MPA announces the winners of Brokers on Aggregators 2023
Mortgage brokers need the backing of aggregators that tick a lot of boxes – accurate and timely commission payments, a high-quality lending panel, great technology support, communication and education to name a few.
It’s a challenging period right now for brokers with rising interest rates and high inflation. Thousands of customers are looking to refinance their home loans as many roll off lowed fixed rates onto much higher variable rates.
Brokers rely on their aggregators to help them do the “heavy lifting” when it comes to assisting customers and for those aggregators that get it right, broker loyalty is incredibly strong.
Now after an extensive process, MPA can reveal the top brokers aggregators in Australia, as chosen by their broker members. The 2023 Brokers on Aggregators survey asked brokers to rank their aggregators across 11 categories:
- Accurate and on-time commission payments;
- Quality of lending panel;
- IT and CRM support
- Compliance support
- BDM support
- Communication with brokers;
- Training and education;
- Additional income streams
- Marketing support;
- White label offering; and
- Lead generation
The aggregators were ranked with a score out of five in each category. Only those that achieved a response rate of at least 10% of brokers for each aggregator were included in the final list.
Brokers were also asked a series of questions relating to the services aggregators provided and their relationship with their current aggregator but these did not affect the overall score.
After surveying hundreds of brokers, MPA is proud to announce the best performers in Brokers on Aggregators 2023 across the 11 categories, plus the survey's overall winners, covering Aggregators and Boutique Aggregators.
Taking out the No.1 spot in the Aggregator category was Loan Market, followed by nMB (National Mortgage Brokers) in second place and outsource Financial in third place.
In Boutique Aggregators, the overall winner was MoneyQuest, with Liberty Network Services in second position.
To see how the aggregators ranked in each category and the brokers’ comments, see the 2023 Brokers on Aggregators report.
For a full comprehensive analysis of the survey’s finding, check out the August print edition of MPA magazine.
