IT problems and restrictive trail clauses are holding back brokers from making a move
IT problems and restrictive trail clauses are holding back brokers from making a move - do you agree?
Clearly, there’s one big reason not to leave your aggregator: you’re happy with them. Our 2015 Brokers on Aggregators survey found that 74% of brokers were ‘very unlikely’ to leave their aggregator, but that still left 26% who might consider it. Aggregators are, at the end of the day, just service providers: brokers should be able to move to the aggregator that best suits their business. Yet many brokers are still stuck with aggregators they’re not happy with, and our Brokers on Aggregators Survey intends to find out why – through your feedback.
In 2015 our Brokers on Aggregators survey found the top obstacles to leaving were:
Do you agree? How does your business compare? Please take 5 minutes to complete our 2016 survey, which also includes new questions on the current ASIC remuneration review.
What’s particularly alarming about 2015’s result is that poor IT and CRM support was also the top reason to leave your aggregator. The top three reasons for leaving were:
1. Poor IT and CRM support
2. Poor accuracy and timeliness of commission payments
3. Poor BDM support
Whilst commission payments are the lifeblood of a broking business, and BDM support the human face of an aggregator, the modern brokerage is increasingly dependent on its IT and CRM systems. This dependence has only been increased by the vogue for database marketing and attempts to cross-sell other services to existing clients. Given most brokerages don’t have dedicated IT staff, switching systems can therefore be at the least time-consuming and expensive, at worst a danger to the business itself.
Are you happy with your aggregator – and if you would like to move, why haven’t you? Give us your views in our five minute 2016 Brokers on Aggregators survey, where you can also win a luxury gift hamper.
