Financial and Insurance Brokers

A financial or insurance broker provides advisory and transactional services to clients seeking financial products or insurance cover. These brokers source, compare, and arrange policies or financial instruments from multiple providers, negotiate terms, and manage the client relationship through to policy inception or settlement. They operate within regulatory frameworks set by ASIC, AFCA, and relevant insurance bodies.

Gather client requirements through structured interviews to establish insurance cover needs or financial product suitability. Search and compare policies, premiums, and terms across multiple insurers or financial product providers using broker platforms and provider databases. Present product comparisons and recommendations to clients with clear explanation of coverage, exclusions, and fees. Negotiate with insurers or product providers on pricing, terms, and commissions on behalf of clients. Lodge insurance applications, financial product applications, or declarations to insurers and financial institutions via online portals or paper forms. Collect premium payments from clients and reconcile payments against insurer invoices and broking ledgers. Document client information, policy details, and transaction records in broking management systems and client files in compliance with ASIC record-keeping requirements. Process policy amendments, endorsements, and renewals by communicating changes to insurers and updating client documentation.

The standard entry pathway requires a diploma, advanced diploma or associate degree (ABS skill level 2). Specific qualification requirements vary by employer and state. Some employers may accept equivalent experience. Check yourcareer.gov.au for available courses and dewr.gov.au/skills-reform/free-tafe for subsidised training options.

Commission-based income means lean months, especially when clients delay decisions or the market slows. You need financial literacy and ASIC licensing (including ongoing compliance training), which takes time to obtain. Regulatory complexity is real: one mistake in advice or documentation can trigger complaints to AFCA and damage your reputation fast.

The work clusters in major business districts and affluent suburbs where clients have assets to protect. Most roles are office-based in metro areas; remote work is limited because client relationships and negotiations benefit from face-to-face contact. Regional centres have fewer opportunities unless you go independent.

Published for ANZSCO unit group 2221, the wider group this job sits in, not for this job on its own.

This is the median for full-time employees who are not managers and are paid at the adult rate, before tax and salary sacrifice. It is a guide to what the work pays, not a wage rate.

Source: ABS Survey of Employee Earnings and Hours, May 2025, customised report.

• Active Listeningcore
• Actuarial sciencecore
• Adapt to artists' creative demandscore
• Attention to Detailcore
• Confidentiality and Privacy Compliancecore
• CRM System Operationcore
• Customer Needs Assessmentcore
• Negotiationcore
• Objection Handlingcore
• Policy Interpretationcore
• Record Managementcore
• Regulatory and Legislative Awarenesscore
• Research and Analysiscore
• Risk Identificationcore
• Stakeholder Communicationcore
• Verbal Communicationcore
• Written Communicationcore
• Advise on financial matters
• Complaint Handling
• Continuous Learning and Upskilling
• Eligibility Assessment
• Microsoft Office Suite Proficiency
• Onboarding New Clients
• Report Writing
• Time Management and Prioritisation
• Upselling and Cross-Selling

• ABS OSCA 2024, occupation definition and task statements
• ABS Survey of Employee Earnings and Hours, May 2025, customised report.
• ABS, 2021 Census of Population and Housing based on usual place of residence (Custom Report). OSCA Experimental Estimates.

Role data is drawn from official Australian Government sources, and each figure names where it comes from. Where a role is not in the ABS classification, the page shows no government figures for it. Data may not reflect every local variation.

Where our numbers come from.

Last updated: 30 October 2026