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MPAMAGAZINE.COM.AUISSUE 13.5

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BROKERS ON AGGREGATORS

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WHAT THE BROKERS REALLY THINK

AGGREGAT BROKERS ON

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Welcome to the 2013 MPA Brokers on Aggregators survey. This is the sixth year that the nationwide survey has taken place, and the biggest response from the

broking community to date. As was the case last year, the proportion of responses that came from each aggregator’s stable of brokers more or less tallied up with their market share. Some aggregators’ brokers did not take part in the survey, hence there will be some aggregator names that are absent in this year’s report.

Once again, we’ve quizzed our respondents on the elements of service that are most important to them in order to provide a fascinating insight into what today’s broker is looking for from their aggregator. Eleven metrics were provided, ranging from quality of lending panel, and accuracy and timeliness of commission payments to white label offering and lead generation. Respondents ranked each of the 11 categories for importance from one to five, and the average scores for each are presented in this report.

Rank Category Score

1 Accurate and on time commission payments

4.71

2 Quality of lending panel

4.61

3 Communication with brokers

4.51

4 IT and CRM support 4.46

5 Compliance support 4.33

6 Training and education

4.15

7 BDM support 4.13

8 Marketing support 3.64

9 Additional income streams

3.53

10 White label offering 3.14

11 Lead generation 2.86

Rank Category Score


4.43

2 Accurate and on time commission payments

4.33

3 Communication with brokers

4.15

4 Compliance support 4.04

5 IT and CRM support 4

6 Training and education

3.93

7 BDM support 3.87

8 Additional income streams

3.4

9 Marketing support 3.35

10 White label offering 3.29

11 Lead generation 2.29

OVERALL RANKINGSRATE FOR IMPORTANCE RATE FOR AGGREGATOR SERVICE

Is the aggregators’ service proposition up to scratch? MPA’s 2013 Brokers on Aggregators survey reveals all…

For those aggregators that received a significant number of broker respondents we have also included summaries throughout the report of the importance with which their brokers ranked each of the 11 categories, and where they ranked each one when it came to provision of that service by their aggregator.

While readers will no doubt be interested to see which areas of the aggregator service proposition top the bill in terms of importance, this survey is also about giving brokers the opportunity to rate the aggregation community on its provision of these services. Each respondent, therefore, was asked to also give their aggregator a score – once again between one and five – for their aggregator’s performance in each of the 11 metrics. How do these scores tally up to the importance that brokers gave to each category? You’ll have to read on to find out how the aggregators shaped up in the eyes of this year’s respondents.

We also asked several key one-off questions to help gauge broker satisfaction, which included asking our respondents to rate how likely they were to leave their aggregator. The main reasons for wanting to leave, as well as the main barriers to leaving, were also sought.

So, where are the aggregators passing with flying colours, and in which areas of service do they need to up their game? Turn the page for this year’s results.

SPECIAL REPORT / BROKERS ON AGGREGATORS

AGGREGAT ORS



ACCURACY AND TIMELINESS OF COMMISSION PAYMENTS

AVERAGE SCORE FOR IMPORTANCE: 4.71AVERAGE RATING FOR AGGREGATOR SERVICE: 4.33 (2ND)

This year respondents were given the option to rate the importance of the accuracy and

timeliness of commission payments, and this is an issue that has immediately taken the top spot on the importance scale. Perhaps unsurprisingly, brokers are extremely keen to be with an aggregator that pays the right amount of commission in a timely fashion, giving the issue an average score of 4.71 out of five for importance.

When it came to rating the aggregators for their performance on this key issue, their average score

of 4.43 out of five shows that brokers are largely satisfied with the accuracy and

timeliness of their remuneration from the aggregators. However, this wasn’t the category in which aggregators picked up their highest average score. First place went to quality of lending panel, with an average score of 4.43, narrowly beating

accuracy and timeliness of commission payments into second place.

There is limited transparency of returns being earned by aggregators and how they reinvest in their income producers – their broker base. Like the banks, aggregators tend to cut services or increase costs/decrease commissions to balance for cyclical effects rather than invest for the long term.- Firstfolio broker

My commission split is through the entity I work under contract to, which is Century 21 Home Loans, and is not controlled by my aggregator. The commission split is excellent.- AFG broker

Very happy with all aspects of AFG except maybe a reduction to 15% commission take.- AFG broker

I am very happy with the flat fee model which allows us to keep 100% upfront commission and trail commission. I wasted three years with an aggregator paying 20% of my commission, and am glad that a few years ago I made the move to Connective.- Connective broker

On time commissions – fair and transparent commissions with excellent response time to errors or queries. Good brand who leaves me to promote myself and them as I wish.- Aussie broker

Brokers speak:Commissions 1.

