Joint board meeting explores strategies to strengthen broking sector
The Mortgage & Finance Association of Australia (MFAA) and the Commercial & Asset Finance Brokers Association (CAFBA) have outlined a shared vision for advancing the broking profession, using their first joint board meeting to focus on long-term collaboration and industry improvement.
The meeting followed the July 2024 signing of a Memorandum of Understanding (MOU) between the associations, which formalised their partnership and established a framework for ongoing cooperation. According to the associations’ chairs, the MOU has strengthened support for members of both organisations and set the stage for joint action on key sector issues.
Directors and executives from MFAA and CAFBA reviewed progress on joint initiatives since the partnership began. Over the past 15 months, the associations have worked together on research projects, professional development for members, advocacy, stakeholder engagement, and sharing of industry insights.
Key collaborative activities have included joint lobbying on the NSW Payroll Tax Act, participation in the NSW Parliamentary inquiry into payroll tax – where both associations’ chief executives appeared as witnesses – CAFBA’s input into the MFAA’s “The Value of Mortgage and Finance Broking 2025” report in partnership with Deloitte, and contribution to the MFAA’s white paper on the ethical use of artificial intelligence in broking. The associations have also jointly supported industry events and maintained regular executive dialogue.
MFAA chair Kerri Buurman (pictured top right) and CAFBA president Domenic Lo Surdo (pictured top left) stated that both associations remain committed to working together on shared priorities, including innovation and maintaining high professional standards within the finance broking sector.
“The meeting was about us taking a longer-term view on how we can collaborate for the benefit of our respective members, their clients and our industry,” Buurman said. “Each association excels at member support in its own right. We also have a shared commitment to continue elevating the professionalism of the Australian broking industry. Our MOU brings this to life through tangible member-focused initiatives.
“It has long been my opinion that if our associations work together on advocacy and stakeholder engagement, we have greater impact, something I believe adds tremendous value to all members of our industry.”
For Lo Surdo, the inaugural meeting marks an important milestone for the broking industry, with CAFBA and MFAA coming together to advance shared values, strengthen professional standards, and highlight the critical role that both commercial and mortgage brokers play in driving the Australian economy.
“Each of our associations has a different purpose and focus, however, there are many issues where the membership of both benefit through working together and sharing ideas,” he said.
“By doing so, we reinforce the importance of professionalism and unity across the industry, ensuring we continue to deliver meaningful outcomes for our members, businesses, households, and the broader Australian community.”
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