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."