STAR PERFORMERS

• National Mortgage Brokers

• Connective

• VOW Financial

• PLAN

• Loan Market

RESPONDENT BREAKDOWN

Age

21-34 12%35-44 28%45-54 35%55-64 21%

65+ 4%

Income Volume

$0-50,000 14%$50,001-75,000 16%$75,001-100,000 22%$100,001-150,000 25%$150,000+ 23%

$0-10m 30%$10,000,001-$20m 32%$20,000,001-$40m 24%$40,000,001-$60m 8%$60m+ 6%


QUALITY OF LENDING PANEL

AVERAGE SCORE FOR IMPORTANCE: 4.61AVERAGE RATING FOR AGGREGATOR SERVICE: 4.43 (1ST)

This is the first time since the MPA Brokers on Aggregators survey was launched six years ago

that quality of lending panel has failed to take top spot on the importance list. It’s worth mentioning though, that this category would have taken the top spot for the sixth year running had accuracy and timeliness of commission payments not been included as a new category this year.

Brokers appear to be largely happy with the quality of the lending panels on offer, with survey respondents giving the aggregators an average score of 4.43 for this issue. This was the highest average score given to the aggregators for any of the 11 given categories.

COMMUNICATION WITH BROKERS

AVERAGE SCORE FOR IMPORTANCE: 4.51AVERAGE RATING FOR AGGREGATOR SERVICE: 4.15 (3RD)

Communication: It’s a vital element of any professional relationship, and it

would appear that it’s one that’s front of mind for brokers when assessing what they want from their aggregator. Communication with brokers took the third spot in the importance list in this year’s survey with an average score of 4.51 out of five.

When it came to the how aggregators are performing on the communication front, their average score of 4.15 out of five also took the third spot in the list – neatly tying up with the third spot given to this category in the importance list.

2.

Changing aggregation with the lending panel, new ID etc. takes months.- Finsure broker

The biggest issue in changing aggregators is becoming re-accredited with all the banks. This is a big impediment to changing aggregators. Being an MFAA member should automatically qualify accreditation with every bank and non-bank on the panel.- nMB broker The aggregators must stay relevant in the industry so the lenders don’t find ways of passing them and dealing directly with the brokers.- Connective broker

Brokers speak:Lending panel

Firstfolio really need to lift their game, particularly with their communication. I never hear from them and if you have an enquiry, you have to email it and they send you an automated email saying that they will come back to you within 72 hours. Simply not good enough.- Firstfolio broker

Having recently moved to LoanKit, we have found them to be very supportive and regular open communication.- LoanKit broker

I genuinely believe Outsource is the best aggregation in Australia. I have constant contact with not only the BDM, but also the CEO. This makes you really feel like you are a part of something bigger.- Outsource Financial broker

Very happy with nMB’s overall support and they are always willing to listen and accommodate, promoting what i think is the biggest benefit you’re missing in your questions – a peer network. It’s great to be able to pick up a phone and chat to a successful broker in another state that may be able to help. nMB bring this together extremely well.- nMB broker

Brokers speak:Communication

3.

STAR PERFORMERS

• VOW Financial

• National Mortgage

Brokers

• Connective

STAR PERFORMERS• National Mortgage Brokers• VOW Financial• Connective



IT AND CRM SUPPORT

AVERAGE SCORE FOR IMPORTANCE: 4.46AVERAGE RATING FOR AGGREGATOR SERVICE: 4 (5TH)

IT and CRM support (last year labelled as IT and broker systems) rose one spot in the importance

list this year, jumping up from fifth to fourth place. Perhaps more stark though is the 0.7 point rise in its

average importance score to 4.46 – having ranked only 3.79 out of five for importance

amongst last year’s respondents.The placing for the aggregators’

provision of this service almost matches its placing on the importance

scale. In this case, the average score given to aggregators for their IT and

CRM support of four out of five puts it in fifth spot – narrowly behind

compliance support.

