Brokers are switching en-masse, claims aggregator

by Caroline Dann11 Sep 2012

An aggregator has appointed an on-boarding manager as a result of an influx of recruits in recent months.

Vow Financial has recruited 13 broking businesses since July 1, leading to a decision to appoint specialist Amy Dimech to manage the on-boarding process for groups looking to join the aggregator.

Vow Financial CEO Tim Brown said it was critical the transition process was as "smooth and quick" as possible.

“This is why we have created a specialist position to handle the transitions, as well as restructured the business development management team, to make the process as efficient as possible,” Brown said.

Brown said the influx in recruits showed there was a real interest in the market in joining Vow.

"After two years we have got some great traction," he said. “We have had a real focus on recruitment and we are starting to reap the rewards."

Brown expects the trend to continue, as he said there was a growing number of inquiries from broker groups looking to move, and indications a large number of groups were reviewing their current agreements.

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  • by BOB 11/09/2012 10:23:08 AM

    I think that not for the hand cuff clauses in many of the aggregator agreements there would be more brokers looking to move. hand cuff clauses should be illegal much the same as DEF's are for our customers.

  • by SanityPrevails 11/09/2012 12:50:15 PM

    Bob, it appears to me you may not have negotiated your aggregator agreement very well. My aggregator who happens to be the largest, negotiated every aspect i was concerned about, all the while ensuring they made a profit which ultimately benefits me and my business.