In Brown’s opinion there are two major things aggregators are failing to do when it comes to servicing their broker network: Not listening and responding to brokers’ needs and not evolving their own business to make brokers’ business more successful.
However, he says brokers who are unhappy with the service being provided by their aggregators need to ensure that they’re communicating their dissatisfaction.
“The first thing a broker should do is talk to their aggregator about it. There needs to be a consistent feedback loop between the broker and their aggregation business. Vow sends out a survey to all of our brokers twice a year to understand their business requirements and gauge our level of support and service.”
If, after discussing the issue with their aggregator, a broker is unhappy with the response, Brown says s/he should look at other options in the market.
“These days, aggregators have evolved so much that offerings are different with commission models and extra products and services…There are a lot of opportunities for those aggregators that are willing to partner with their brokers and help them build a sustainable business model.”