National aggregator, eChoice has reported 20% annual growth in its broker network, saying technology innovation has driven its success.
eChoice general manager of aggregation, Blake Buchanan, said the aggregator was able to grow its distribution base over the year by investing heavily in broker technology.
“The last financial year saw our distribution base grow by 20%, contributing to an annual increase in settlements of 5.6%. And common to both results was brokers having access to business enabling-technology and hands-on support from dedicated teams of experienced professionals,” he said.
However, Buchanan said, it’s not just about providing access to technology, but about educating brokers on its commercial value to their business.
“Dedicating time to educating brokers about what’s new on offer is key to empowering them to look at their individual business and use all the assets available to them in order to be able to capitalise on every opportunity.
“It’s the age old adage, where if you don’t use it, you lose it.”
But in an environment characterised by ever-changing lending rates, a shifting property market and a developing regulatory environment, Buchanan said aggregators will be forced to continually review their broker offering to ensure they‘re meeting the needs of the ‘new’ market.
“Greater demand for whole-of-business platforms and a diversified range of products, services, partnerships and programs has dominated much of the last 12 months for many brokers and this is only set to continue, because brokers, like their clients, want more,” he said.
“This means the differentiator for their success over the coming year will be their ability to seek out the best tools, assets and team available to them - and translate opportunities into action to grow their business.”