How can brokers support their clients amid economic uncertainty?

Australians had a strong start to 2025. In December 2024, over 80% of Aussies surveyed in Wisr’s Money On Your Mind Report said they felt confident about their financial situation going into the new year. In February, the Reserve Bank of Australia (RBA) cut interest rates for the first time since November 2020. It was all feeling very positive - until it wasn’t.

Fast-forward to April 2025, and things are looking very different. The ASX 200 plummeted this week in response to US President Donald Trump’s global tariffs. More than $160 billion was initially wiped off the Australian stock market and the Aussie dollar was also in freefall. The currency even fell to its lowest level against the US dollar since during covid. 

This also comes just a month after ex-cyclone Alfred left a trail of destruction across Queensland and northern New South Wales. Many areas were hit by flash flooding and high winds, resulting in extensive damage to properties and vehicles. 

Then, there’s the Australian federal election on the horizon. With so many opposing views on what the nation should prioritise, the end of 2025 could look very different from how it started.

This level of economic uncertainty is likely to have an impact on Aussies’ financial confidence. The Money On Your Mind Report revealed that 47% of those surveyed felt they were under financial stress in 2024, with both brokers and consumers highlighting the rising cost of living as the primary cause. So, will more Aussies feel financial pressures in 2025?

Well, the initial impact from this week’s ASX crash resulted in many Aussies witnessing a fall in their retirement savings. Those with investments in the stock market are also likely to have seen a drop in the value of their holdings. On top of this, there are potential longer-term implications for prices and employment levels.

Yet, despite the dramatic start to April, new Treasury modelling suggests that a global trade war will not drive Australia into recession. While Australian GDP is expected to take a slight hit and prices may rise, the good news is that the impact on the Australian economy is predicted to be manageable.

Everyday Australians are likely to look to brokers and financial advisors to help them navigate these uncertain times. In fact, consumers surveyed in Wisr’s Money On Your Mind Report said that their top reason for using a broker in 2024 was to utilise their knowledge and experience. 

While there may be economic uncertainty, many Aussies will still be keen to keep life moving and achieve their goals this year. With this in mind, Wisr’s Chief Growth Officer James Goodwin shares what may help give consumers peace of mind when choosing a lender right now.

“While each individual client’s circumstances will be different, finding your clients a lender that offers them flexibility as well as great value is key amid economic uncertainty. 

“For instance, at Wisr, we don’t charge any early repayment fees on our loan products to make sure our customers can always act in their best interests. We understand that circumstances can change - and fast. So with Wisr, if our customers want to pay off extra while they can, they’re able to at no extra cost.

“Wisr’s Money On Your Mind Report 2025 also revealed that consumers value trust in an organisation above everything else when choosing a financial institution. Finding lenders that are seeking the best outcomes for your clients beyond settlement will be key to giving consumers confidence in 2025.”

Senior Wisr BDM Paige Hammond explains how brokers can leverage the current offers available at Wisr to make sure they’re getting their clients exceptional value. 

“Getting your clients a great deal on asset finance or a personal loan is always important, but it’s especially important right now. 

“At Wisr, we’re currently offering Price Beat on both eligible personal loans and asset finance deals, making our rates truly unbeatable. Essentially, if you find your client a better rate elsewhere, Wisr will beat it - so you can be sure your client’s best rate is with us. 

“We also have a brilliant caravan asset finance promotion running at the moment where you can get your client a 0.5% rate discount on their personalised rate. 

“And it’s always worth remembering that here at Wisr we have a common-sense credit mentality. Our team of award-winning BDMs will workshop scenarios with you to help you get the best outcome for your clients. 

“You can find out more about all the terms, conditions and eligibility details for current Wisr offers in our Partner Portal, or just give your state BDM a call and they’ll be happy to run through the details.” 

Wisr offers are for April 2025. Terms and conditions apply. 

Disclaimer: This content is for informational purposes only and does not constitute financial advice, nor should it be relied upon as such. Readers should seek independent professional advice tailored to their financial situation before making any decisions.