AFGRANK FOR IMPORTANCE RANK FOR SERVICE

Rank Category Rank Category

1Accurate and on time commission payments


2 Quality of lending panel 2 IT and CRM support

3 IT and CRM support 3Accurate and on time commission payments

4 Communication with brokers 4 Communication

with brokers

5 Compliance support 5 Compliance support

6 BDM support 6 BDM support

7 Training and education 7 Training and

education

8 Marketing support 8 Marketing support

9 Additional income streams 9 Additional income

streams

10 White label offering 10 White label offering

11 Lead generation 11 Lead generation

4.

Being almost four years in the industry, I have been at three aggregators. To me, there is nothing more important than the IT/software. Finding the most suitable lender for the clients using the software available, and then lodging and tracking that deal, are the most important items to me, and one that aggregators can miss and not see the importance of.- PLAN broker

Their IT/CRM is clunky making compliance more difficult than necessary and lead generation for me has been non-existent for six-plus months, although they are working to implement a new program to overcome this.- Loan Market broker

IT and CRM must be the best available.- VOW Financial broker

Choice’s Podium has a very poor CRM; if you were to look at different models you wouldn’t switch to them.- Choice Aggregation broker

Connective has one of the most appealing aggregation models, has fantastic BDM and back office support and probably the best IT model and CRM.- Connective broker

We changed from Vow to FAST some 18 months ago because of IT and curtain instability issues.- FAST broker

IN FOCUS

CHOICERANK FOR IMPORTANCE RANK FOR SERVICE


1 Quality of lending panel 1 Quality of lending

panel



=3 Communication with brokers 3 IT and CRM support

=3 IT and CRM support 4 White label offering

5 Compliance support 5 Communication with brokers

6 Training and education 6 Compliance support

7 BDM support 7 Training and education

8 White label offering 8 BDM support

9 Additional income streams 9 Additional income

streams

10 Marketing support 10 Marketing support


IN FOCUS

Brokers speak:IT and CRM support

STAR PERFORMERS• AFG• National Mortgage Brokers• Connective


COMPLIANCE SUPPORT

AVERAGE SCORE FOR IMPORTANCE: 4.33AVERAGE RATING FOR AGGREGATOR SERVICE: 4.04 (4TH)

Judging by this year’s results, the compliance issue appears to have taken something of a back

seat to other broker concerns in recent months. When last year’s survey results were collated, compliance support (labelled last year as licensing/NCCP support) took second spot on the importance list, whereas this year it takes a mid-table fifth spot. However, when the average scores are compared side by side this year’s importance score for compliance support of 4.33 out of five is significantly higher than last year’s average of 4.03 out of five.

Aggregators were scored well for their provision of compliance support, with their average score of 4.04 out of five putting this area of the aggregator service proposition in fourth place on the quality of service list.

TRAINING AND EDUCATION


The results for the training and education category tell a similar tale to those for the

compliance support issue. In terms of importance, training and education may have dropped a few places on the overall list from third in last year’s survey to sixth this year, but its average score of 4.15 is still well above last year’s average of 3.86.

The score given to aggregators for their broker training and education services was 3.93, indicating that some improvement could be made to reach peak performance in the eyes of brokers. That said, this average score put training and education at sixth place out of 11 when it came to ranking each element of the services that aggregators were judged upon. This neatly matched its importance ranking of sixth.

5.

Connective go the extra mile, particularly with compliance. They don’t get in my way and dictate but offer huge support where nothing is too much trouble.- Connective broker

This aggregator represents a small part of my business, however the level of compliance and licensing requirements are the biggest concerns.- AFG broker Individual credit licence holders should receive a larger split of commission as they are not of any burden on the compliance of the aggregator.- AFG broker

Brokers speak:Compliance

Aggregators should run training on how to be a better broker rather than a lender.- AFG broker

Aggregator is based in Sydney, consequently face to face training and support is difficult as I am based in WA.- Firstfolio broker

I think we just need more training to be comfortable with the system.- VOW Financial broker

Brokers speak:Training and education

6.

STAR PERFORMERS• Loan Market• National Mortgage Brokers• VOW Financial• Connective

STAR PERFORMERS• National Mortgage Brokers• VOW Financial• Connective



BDM SUPPORT


BDMs may perform a vital intermediary role in the aggregator-broker relationship, but BDM

support was only judged by brokers to be the seventh most important element of the 11 aggregator services ranked in the survey. That said, the average score of 4.12 out of five given by respondents for the importance of BDM support suggests that it’s still considered to be highly important – albeit less so than accuracy and timeliness of commission payments or quality of lending panel for example.

