{
  "id": "faqs/joining-and-qualifications-frequently-asked-questions",
  "title": "Joining and Qualifications: Frequently Asked Questions",
  "slug": "faqs/joining-and-qualifications-frequently-asked-questions",
  "description": "Answers to the questions prospective brokers ask before applying to Redrock — qualifications, experience, licensing, police checks, timeframes and eligibility.",
  "category": "",
  "content": "The questions prospective brokers ask most, answered plainly.\n\n## Do I need a licence to be a mortgage broker?\n\nYou need to operate under an Australian Credit Licence, but it does not have to be your own. Most Redrock brokers are authorised credit representatives of Red Rock Brokers Group Pty Ltd (ABN 40 149 728 030), which holds ACL 405961. Red Rock Mortgage Group Pty Ltd (ABN 42 111 216 598) holds ACL 384209.\n\nIf you want your own ACL, be aware that ASIC Regulatory Guide 206 generally expects a responsible manager to demonstrate at least two years of relevant problem-free experience. That is guidance about how ASIC assesses applications, not a statutory minimum. You can hold your own ACL and still aggregate through Redrock — both arrangements run under the same member broker agreement.\n\nEither way, you keep full ownership of your brand, your business and your client relationships. The trade-offs are set out in [Credit Representative or Your Own ACL](/comparisons-decisions/credit-representative-or-your-own-acl-which-licensing-path-fits/).\n\n## What qualification do I need?\n\nThe Certificate IV in Finance and Mortgage Broking (FNS40821) is the standard entry qualification. It is included in the Redrock joining package for new entrants, so you do not need to hold it before applying.\n\nCourse codes and education requirements change. Confirm the current position with your training provider and the relevant association before relying on it.\n\n## Can I become a broker with no experience?\n\nYes. There is no experience prerequisite for the [Start a Broking Career pathway](/entry-pathways/start-a-broking-career/start-a-mortgage-broking-career-from-application-to-your-first-settled-loan/). New entrants receive the Certificate IV, structured induction training, and mentoring from experienced credit personnel.\n\nMentoring is not optional, but it is worth being precise about why: it is required under MFAA and FBAA membership standards and under the licensee's supervision obligations, rather than being a standalone statutory rule.\n\n## How long does it take to get started?\n\nInduction is self-paced video training plus assessment. New-to-industry brokers have up to three months to complete it with no monthly fee, and most are operational well inside that window.\n\nOn lenders, you receive **14 automatic lender accreditations on joining**, so you can write business from the start. Further accreditations are added from the wider panel as your deal flow requires — each takes around two to three hours face-to-face, or less online.\n\n## What technology do I get, and when?\n\nFrom setup, before training begins. Redrock is a technology-led aggregator, and the broker-facing platforms are its own: the **Redrock Broker Portal**, with **Search Suite (AI Smart Search)** embedded in it via an iframe — you ask natural, human-language questions of Redrock's knowledge base rather than searching for keywords — and **ComplySuite**, the all-in-one NCCP compliance monitoring and reporting platform you use for compliance registers, file auditor interaction and quarterly self-reviews. Lodgement and CRM run on Salestrekker, a third-party platform Redrock provides access to. See [Redrock's technology platform: what brokers actually get](/technology/redrock-s-technology-platform-what-brokers-actually-get/).\n\n## What checks are involved in the application?\n\nThe standard requirements for authorisation under a credit licence: eligibility declarations, a document checklist, identification verification, reference checking, a national police check, and privacy consent.\n\n## Do I need my own PI insurance?\n\nYes. Redrock's own PI certificate covers Redrock's licensee obligations — it is not, of itself, cover for you personally. Every Redrock broker holds a policy in their own name, and Redrock's minimum required coverage levels are **$2,000,000 Limit of Liability** and **$6,000,000 maximum aggregate Limit of Liability**.\n\nThe first-year premium is included in the initial investment; you renew the policy yourself from the second year. Confirm your own policy details with your insurer. The detail is in [professional indemnity insurance for mortgage brokers](/compliance-licensing/professional-indemnity-insurance-for-mortgage-brokers-who-covers-what/).\n\n## Do I have to work from an office?\n\nNo. There is no requirement to establish a physical office. Brokers who want a branded physical presence can explore fit-out support under the [Specialist franchise model](/entry-pathways/broking-franchise/own-a-mortgage-broking-franchise-the-specialist-pathway/).\n\n## Is there an age or background restriction?\n\nThe gating requirements are the probity checks above: police check, references and declarations. If you have specific concerns about your history, raise them at enquiry stage rather than late in the process.\n\n## What does it cost?\n\nThe investment varies according to the broker's pathway, qualifications, experience and requirements, with detailed pricing provided following consultation. It incorporates a substantial turnkey package including relevant training, memberships, PI insurance, onboarding, lender accreditations and mentoring and support — [the initial investment page](/costs-income/the-initial-investment-what-joining-redrock-covers/) covers what it buys.\n\nThe structure that applies across the models:\n\n- All fees are quoted **excluding GST**\n- **Minimum two-year term** on every model\n- A **monthly fee per credit representative**, with one credit representative included\n- Up to **three months with no monthly fee** during induction\n- An additional credit representative is a **one-off charge of 50% of the initial investment** — not a monthly cost\n- **Non-mortgage commissions** are paid at **80% of commission received** on every model\n\nThe Maximiser model carries a **$1,500 per annum ex GST compliance fee**, and its minimum volume is **POA**. New Entrant, Specialist, Advantage and Prime carry no minimum volume requirement.\n\n## Which commission model would I start on?\n\nNew entrants start on the New Entrant model at 80% upfront and 80% trail, or on Specialist at 80/80 if you take the franchise pathway. The higher splits — Advantage at 90/90, Prime at 95/95 and Maximiser at 100% upfront with 95% trail — apply as volume and experience build. See the [commission models comparison](/commission-models/redrock-commission-models-compared-new-entrant-specialist-advantage-prime-and-ma/).\n\n## Who do I talk to?\n\nCall Redrock on **1300 667 694** and ask for the current information pack for your intended pathway.",
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  "metadata": {},
  "publishedAt": "2026-07-29T01:17:32.018649+00:00Z",
  "tags": [
    "mortgage broker aggregation",
    "australian credit licence",
    "certificate iv finance broking",
    "mortgage broker onboarding"
  ],
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