Non-major touts more revenue opportunities for brokers

by Julia Corderoy09 Mar 2015
ING Direct has extended its broker referral program to include its superannuation product, which it says will provide more revenue opportunities for brokers.

Mark Woolnough, head of third party distribution at ING Direct said extending the broker referral program to include Living Super will allow brokers to deepen their relationships with clients, while addressing the growing issue of superannuation fees.

“People want value, whether it’s through the services their broker offers or through the products they use,” he said.

“A low fee superannuation option like Living Super could potentially save your clients’ hundreds of thousands of dollars on their retirement nest egg. That’s adding real value.”

The program also provides brokers with an opportunity to source additional revenue, with an increased referral fee of $550 (incl. GST) available until 30 June 2015.

Providing guidance on superannuation is a logical extension for brokers in their discussions with clients, Woolnough said.

“A home loan is a huge financial commitment and for many it is the first time they have had to really consider their finances now and into the future,” he said.

“Superannuation is the second significant financial commitment that most people face in their lives, and while clients are getting their paperwork in order and understanding their financial position, it is only natural that superannuation should be considered. Brokers are in a great position to be able to help their clients’ think about their finances during the home loan process and set themselves up for a sound future.”