BDM support took joint sixth spot when it came to how well the aggregators are performing in

this area, suggesting that they’re tracking well enough on this service area

compared to the importance that brokers give to it. However, the

average score given to the aggregators for BDM support of 3.87 is shy of the fours – so this is perhaps

one area in which aggregators could look to up their game.

7.

ALCo have been very supportive when I moved aggregators and returned from maternity leave. The BDM support is phenomenal.- ALCo broker

My BDM support of has been good since the appointment of my current BDM.- Loan Market broker

They are a perfect match for my business model and the BDM provides 100% support when called upon to do so.- PLAN broker

Aggregator has a broker academy to develop new brokers as well as great BDM support right up to national level. You’re a name not a number.- Loan Market broker

I don’t even know who my BDM is. They have never called me and I have been with AFG for nearly 10 years.- AFG broker

Brokers speak:BDM support

FASTRANK FOR IMPORTANCE RANK FOR SERVICE


=1Accurate and on time commission payments

1 Compliance support

=1 Communication with brokers =2

Accurate and on time commission payments

=1 IT and CRM support =2 Quality of lending panel


5 Compliance support 5 Training and education

6 Training and education 6 Communication

with brokers

7 BDM support 7 Marketing support

8 Marketing support 8 BDM support

9 Additional income streams 9 Lead generation

=10 Lead generation 10 Additional income streams

=10 White label offering 11 BDM support

IN FOCUS

LOAN MARKETRANK FOR IMPORTANCE RANK FOR SERVICE



1 Compliance support

=1 Communication with brokers =2


=1 IT and CRM support =2 Quality of lending panel


5 Compliance support 5 Training and education

6 Training and education 6 Communication

with brokers

7 BDM support 7 Marketing support

8 Marketing support 8 BDM support

9 Additional income streams 9 Lead generation

=10 Lead generation 10 Additional income streams

=10 White label offering 11 BDM support

IN FOCUS

STAR PERFORMERS• Finsure• AFG



MARKETING SUPPORT


Marketing support has managed to stymie its run of last places in

the Brokers on Aggregators importance list. In fact, this is the first year that marketing support hasn’t come in dead last. This improved performance is reflected in this year’s average score of 3.62 – a 0.41 point increase on 2011’s score of 3.21.

Is the service that aggregators are providing matching up to the increased importance that brokers are placing on marketing support? According to this year’s respondents, the aggregators are averaging 3.3 out of five when it comes to their performance in this category. This could be one area that warrants more focus in future.

ADDITIONAL INCOME STREAMS


It seems that assistance with diversification is not an issue that’s top of mind with brokers at the

moment when it comes to the services that they expect from their aggregator, with additional income streams only coming ninth out of 11 on the importance list – with an average score of 3.52 out of five.

The average score given to aggregators for service in the additional income streams category of 3.4 put it in eighth place on the selected list of services.

8.

More marketing materials and industry updates would be helpful to relay to clients and educate them on the industry.- Choice Aggregation broker

I find Connective by far the best aggregator I have worked with, for overall support, marketing, commission structure and the best CRM system.- Connective broker

I am part of a franchise that aggregates through Astute so I don’t need all of the services, such as marketing support, from my aggregator.- Astute broker

Aggregator model works very well, excellent commission structure and support but comes at a cost of very limited marketing, but worth it if you are strong enough to build your own business.- Choice Aggregation broker Aggregators do not advertise their member broker services enough.- PLAN broker

Brokers speak:Marketing support

9.

The product and income stream diversification that VOW offers is great. You are able to speak to the Secretary or even the CEO himself, you have full transparency when dealing with any member of VOW and I feel that, as a boutique aggregator, the bigger models have a lot that they can learn from VOW.- VOW Financial broker

I’m very happy with VOW, my aggregator. They provide a lot of support. They also provide additional services to supplement my income.- VOW Financial broker

Astute are very pro-active in providing with access to other income streams and providing the support for these services.- Astute broker

Brokers speak:Additional income streams

STAR PERFORMERS• VOW Financial• Loan Market• National Mortgage Brokers

STAR PERFORMERS

• VOW Financial


• Finsure



LEAD GENERATION


Lead generation was the only service out of this year’s 11 options that received an average score

of less than three out of five for importance – putting it solidly in dead last position. Its average score for importance of 2.86 out of five was a good 0.26 points behind the 10th placed white label offering category.

