Year one trail for Suncorp brokers

by Adam Smith12 Dec 2011

Suncorp has introduced year-one trail commissions amid other changes it says will simplify its commission structure.

The bank will begin paying 15bps of trail in year one, increasing to 20bps from year four and beyond.

In addition to this, Suncorp head of intermediaries Steven Heavey announced the bank will pay a 15bp upfront bonus for brokers with conversion rates above 80%, on top of its current 50bp upfront commission.

"We’ve simplified our commission structure, enabling greater consistency and clarity for our brokers, putting us in a more competitive position within the market," Heavey said.

"Brokers are a core part of our lending strategy and we want to make it easier for them to do business with us by removing some of the barriers and complexities they may have experienced in the past."


  • by Country Broker 12/12/2011 11:58:48 AM

    Intresting NAB, and now Suncorp starting with better commisons have the aggregators done any of this no of course not, supply and demand are ruling her. , It shows that if the aggregators stood up for their brokers they would and should be able to negoiate better commission structures, are they going to do it NO WAY , why who owns the majority of AGGREGATORS/ LARGE BROKERS OH THAT'S RIGHT, some of the big four banks. Time the ACCC looked carefully at this is it restriction of trade ??

  • by Positive Broker 12/12/2011 4:05:03 PM

    Lets dwell on the positive. Just maybe the tide is turning on commissions. I know that my first strategy decision next year is support lenders who need brokers (Regional banks). I need a lender who will turn a deal around quickly and will actually put in an effort and make things happen. No more "its on the queue, we will get to it next Friday" for me.

  • by Positive Broker 12/12/2011 4:06:21 PM

    Quick decisions and a willingness to help is crucial. Rate will become less of an issue if other lenders follow ANZs lead.