With commission under fire, we’re asking if the banks are telling ASIC why brokers matter
With ASIC on the brink of publishing their findings into broker remuneration, the third party channel hasn’t seen so much scrutiny since the NCCP. You may have told ASIC why broker help consumers – but have the banks? That’s the question MPA is asking in our Brokers on Banks survey, open now.
Last week a separate review commissioned by the Australian Bankers Association flagged up the risk of “commission based mis-selling” by brokers, criticized introducer fees and questioned whether volume-based incentives for brokers should be ended. Yet many bankers have publicly and repeatedly stated how important brokers are to their businesses. What the banks have said to ASIC behind closed doors remains open to question.
Now in its 14th year, our Brokers on Banks survey is testing the trust between brokers and banks, whilst asking you to pick out the banks that have impressed and disappointed you over the past year. It takes less than five minutes, and you could win a pair of Bose QuietComfort® 25 Acoustic Noise Cancelling® headphones (RRP $399).
Do you believe the banks defended the role of brokers to ASIC? Have your say now.
Last week a separate review commissioned by the Australian Bankers Association flagged up the risk of “commission based mis-selling” by brokers, criticized introducer fees and questioned whether volume-based incentives for brokers should be ended. Yet many bankers have publicly and repeatedly stated how important brokers are to their businesses. What the banks have said to ASIC behind closed doors remains open to question.
Now in its 14th year, our Brokers on Banks survey is testing the trust between brokers and banks, whilst asking you to pick out the banks that have impressed and disappointed you over the past year. It takes less than five minutes, and you could win a pair of Bose QuietComfort® 25 Acoustic Noise Cancelling® headphones (RRP $399).
Do you believe the banks defended the role of brokers to ASIC? Have your say now.