The average rating for aggregator service in the lead generation category also put it in last position when it came to rating the aggregators’ performance in this area. This may suggest that aggregators have got their priorities right in terms of the resources that they devote to lead generation, but the average score that they received in this area of just 2.29 out of five is by far the lowest average rating to the aggregators in any of the 11 chosen categories specified in this year’s survey. In fact, the 10th placed white label offering category still received an average score that was a whole point better than the average given to lead generation.

WHITE LABEL OFFERING

AVERAGE SCORE FOR IMPORTANCE: 3.12 AVERAGE RATING FOR AGGREGATOR SERVICE: 3.29 (10TH)

White labelling took the second to last spot for importance amongst this year’s survey

respondents, with an average score of just 3.12 out of five, suggesting that brokers are still far more interested in the quality of their aggregator’s existing lending panel than its white label offerings.

This category also took the penultimate spot in the list of specified categories in this year’s survey when it came to the aggregators’ average rating for their provision of this service – scoring an average of 3.29 out of five with respondents.

10. 11.

STAR PERFORMERS• FAST• Choice Aggregation • National Mortgage Brokers

Outsource Financial does not have a white label and it doesn’t matter.- Outsource Financial broker

I am very happy with my aggregator. Commission split excellent, podium 2 excellent eventually, and Fastlend exceptional white label product. No reason to leave.- FAST broker

White label product is not what we require nor seek.- Outsource Financial broker

Brokers speak:White label offering

STAR PERFORMERS

• Loan Market

• Finsure

• Firstfolio

Even though lead generation is not part of their offering, from time to time they pass on some inquiries to brokers that the head office receives.- nMB broker

Lead generation is poor and system support very poor. System is too complicated and difficult to use. It does give me freedom and flexibility.- LoanKit broker

Greater numbers of online lead generation via AFG websites etc. would be a great advantage to my business.- AFG broker

Brokers speak:Lead generation


I have absolutely no intention of leaving Choice. They have been supportive of me and my business for years. The grass is not always greener!!! They could only improve by giving me an extra 5% on my commission split, but I’m not grumbling at all.- Choice broker

I have no issues with my aggregator and have no reason to leave them.- VOW Financial broker

Very happy with my current aggregator. Very unlikely to leave.- AFG broker

Very happy with Finsure, no reason I can see of leaving them.- Finsure broker

Have always been very happy with PLAN for past nine years. Have no reason to leave!- PLAN broker

I would like to say that at the moment leaving Smartline is not an option at all. They would have to do something really stupid for me to leave them. They are brilliant and offer fantastic support.- Smartline broker

Connective is a great aggregator but I am considering taking up a role with a group that uses another aggregator. This is the only reason I would change as the new aggregator’s software is inferior to that offered by Connective.- Connective broker

We pay a huge annual fee to our aggregator and don’t feel we receive much in return. The flat fee aggregator models appear to be winning new business. Will be looking to change as unsatisfied in service for the fees we are charged.- AFG broker

Very happy with current aggregator. Do not see any need in wanting to change at present. Their systems, software and website are excellent.- nMB broker

Brokers speak:Changing aggregators

CHANGING AGGREGATORS

One of the hot topics of the MPA Brokers on Aggregators survey is this issue of switching

aggregators. This year’s report set out to discover how likely our respondents were to leave their current aggregator, why they would choose to leave, and what the barriers to leaving were.

The good news is that brokers appear to be a largely satisfied bunch, with the average score for likeliness to leave their aggregator within the next 12 months coming in at just 1.75 out of five. Given that a score of one out of five was categorised as ‘extremely unlikely’ and it was impossible to give a score of less than one, this is a real result for the aggregators. Some of the plus points revealed in the survey included:

AGGREGATOR SATISFACTION

Yes 13%No 87%

Yes 76%No 24%

Yes 84%No 16%

Does your aggregator keep you well informed around industry

wide issues?

Are you happy with the fee/commission split?

Are you concerned about the sustainability of your aggregator’s

business model?

