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%