At Australian Broker, we love a bit of healthy discussion, which is why we honour our favourite comment each week with a lofty little title. Drum roll please...
The issue of trail portability has reared it's ugly head again, with Outsource
Financial CEO Tanya Sale
claiming allowing trail to be transferred between aggregators would only lead to increased costs for the lenders and potentially commission cuts.
We received a selection of great comments on this topic, but in the end reader Dave Robinson won out. Dave not only proposed the option of fees payable to the lender on transfer as a solution, but also called on the lenders to weigh in on the debate.
"I can't believe it would be that difficult for a lender to transfer a trail book. Sure it might involve some cost upfront for the IT department to write the program but if they can do it for planners it shows that they CAN DO IT...if they choose,"
"I for one would be more than happy to pay a fee (reasonable) to move my old trail books however as you can see from the above I think the sticking point is aggregators not lenders. I would love to hear from some of the 3rd Party Managers from the lenders in relation to their position. Something on the record would always be an interesting conversation starter."
Thanks to everyone who contributed comments over the last seven days and keep an eye out next Friday to see if you're the author of Australian Broker's next top 'Comment of the Week'!