In a groundbreaking move, the Finance Brokers Association of Australia (FBAA) has announced the appointment of its first national commercial and asset manager, heralding a new era for commercial and asset brokers.

Renee Tocco, a highly respected and experienced finance broker who has managed her own asset brokerage, worked as a regional manager for Prospa, and for three years served on the CAFBA board, said the appointment “will send a decisive message to the market that the FBAA is the voice for all brokers.”

“Almost a third of brokers are now writing business lending products of some sort.

“Many are diversified brokers and some are resolute and focused on commercial or asset finance,” she said.

“I am proud to not only represent and advocate for them but as part of the FBAA, to help other brokers future proof their businesses by offering diversified products.”

FBAA managing director Peter White AM revealed that the association already has around 3000 current members that deal in various forms of business lending and can now claim to be the leading national association representing commercial and asset finance brokers.

“It’s time commercial and asset brokers had a choice of an association that can better meet their needs,” he said.

He said Ms Tocco is well regarded across the sector and will bring the expertise needed to expand the range of professional development initiatives, education and support offered by the FBAA.

“Renee is passionate about commercial and asset finance and will be a great mentor to many emerging brokers in this market.”

Mr White said the appointment is part of the FBAA’s objective to be always looking for new pathways and opportunities for members in an ever-changing market.

“We will be working closely with lenders and aggregators in this area of finance to help them understand the highest level of training we already have – and will further develop – and to ensure that our members have full access to all products.”

Ms Tocco said many commercial and asset brokers she has spoken to feel neglected.

“They need an association where they are embraced and supported through education and ethics, and I am excited not only be helping with this but joining an industry association with such a member-focused strategic direction.”