnings or income (whether monetary or otherwise) cannot be used as an indication of your future success or results from any of the information, content, or strategies in the Course. Any claims or representations as to income or earnings are not to be considered as "average earnings".

5.2 The economy and industry conditions

The economy, both in Australia and globally, creates additional uncertainty and economic risk. An economic recession, depression, interest-rate cycle, change in lender appetite, change in regulatory regime, or change in property-market conditions might negatively affect the results produced by anyone applying the strategies discussed in the Course.

5.3 Your success or lack of it

Your success in using the information or strategies provided in the Course depends on a wide variety of factors. We have no way of knowing how well you will do, as we do not know you, your background, your work ethic, your dedication, your motivation, your desire, your business skills, your professional connections, or your personal circumstances. Therefore, we do not guarantee or imply that you will become a successful broker, that you will earn any income, or that you will achieve any particular commercial outcome.

5.4 Inherent business risk

Any business endeavour, including becoming and operating as a mortgage broker, has inherent risks, including risk of loss of capital and risk of failure. The mortgage broking industry in Australia is regulated, competitive and subject to change. We make no express or implied claims that you will make money as a result of using the Course.

5.5 Forward-looking statements

Statements we make about future industry trends, regulation, lender behaviour, commission structures, career outcomes or any other forward-looking matter are inherently uncertain. They reflect our views at the time they are made and may prove to be wrong. You can identify forward-looking statements by words such as "anticipate", "estimate", "expect", "project", "intend", "plan", "believe", "will", "might", "could", or words of similar meaning. Many factors will be important in determining your actual results, and we do not guarantee that you will achieve results similar to ours, similar to anyone else's, or any results at all. We do not undertake to update forward-looking statements as circumstances change.

5.6 Due diligence

You are advised to do your own due diligence when making any business or career decision, and should use caution and seek the advice of qualified professionals. You should check with your accountant, lawyer, financial adviser or other appropriately qualified professional before acting on any information in the Course or any associated communication.

5.7 Purchase price

Although we believe the price is fair for the value you receive, you understand and agree that the purchase price for the Course has been set by us. The price bears no relationship to objective standards or to any guarantee of return on investment.

The mortgage broking industry is subject to frequent regulatory and commercial change. Course Content reflects our understanding at the time of recording or publication and may become out of date. You should always check the current position with the relevant regulator (ASIC), industry association (MFAA or FBAA) or your aggregator before acting.

The Course and our marketing may refer to or link to third-party websites, materials, products or services (including aggregators, lenders, software providers and other educators). These references are for information only. We are not responsible for the content, accuracy, completeness, availability or terms of any third party. References do not constitute endorsement.

Where we publish testimonials, case studies or success stories, those statements are the personal experience of the individuals identified and are not a guarantee, promise or warranty of any kind that you will achieve the same or similar outcomes.

You are responsible for your own decisions. To the maximum extent permitted by law, BIA is not liable for any loss or damage of any kind suffered by you or any other person as a result of any reliance on Course Content or any other BIA communication.

Nothing in this Disclaimer excludes, restricts or modifies any consumer guarantee, right or remedy under the Australian Consumer Law that cannot be lawfully excluded, restricted or modified.

This document forms part of the binding legal agreement between you and Broker Institute of Australia. For questions, contact info@brokerinstituteofaustralia.com.au.