“We listen to brokers, and importantly, act on what they say. Every quarter we survey our membership to find out how we can better support them. We look at this data and use it to inform the decisions we make in terms of investment, projects and resourcing.”
Wright said FAST had seen strong growth through its reputation as a business and commercial finance expert. He said the aggregator was also focused in growth in diversity.
“We are committed to supporting a more diverse industry through advocacy of female brokers. FAST believes that a diverse collection of viewpoints can have powerful and long-lasting benefits for business performance and success and we are highly focussed to helping grow the presence of female brokers grow in our industry. As part of this commitment, FAST hosts an annual national event series specifically for women in the finance industry – Women in Business.”
Growing brokers’ businesses
Aggregators are increasingly taking on the role of being a business partner to brokers. Rather than merely focusing on growing their ranks, they help brokers grow their businesses.
McKeon said AFG had invested in a variety of tools to help brokers develop. He pointed to the company’s FLEX program, as well as its suite of tools for mobile devices and desktops.
McKeon said AFG also offers marketing support, training and mentoring services, and a range of back office support services. But he said one of the most significant tools was the aggregator’s Business Intelligence platform.
“BI is an interactive reporting tool our brokers can access 24/7 within FLEX. BI displays data on lodged and settled deals, commission payments, portfolio growth, trail reconciliation, prospect opportunities, and customer statistics and marketability; all the key indicators required to let each broker know about the health and growth of their business.”
Lees pointed to Connective’s dedicated broker support managers assigned to every state.
“Our BSMs provide brokers with personalised support and specialised training from day one of joining Connective. They assist with seamless transitioning upon joining, work with the broker through an induction process, then identify and provide the specialised training required for brokers and staff, ensuring optimal efficiencies from the outset,” he said.
He also pointed to the aggregator’s Connective Learning education platform, as well as its compliance support
Kolenda said Finsure looked to tailor its support to brokers’ individual business needs and goals.
“As each broker has different personal and business goals we start by helping them put together and document a business plan.”
Examples of the support the aggregator can provide include branding, lead generation, recruitment, marketing and outbound calling to client databases, Kolenda said.
“Finally, Finsure offers a number of commission structure options, aimed solely at maximising a broker’s profitability. We offer brokers the choice of a competitive flat fee model, a flexible percentage model or a scalable transaction based model,” he said.
As an aggregator focusing on the SME market, FAST helps brokers to build new revenue streams, Wright said.
“To support our brokers to build new revenue streams, we provide a high touch support model and award-winning Partnership Managers. Our PMs spend two days every week focusing solely on strategic development of brokers’ businesses. Our Partnership Managers are supported by Support Officers, ensuring brokers always have access to personalised support, which our brokers really value.”
And Quin-Conroy said PLAN focuses not just on ongoing training, but in delivering that training in a way that suits its members’ individual needs.
“We recognise the need to provide training in different formats to ensure it is accessible to all of our brokers, and run face-to-face PD days, host a national conference and offer online tutorials and webinars. In 2015 we also launched our inaugural Commercial and Asset Finance Digital Summit, which offered 12 live stream webinars across two full days.”