Have you noticed just how intense the competition between aggregators is getting? If AFG and Connective have anything to say about it, then maybe you should take another look.
“I think because there has been a fair bit of movement and transitioning of broker groups between aggregators, it really has heightened competition,” says Connective principal Mark Haron.
“Those aggregators who are losing a lot of broker groups have finally sort of realised and are trying to do something about it,” he said.
Chris Slater from AFG says this competition heat is good for brokers overall.
“If you look at a typical AFG broker, they have access to better technology today than they have ever had, they have access to better marketing support than they have ever had, and better on-ground support than they have ever had,” he says.
“So the fact that we’ve had to continue to invest and have been forced into a more and more competitive environment has been a really good thing.”
Haron agrees. “Ultimately it is great for the brokers in terms of them getting their aggregation services at a cheaper cost it also means they get improved access to systems and technology. I think the majority of aggregator groups and certainly Connective are always looking to improve our service and improve our systems, so as we are sort of leading the way with that of course the other aggregator groups are having to lift their game,” Haron says.
Find out what else AFG and Connective had to say on aggregator competition, on Australian Broker TV - your home for the industry's best news, opinion and analysis.
TV: Gloves off, as aggregators battle it out for market share