87% of respondents

were happy with

the sustainability of

their aggregator’s

business model

76% were happy with

their aggregator’s fee/commission split

84%

felt that their

aggregator

kept them adequately

informed of

industry issues



National Mortgage BrokersRANK FOR IMPORTANCE RANK FOR SERVICE




2 Quality of lending panel 2 Communication

with brokers

3 Communication with brokers 3 Quality of lending

panel

4 IT and CRM support 4 BDM support

5 Compliance support 5 IT and CRM support

6 BDM support 6 Training and education

7 Training and education 7 Compliance support

8 White label offering 8 White label offering

=9 Additional income streams =9 Additional income

streams

=9 Marketing support =9 Marketing support


IN FOCUS

PLANRANK FOR IMPORTANCE RANK FOR SERVICE


=1 Quality of lending panel 1




3 Communication with brokers 3 Communication

with brokers

4 IT and CRM support 4 BDM support

5 Compliance support 5 Compliance support

6 BDM support 6 IT and CRM support

7 Training and education 7 Training and

education

8 Marketing support 8 White label offering

=9 White label offering 9 Additional income streams

=9 Additional income streams 10 Marketing support


IN FOCUS

You cannot take your trail with you. Once it gets to a certain level you are ‘stuck’. The majority I speak to are in the same boat. Most would leave in a flash if they could take their trail with them.- Aussie broker

I have had the same aggregator for 10 years and their model has not changed. If I could leave I would but the handcuff on income is too great.- Specialist Mortgage broker

Actually the biggest hurdle to changing aggregators is the change in lender accreditations.- Finsure broker

Brokers speak:Barriers to leaving

BARRIERS TO LEAVING

While very few of this year’s respondents expected to leave their aggregator anytime soon, a small

number of comments suggested that certain respondents were unlikely to leave not because they were happy with the service received but because the barriers to leaving were too great.

So what’s stopping them? When asked the question ‘if you were to change aggregators today, what would be the biggest obstacle to you leaving?’, the top three responses by quite a margin were data migration/IT issues (30.5% of responses), contractual obligations (24.5%) and clawbacks/trail issues (20%).

Interestingly, a few comments suggested that one option that was not provided as part of this year’s survey – difficulties in gaining reaccreditation with a new aggregator’s lending panel – was also proving to be a significant barrier to switching.

MAIN BARRIER TO LEAVING

20%

24%

30.5%8.5%

7%

6%

3.5%

Clawbacks/trail issues 20%

Contractual obligations 24.5%

Data migration/IT issues 30.5%

Licensing issues 8.5%

Loss of back-office services 7%

Loss of marketing services 6%

Upfront commission issues 3.5%

REASONS FOR LEAVING

Barriers aside, when it came to the main reason for wanting to leave an aggregator, the range of

responses given by our respondents this year was quite diverse. Brokers were given the option of choosing poor performance in one of the 11 service categories that aggregators were ranked upon earlier in the survey as their main reason for wanting to leave.

Poor IT and CRM support was the most chosen reason for wanting to leave, accounting for 20% of all respondents, but poor lead generation was hot on its heels with 18%. Poor accuracy and timeliness of commission payments and poor quality of lending panel followed up with 15% and 12% respectively.

Another reason to leave that cropped up in broker comments was the amount of commission being paid out – rather than the accuracy and timeliness of payments.

If I was to leave it would be more about commission splits not commission payments.- AFG broker

Commission would be the main reason to leave.- PLAN broker

I recently changed from FAST to Finsure and the aggregators are becoming extremely competitive for our business.- Finsure broker

We have 25 brokers and have changed aggregators in the last six months from Choice to Connective. The primary reason was the poor software offered from Choice/Advantedge. The Podium system was costing our brokers sales and money.- Connective broker

We just changed aggregators to LoanKit. It took LoanKit less than a month to provide more genuine support, and complete more in office visits, than out previous aggregator managed in five years. That’s why I’m not changing aggregators again.- LoanKit broker

Connective is a great aggregator but I am considering taking up a role with a group that uses another aggregator. This is the only reason I would change as the new aggregator’s software is inferior to that offered by Connective.- Connective broker

We pay a huge annual fee to our aggregator and don’t feel we receive much in return. The flat fee aggregator models appear to be winning new business. We’ll be looking to change as we are unsatisfied in service for the fees we are charged.- AFG broker

Brokers speak:Reasons for leaving

MAIN REASON FOR LEAVING YOUR CURRENT AGGREGATOR

Poor accuracy and timeliness of commission payments 15%

Poor additional income stream offerings 4%

Poor BDM support 9.5%

Poor communication with brokers 8%

Poor compliance support 4%

Poor IT and CRM support 20%

Poor lead generation 18%

Poor marketing support 3%

Poor quality of lending panel 12%

Poor training and education 3%

Poor white label offering 3%

No reason given 0.5%

15%

4%

9.5%

8%

4%20%

18%

3%

12%

3% 15% 0.5%


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