Liberty is doubling down on diversity

Liberty, like all major players in the mortgage finance space, is acutely aware of the ongoing gender imbalance among Australian mortgage brokers.

While there is no shortage of industry-wide initiatives to encourage more women into broking, the data is borderline alarming.

According to the MFAA’s Industry Intelligence Service report for the six months to 30 September 2024, the proportion of women brokers has stayed flat at less than 27% since 2022. Even more concerning is the fact that female representation in the broking industry is less than it was in 2019.

MPA caught up with Liberty, one of the premier non-bank lenders in the sector, to discuss the issue and what it’s doing to promote diversity and inclusion within the company and beyond.

Walking the walk

According to Anne Bastian (pictured, top left), Liberty’s chief people officer, “unconscious bias, a lack of role models, and exclusionary norms still hinder progress” on gender representation in the broking industry.

Diversity, in Liberty’s view, isn’t a box-ticking exercise; it’s a quintessential part of being a responsible, successful, public-facing business.

“As a non-bank lender, we often serve diverse populations and individuals who may be overlooked by traditional banking methods, so understanding and reflecting that diversity is important,” says Liberty chief executive officer James Boyle (pictured, top right) .

“Diversity and inclusion aren’t standalone initiatives; they’re integrated in the way we do business each day,” Boyle continues. “Our purpose is to help more people get financial, and when our team reflects the diversity of the communities we serve, we can gain deeper insights, stronger relationships and more inclusive solutions.”

Beyond pleasant words, Liberty is genuinely putting its money where its mouth is.

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Liberty has implemented targeted initiatives to support gender and generational diversity, including its Women in Leadership and Women in Sales programs.

“These are designed to build confidence, capability and career progression,” says Bastian. They are clearly working – women now command a 53% share of leadership roles at Liberty.

Strong leadership “is central to an inclusive culture”, says Bastian. “Our leadership team models inclusive behaviours, ensuring our values are reflected in daily practices. Senior leaders are not only visible champions of inclusion but also deeply engaged in structured initiatives such as leadership forums.

“These are designed to foster dialogue, share inclusive leadership strategies and align business goals with our DEI strategy.”

Liberty’s leadership takes part in Leadership Working Groups, which bring together cross-functional teams to develop initiatives, address inclusion challenges and drive cultural change.

“These efforts are reinforced by our cultural learning programs, including training focused on cultural awakening, LGBTQIA+ inclusion, gender equity and neurodiversity. This ensures inclusive leadership is authentically practised across the business,” says Bastian.

Cultural and community engagement is another key pillar of Liberty’s DEI strategy. This includes the company’s Innovate Reconciliation Action Plan.

“We’re proud to partner with First Nations organisations such as Kinaway, Murrup, Supply Nation and the Koorie Academy to create meaningful pathways in procurement, employment and education,” says Bastian.

Liberty has also introduced a tiered cultural learning program for all staff, co-designed with First Nations consultants, and a Reconciliation Committee to support ongoing engagement.

Australian political journalist Annabel Crabb visits the Liberty team

“We also provide cultural awareness training and host internal events that celebrate our rich mix of cultures and beliefs,” Bastian says. “We encourage team members to share their faith and cultural heritage, and these presentations are added to a growing library of lived experiences.”

Liberty stresses how important it is that, at every touchpoint, people experience an inclusive and culturally aware approach from the team. To support this, the group has introduced tailored LinkedIn Learning pathways focused on inclusive communication, cultural competence and supporting vulnerable customers.

“These modules are part of our broader professional development offering and reinforced by compulsory training on cultural protocols and inclusive practices,” Bastian says.

Doubling down

In a time when some of the world’s largest corporations are throwing their social justice initiatives out the window for fear of political and social backlash, Liberty is unwavering in its dedication to DEI.

“In 2025, our DEI efforts supported a strong year of growth,” says Boyle. “Our internal survey showed that 97% of team members are proud to work at Liberty, and 98% believe we’re genuinely committed to being a diverse and inclusive company. Our average staff tenure of nearly six years reflects this sense of belonging and purpose.”

This commitment to DEI has brought with it clear business benefits for Liberty, including increased employee engagement, strong results on mental health surveys and better team accountability. “Positive brand sentiment and high NPS scores from both customers and brokers further demonstrate the impact of our inclusive approach,” Boyle says.

The recruitment and career-progression stages are often where unconscious biases and exclusionary norms come into play. So for a company to genuinely champion diversity and inclusion, getting these practices right is critical.

Recruitment data reinforces the challenges at hand.

Returning to the MFAA’s Industry Intelligence Service report for the six months to 30 September 2024, 535 women were recruited during the period, constituting 32% of all new recruits. This proportion remained unchanged compared to the previous six months, but recruitment of women decreased by 6.46% year-on-year, while male recruitment declined by only 1.05%.

“To address these challenges, we’ve introduced culturally responsive recruitment practices, inclusive leadership development and partnerships with affinity organisations like Work180 to create more equitable pathways,” says Bastian.

“We also monitor diversity metrics throughout the staff journey, with a focus on career progression in traditionally underrepresented areas like credit, sales and leadership.”

Shifting perceptions

“We’re focused on accelerating gender equity in the broking industry and strengthening inclusive leadership across the lending landscape,” Bastian says. “Beyond fostering inclusion at Liberty, our goal is to influence broader change by shifting perceptions, elevating women’s voices in lending, and addressing structural barriers such as income risk and access to networks.”

Furthermore, Liberty is in the process of launching the ‘AdvisHer Circle’, which will offer tailored education, peer networking, mentorship, and storytelling opportunities that directly address the challenges women face in broking.

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The AdvisHer Circle is “a new initiative designed to support, retain and grow the representation of women advisers and brokers in our network”, Bastian says.

Liberty is also committed to opening recruitment pathways for women entering the industry. “Through these efforts, we hope to lead by example and show what’s possible when diversity and inclusion is embedded in strategy, culture and action,” she says.

While struggles with gender representation in mortgage finance persist, it’s encouraging to see such a prominent member of the industry doubling down on diversity.

Liberty, of course, is not going it alone. Whether it’s the She Means Business initiative launched by COSBOA (the Council of Small Business Organisations Australia) and backed by the MFAA, or MPA’s very own Elite Women awards, which cast a light on inspirational female mortgage experts, the industry is not taking the lack of representation lying down.

In an industry that is meant to represent the incredible diversity of Australia, such initiatives are more important than ever.