MPA's brokers on aggregators survey reveals what brokers love about their aggregator.
According to our latest Brokers on Aggregators results, 75% of our respondents said they were very unlikely to change to another aggregator in the next 12 months.
Only 6% said they were very likely to change.
Brokers were asked to rate their likelihood on a scale of 1 (very unlikely) to 5 (very likely). The average of the replies was 1.61 with little age- and volume-related differentiation; brokers aged 21–34 were the most loyal, with an average of 1.31, although the least loyal group, 55–64s, were still unlikely to leave their aggregator, with an average of 1.86. Unsurprisingly, the likelihood of leaving decreases steadily with volume, with the noted exception of those writing $60m plus; perhaps brokers at that level feel they can ‘shop around’.
Brokers were also asked to rate their aggregator's performace on 11 categories, from 1 (poor) to 5 (excellent). All the following received averaged ratings of above 4: quality of lending panel, accurate and on-time commission payments, communication with brokers, IT and CRM support and compliance support.
BDM support, training and education, marketing support, white label offering and additional income streams all were scored in the top half of rating 3. Lead generation was the only category rated lower, with an average of 2.35.
What brokers love about their aggregators
- FAST broker
“AFG has always been great as an aggregator. Sometimes there are delays however it is understandable only because you are not the only member they look after. There has to be a level of understanding from both the aggregator and members.”
- AFG broker
“Smartline provides all of the above aspects to a high standard. Additionally it’s the supportive, encouraging, collegial environment and the organisational culture that I really appreciate!”
- Smartline broker
The full survey results can be found in MPA's latest issue 15.05, now on desks.
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IT support will 'make or break' an aggregator
The scores are in! How is your aggregator doing?
