Australian Broker forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Brokers vs planners: Have we finally found common ground?

Notify me of new replies via email
Australian Broker | 12 Apr 2013, 08:00 AM Agree 0
One finance company head thinks he's found a way to get brokers and (gasp!) financial planners to work peacefully side by side
  • Lesley Wood | 12 Apr 2013, 09:33 AM Agree 0
    At Australian Loan Company we have been doing this for 10 years and I agree with the comments made. Over the time we have established numerous partnerships, referral agreements and grown many business in this way. You are right it is a proven formula.
  • Broker Chris | 12 Apr 2013, 09:35 AM Agree 0
    Totally agree. We have had this model for years. We have over 120 planners and 20 brokers. None of them hold dual authorisations as we have found that it is better to do one thing great and refer other services to an expert on a fee sharing arrangement.
  • SIDBROKER | 12 Apr 2013, 09:45 AM Agree 0
    I have always found financial planners very helpful. They are so keen to get access to my client data base and yet have no intention of giving any access to theirs. I guess it a matter of whats yours is mine and whats mine is mine also. Thanks very much.
  • Mike C | 12 Apr 2013, 10:05 AM Agree 0
    Like Lesley, our group has also been going for 10 years. We have joint access to 'Data Bases' & completely networked IT. We have 3 distinctly separate arms of the 'group' which carry the specialists & each are a saleable business in their own right, were it to be dismantled. We market ourselves as 'One' group. We do not pay referral fees bewteen the arms so we can prove to the client base that we are working in their best interests, in addition to showing each other that the 'group' is more than just a number of 'business contracts'.
  • Patrick | 12 Apr 2013, 10:46 AM Agree 0
    I simply do not see how you can be an holistic financial adviser/planner and exclude both advice and dealing services in relation to credit. I have been a mortgage broker since 1997 and in 2007 diversified into financial planning. This has created an increasing supplemnetary revenue stream to offset run off in mortgage book trailers. Not all brokers would have the capacity to be good advisers, but this is just a part of the overall upgrade in professional standards which the industry seems to be slowly addressing.
Post a reply