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Firstfolio fee a 'revenue grab': Vow

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Australian Broker | 03 Aug 2011, 06:00 AM Agree 0
Vow Financial CEO Tim Brown has criticised a recent fee imposed by Firstfolio, calling it a "revenue grab"
  • bradq | 03 Aug 2011, 09:35 AM Agree 0
    That is the same reason I dont have accreditation with CBA... Charge me money for NOT lodging loans? You have got to be kidding yourselves.... There are plenty of lenders that wont do that, and I can still get my customers the same if not a better deal....
  • WhistleBlower | 03 Aug 2011, 06:32 PM Agree 0
    Brad Q (above) raises a fantastic point.

    In fact, I think I might just start raising invoices for (hm, hang on, let me think) 'oxygen' ... and send those invoices off to FirstFolio.

    'Why'? I hear you ask.... well, if they can manufacture fee's out of thin air, I might as well invoice them for using my oxygen.... hell, I might even invoice them for my time in compiling this blog.... coz if anything, Firstfolio has shown me that billing people for NOTHING is ok.
  • Matt | 04 Aug 2011, 01:58 PM Agree 0
    So these brokers can't even write 3 deals a year - It seems that the $150 monthly fee may be a blessing for them - Be fair and realistic - Pay for the support or write 1 deal every 4 months.
  • Ozboy | 04 Aug 2011, 03:33 PM Agree 0
    HHMMMM if it only takes 3 deals per year to cover the aggregators costs then if I write 10 a month will I get a refund for the other 7.

    Their is a very important fact to be learnt here I wonder who is getting it?
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