New data has suggested that there are now a record 21,225 customer-facing brokers in Australia.
New research undertaken by CoreData for the Finance Brokers Association of Australasia (FBAA) has revealed that there are more brokers in Australia than ever before.
According to the Broker Density in Australia white paper, the core findings of which were unveiled at the FBAA national conference in the Gold Coast on Friday (1 November), there are estimated to be 21,225 customer-facing brokers in Australia.
By reviewing a range of sources – including the ASIC database of credit representatives and licensees, data from broking associations, and CoreData’s open-source intelligence on the Australian broking market – CoreData found that there are now more brokers in market than ever before.
This brings Australia’s national consumer-to-broker ratio (CBR) to 10.7 brokers per 10,000 adults (when comparing the broker population with the adult population in Australia).