The Finance Brokers Association of Australia (FBAA) has today announced the establishment of the FBAA Member Broker Support Program (BSP) as it ramps up efforts to help brokers through the current economic crisis that has resulted from the Coronavirus pandemic.

The BSP freezes any review of FBAA membership fees until after July 2021 and allows members to pay the current fees in instalments. But while these financial benefits are a part of the package, the focus is firmly on helping members maintain strong businesses and in the words of managing director Peter White AM in an email to members, “come out the other side on a ballistic rocket journey to success!”

Mr White said while the entire industry is adapting and has been through many challenges before, he’s conscious that some members are facing difficulties.

“This is a time for the industry to stand together, and the BSP is about caring for our member family both in a business and personal sense.”

The FBAA Member Broker Support Program offers the following for members:

• Membership fee payment plan – pay current fees over three instalments.
• Freeze on review of membership fee increases until after July 2021.
• Collateral assets to help you generate business – a regularly updated package of bespoke videos, blog content and social media content for the use of brokers under the slogan – “Call your broker”.
• Call Your Broker’ Blueprint – a customer support strategy blueprint for brokers to implement within their business right away. It is an industry specialist designed program currently being used.
• Weekly Q&A support – Hosted by Peter White and featuring guests, “Your Voice, An Open Q&A with Whitey” will be online every Thursday at 11:30am.
• New educational opportunities.

To launch the initiative, the FBAA has sent an email to members encouraging them all to stick together.

“This is the start. We are developing other ways to help members, and our number one goal is for brokers to remain strong so that they can not only survive but thrive now and when this is all over,” Mr White said.