Why brokers ditch aggregators: Top reasons revealed

From mediocre marketing support to catastrophic communication, there are plenty of reasons why brokers opt to switch aggregators - we reveal which is the most common

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What would you say is the main reason why you would leave your aggregator? We asked this question to the broker community, and the answers given offer a real insight into where the aggregators could improve their game.

According to Australian Broker sister publication MPA’s 2013 Brokers on Aggregators survey, there are a diverse range of reasons why a broker might consider looking elsewhere for their aggregation services.

Of the 11 options given, ‘Poor IT and CRM support’ only just edged out ‘Poor lead generation’ by 2% as the most-cited reason for leaving – taking 20% of broker responses overall.

‘Poor accuracy and timeliness of commission payments’ and ‘poor quality of lending panel’ followed up in third and fourth place with 15% and 12% respectively.

The full results were as follows:

1.            Poor IT and CRM support: 20%

2.            Poor lead generation: 18%

3.            Poor accuracy and timeliness of commission payments: 15%

4.            Poor quality of lending panel: 12%

5.            Poor BDM support: 9.5%

6.            Poor communication with brokers: 8%

7.            Poor additional income stream offerings: 4%

8.            Poor compliance support: 4%

9.            Poor marketing support: 3%

10.          Poor training and education: 3%

11.          Poor white label offering: 3%

12.          No reason given: 0.5%

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