CHOOSING A BROKERAGE

Switching brokerages: the mechanics

Deciding to move is the easy part. The licence transfer, the live pipeline and the timing are what actually need planning.

Most writing about switching brokerages is about whether to do it. This page is about how it actually works: what happens to your licence, your live files and your clients while the move is under way.

Licensing is provincial, so the process differs by province. What follows is the shape of it. Confirm the current procedure with your regulator, because the details change.

Licence transfer by province

British Columbia

BCFSA regulates mortgage brokering. A registration is tied to the brokerage you work under, so a move requires the regulator to be notified and your registration reassigned. Note the wider change under way: the Mortgage Services Act replaces the Mortgage Brokers Act on 13 October 2026, and current registrants must complete BCFSA's transition education by 22 September 2026.

Alberta

RECA licenses mortgage associates and brokers. Licences are held through a brokerage, so a move involves terminating with one and being registered by the next. Every Alberta licence expires on 30 September regardless of when it was issued, which makes timing around that date worth planning.

Ontario

FSRA licenses mortgage agents at Level 1 and Level 2 and mortgage brokers. A licence is sponsored by a brokerage, so a move requires the new brokerage to sponsor you and the change to be filed. Ontario licences renew annually on 31 March.

The sequence that avoids problems

  • Read your current agreement first. Notice period, files in progress, trailing compensation and any restriction on contacting clients
  • Agree a start date with the new brokerage that accounts for your notice period and your regulator's processing time
  • Take an inventory of live files and decide with both brokerages which fund where
  • Confirm who is paid on files that fund during the transition, and get it in writing before you resign
  • Check whether your lender status is yours or your brokerage's, because that determines your compensation on the first files after you move
  • Plan client communication, and keep it factual. Your clients care that their file is safe, not about brokerage politics
  • Update your licence record, business cards, website, email and any regulator required disclosures on the day the change takes effect

Timing is the part people underestimate

A notice period, a regulator processing a change and a live pipeline rarely line up neatly. Start the conversation earlier than feels necessary, and never resign before the receiving brokerage has confirmed what happens to files already in progress.

Common questions

Can I take my clients with me when I change brokerage?
That depends on your agreement and on who the contract says owns the client relationship. Read the clause before you resign, and if it is unclear, get clarity in writing rather than assuming.
What happens to a file that is approved but not yet funded?
It has to be resolved between the two brokerages. Common approaches are to let it fund at the original brokerage or to resubmit it, and the compensation treatment differs. Agree it in advance rather than during.
Do I need to tell my regulator?
Yes. In every province your licence or registration is held through a brokerage, so a move is a change the regulator has to record. The new brokerage normally files it, but the obligation is yours.

Where to verify this

Licensing requirements come from BCFSA in British Columbia, RECA in Alberta and FSRA in Ontario. Transfer procedures change, so confirm the current process with your regulator before you act. This is general information, not legal or compliance advice. Current as of 3 September 2026.

Planning a move?

We have moved enough brokers to have a process for the pipeline part. That is the first thing we walk through.

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