Aggregator announces pricing shake-up

by Adam Smith02 Apr 2013

A leading aggregator has launched a fee model it says will tailor itself to individual brokers' needs.

FAST has announced a raft of new initiatives, including a new performance-based fee structure. FAST CEO Brendan Wright told Australian Broker the model will take into account individual brokers' business needs.
 
"We were the aggregator that brought the flat-fee model to the market a long time ago. This is an enhancement of that model, but it's a rather big change. We've specifically tailored a fee structure that fits the individual needs of the brokers," he said.
 
Wright said the new fee structure meant FAST was "not pulling a price structure off the shelf", but taking into account individual brokers' business models.
 
"It's specifically designed around the products and services they take to the market," he said.
 
Wright conceded that the aggregator appealed to a specific market niche, and said the new pricing structure reflected this.
 
"We're not the aggregator for all brokers. We're quite specific about who our broker segment is. We're the aggregator for business-minded brokers," he said.
 
The aggregator also announced a two-tiered support structure for its brokers, with partnership managers being backed up by "partnership support officers".
 
"The partnership managers are the primary point of contact, and the quality of those people is exceptional. They can have a genuine business conversation with brokers. The partnership support officers are there to back them up, so brokers have support at both levels," he said.

COMMENTS

  • by Andrew Gardner 2/04/2013 11:11:12 AM

    Offer sounds interesting but too vague to be meaningful.

  • by Bryce 2/04/2013 7:41:08 PM

    A competitive commission structure is simply par for the course these days.
    Passing through 90, 95 or even 100% means little if the broker support, software and overall security of trail isn't up to scratch!