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FSI calls on bank-owned brokers to disclose ownership

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Australian Broker | 08 Dec 2014, 08:37 AM Agree 0
The Murray Inquiry has recommended that mortgage brokers be required to disclose when they are owned by a bank
  • Vic Regional Broker | 08 Dec 2014, 08:59 AM Agree 0
    This will be interesting!
  • Melbourne Broker | 08 Dec 2014, 09:16 AM Agree 0
    I let my clients know the ownership structure of my aggregation group. It would be good for consumers to understand just how much of a grip the major banks have on the financial marketplace in Australia. Their tentacles spread far and wide.
  • Vic Regional Broker | 08 Dec 2014, 09:35 AM Agree 0
    Agree with the Melbourne Broker, I always declare ownership in my aggregator, I have never had a client walk away.
  • chris | 08 Dec 2014, 09:48 AM Agree 0
    Been saying this for years AND the bank owned 'non-banks' they advertise as such, should also be advertised under the banner of its bank owner.
  • John Whitten | 08 Dec 2014, 10:11 AM Agree 0
    Seeing I do not work for my aggregator and actually employ them by paying them a fee for their services, will I now need to advise my clients who owns my accountant or solicitor? My aggregator is just a cost of doing business.
  • Papery | 08 Dec 2014, 10:15 AM Agree 0
    Why is the word INDEPENDANT used twice in this article... Finance brokers are pretty much forbidden from using this description... Once again its all about perception...
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