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Major intensifies competition with more cuts

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Australian Broker | 23 Aug 2012, 07:00 AM Agree 0
A major is upping the ante in the quest to lure brokers and their clients back, by cutting its rates yet again
  • SunnyCoastBroker | 23 Aug 2012, 09:42 AM Agree 0
    How can they be "targeting brokers" when they have substandard commission payments, the longest clawback period and segmentation?? If they were serious about wooing brokers, these are the areas they need to target. Maybe their market share is slipping.....
  • Prisco | 23 Aug 2012, 09:49 AM Agree 0
    If they want to increase broker support, why don't they increase commissions. Rates aren't too bad at the moment!
  • Deano | 23 Aug 2012, 10:51 AM Agree 0
    WBC who continue to think that RATE is the only thing astounds me.
  • Brisbane Borker | 23 Aug 2012, 11:20 AM Agree 0
    what about cost of funding????????????
  • ozboy | 24 Aug 2012, 10:02 AM Agree 0
    West who, are they still around? Ah taking the BOM approach to buying business based on rate. Very old school thinking.
  • KC | 24 Aug 2012, 11:00 AM Agree 0
    Ah yes Westpac. First they buy market share through acquisition not organic gowth. Then effectively tell brokers to sod off with massive commission cuts, double standards in broker and branch pricing and a rediculous minimum volumes policy while having the highest pricing of the four.

    So how is that working out for you?

    Must have been good. You're back spooking rates as a draw card for brokers business. Sounds more like the marketing division trying to create a push channel through consumers. Engage brokers - buying them gets nowhere.

    My current satisfaction is proudly advising clients that I can not recommend Westpac as I do not hold accreditation by choice. If they want Westpac, I am not the broker for them.

    It's all about good business not any business.
  • Positive Broker | 24 Aug 2012, 02:43 PM Agree 0
    Im with you kc
  • MARK | 24 Aug 2012, 06:31 PM Agree 0
    Increase the trail!!
    Not interested and your volumes falling.
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