Australian Broker forum is the place for positive industry interaction and welcomes your professional and informed opinion.

NMB brokers split on Aussie sale

Notify me of new replies via email
Australian Broker | 04 Apr 2012, 06:00 AM Agree 0
Market-leading brokers who aggregate through National Mortgage Brokers are split on the implications of Aussie's acquisition
  • Noel | 04 Apr 2012, 09:05 AM Agree 0
    As yesterdays commission cuts bite hard today and larger compliance cost set in, sadly most "boutique" aggregators will struggle to survive and I don't want anyone who has control of my trail fee "struggling to survive". My aggregator was bought by NAB and it has not changed the experience I offer my client one bit!
    Mr Tiffen is spot on!
  • ChrisC | 04 Apr 2012, 10:23 AM Agree 0
    That's all well and said but again we see the 4 majors market share and areas of control and dominance getting even bigger. The smaller ones may not be able to survive because the majors are squeezing them out one by one but by gosh we need them for competition. Speak of trails - we may be getting paid these for now but the majors have previously muted nil trails in the future. The more dominance the majors get, the more at risk our income and loan book become.
  • Country Broker | 04 Apr 2012, 11:12 AM Agree 0
    This can only be a good move in the end , Gerard Foley is a great operator but like all smaller operators it is about cost ratios and so on , he may not have needed to sell but it is great move.
    I am now in with an aggregator who is owned by the NAB , I am still independant and I sleep at night because i am not worried aboutmy upfronts and trailers . I can understand the concerns of some brokers about care and attention , it will be overcome when they see not much has changed except big brother is now there.
  • Paul Gollan | 04 Apr 2012, 01:56 PM Agree 0
    Outstanding move by Aussie and great outcome for nMB brokers. Aussie is well known for it's great training, marketing, lead generation, and market leading software platform all which will add value to nMBs proposition. The battleground over the next few years will be in technology platforms and this is the cost barrier that would have been difficult for the boutique aggregators to overcome, unless a decent off-the-shelf supplier comes along and fills that gap. I have no doubt that larger companies like Aussie will stay ahead of the curve when it comes it the impending boom in online mortgage sales in the next few years. The aggregators that deliver technology platforms that make it easy for their brokers to do business with efficient, fast and reliable technology are the ones that will win the battle. It's already happening in fact. It is not so much the cost of operating an boutique aggregation business that is prohibitive but the cost of not been able to match the big boys technology that will see the process of consolidation continue. There aren't many aggregators left to buy though.
Post a reply