Connective Broker Resources

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What you want from your aggregator

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In the last two editions of their monthly magazine, The Adviser has taken a journey into the mind of the broker with their inaugural ‘Switching Aggregators Survey’ and results.  The two part report provides insight into what brokers like you look for in an aggregator.

The Adviser used the survey results to draw conclusions and compare Australia’s leading aggregators against each other in terms of service and product offering. Strengths and weaknesses are identified and areas in need of improvement are suggested. The findings also suggest what would influence a decision to switch aggregators.

  • 55.3% indicated they would switch to an aggregator which has a flat fee business model.
  • 24.8% think poor software technology is a reason to switch.
  • 24.3% felt that the inability to earn commission would be a reason to switch and
  • 19.9% said lack of business support would be a reason to seek a different aggregator.

No handcuffs

The ability to take trail took top spot on the results hierarchy. 95.7% of the 400 survey participants felt that the ability to take trail was important or very important. These results suggest that companies which advertise a ‘no handcuffs’ approach to their membership will be considered a more favourable aggregator in a decision to move to a new service provider.

Industry leading software

Having access to a high performing IT platform was also listed as an important feature of a choice aggregator with 70.7% of participants indicating they would consider switching service providers for better software.

In summary the ability to access trail commission and optimum software are of high importance to you as a broker. So, based on these results, you’re on the right team as a broker with Connective.

Whether or not you agree with the conclusions, the report makes for an interesting read and is sure to initiate discussion.