Let my trail book go, brokers demand

by Adam Smith28 Mar 2013
"Because they've been able to move their clients when they change dealer groups, they're saying, 'Hang on, why can't I do the same thing here?' And because more financial planners are coming in and saying this, then brokers are going, 'Shivers. If you can do it, why can't we?'"

Dinte said he hoped the IFBF forum would continue the groundswell among brokers, and lead to changes among aggregators.

"The main thing I want to come out of this meeting is an acknowledgement that aggregators are stopping this from happeniing. What's been happening is this buck-passing situation where aggregators say, 'We'd let you take the trail, but those rotten banks won't let us do it. It's no skin off [banks'] nose who they pay trail to. What do they care?"

Dinte predicted that if one aggregator were willing to change their position on the issue, others would follow suit.

"Once it opens up and some of them start, the others are going to have to follow suit," he said.

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  • by OzBoy 28/03/2013 9:06:23 AM

    Never going to happen. Where is AFG or Advantage? Exactly, don't waste your time. Sad but true.

  • by Adrian Buscombe 28/03/2013 9:16:49 AM

    This is a great idea Stephen hope you achieve agreement with the other aggregators.

    What happened to Plan and AFG?

  • by suspicious 28/03/2013 9:18:27 AM

    Amazing! An attempt to assist brokers and their business. This is potentially one of the most significant issues for the industry and critical that it is pursued. Unfortunately ,from past experiences , the banks and aggregators will show their fangs and we run away back to behave as we are told.to.