Brokerage in Australia: How It Works and What’s Changing in 2026

Brokerage refers to the services provided by intermediaries, known as brokers, who connect buyers and sellers or help clients access financial products. Brokers operate across a range of sectors, including:

• Stockbroking: Facilitating the buying and selling of shares, exchange-traded funds (ETFs), and other securities on the Australian Securities Exchange (ASX) and international markets.
• Mortgage broking: Assisting borrowers in finding and applying for home loans, often comparing a wide range of lenders and products. More information can be found at mortgage brokers.
• Insurance broking: Helping clients source insurance policies tailored to their needs. Learn more at insurance brokers.
• Business and commercial broking: Advising business owners on finance, mergers, acquisitions, or the sale of businesses.

Brokers typically earn a commission or fee for their services, which may be paid by the client or by the financial institution providing the product. In Australia, brokers must be licensed and comply with regulations set by the Australian Securities and Investments Commission (ASIC). Mortgage brokers, in particular, must also operate under the Australian Credit Licence framework.

The brokerage industry is not standing still. In 2026, several important changes are shaping how brokers operate and how consumers interact with them:

Expansion of Open Finance

The Consumer Data Right (CDR) regime, which began with banking and energy, is expanding to include superannuation and insurance. With your consent, brokers can now access a broader range of your financial data. This allows for more comprehensive comparisons and more personalised recommendations, making it easier to find products that suit your needs.

Enhanced Disclosure Requirements

Regulations now require brokers—especially in mortgage and insurance broking—to provide clearer information about how they are paid and any relationships they have with product providers. Before you proceed with a broker, you’ll receive a standardised summary outlining their fees, commissions, and any potential conflicts of interest. This is designed to help you make more informed choices.

Growth of Digital Brokerage Platforms

Digital-first brokerages are becoming more popular, offering streamlined services for share trading, home loans, and insurance. These platforms use technology to simplify applications, reduce paperwork, and provide real-time updates. Many Australians now expect digital document signing, instant comparisons, and online support as standard features when working with a broker.

Updates to Responsible Lending

Responsible lending guidelines continue to evolve. Mortgage brokers, for example, are now required to demonstrate even stricter due diligence when matching borrowers with loan products. This is particularly important in an environment where interest rates and living costs are changing. The aim is to ensure that borrowers are only offered loans that are suitable for their circumstances.

Brokers can make complex financial decisions easier by:

• Providing access to a wide range of products: Brokers often have relationships with multiple lenders or insurers, giving you more options than going direct.
• Offering expert guidance: Brokers understand the market and can explain the pros and cons of different products.
• Saving you time: By handling paperwork and negotiations, brokers can streamline the process of securing finance or insurance.
• Advocating for your interests: A good broker works to find solutions that suit your needs, not just those of the product providers.

With more options available than ever, it’s important to choose a broker who meets your needs. Here are some key factors to consider:

Licensing and Accreditation

Always check that your broker is properly licensed. Mortgage brokers should be members of recognised industry bodies such as the Mortgage & Finance Association of Australia (MFAA) or the Finance Brokers Association of Australia (FBAA). You can verify a broker’s credentials on ASIC’s Professional Registers.

Fee Structure

Ask how your broker is paid. Some brokers charge a flat fee for their services, while others receive commissions from lenders or insurers. Understanding the fee structure helps you assess whether the broker’s recommendations are in your best interest.

Range of Products

Find out how many lenders, insurers, or product providers your broker works with. A broker with access to a broad panel can offer more choice, while those tied to a limited group may not be able to compare as widely.

Digital Experience

Consider whether the broker offers digital tools such as online applications, real-time updates, and secure document signing. These features can make the process faster and more convenient.

Reputation and Reviews

Look for independent reviews and ask for recommendations from people you trust. A broker’s track record and reputation can give you confidence in their service.

Let’s look at how brokerage might work for different Australians in 2026:

Home Loan Example

A first-home buyer approaches a mortgage broker. With the buyer’s consent, the broker accesses their banking and superannuation data through the expanded CDR regime. This allows the broker to quickly compare a wide range of loan products, considering not just interest rates but also features like offset accounts and lender policies. The broker’s digital platform can pre-fill much of the application, reducing paperwork and speeding up the process. Before proceeding, the buyer receives a clear summary of broker fees and commissions, ensuring transparency.

Share Trading Example

An investor uses a digital brokerage platform to trade shares on the ASX and international markets. The platform offers real-time market data, simple fee structures, and digital tools for tax reporting. The investor can access educational resources and receive updates on regulatory changes, helping them stay informed and compliant.

The brokerage industry is set to continue evolving, with technology and regulation driving greater transparency and efficiency. For consumers, this means more choice, clearer information, and easier access to financial products. Whether you’re looking to invest, borrow, or insure, working with an accredited and digitally enabled broker can help you navigate the complexities of the financial market.

Brokers remain a valuable resource for Australians seeking expert guidance and access to a wide range of financial products. The changes coming in 2026 are designed to make brokerage more transparent and consumer-friendly. If you value personalised advice, convenience, and the ability to compare options, partnering with a broker could be a smart move for your financial future.