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Connective has come up with a product that gives brokers the freedom to choose the rates and commission structure that suits them best, to balance business demand with client expectation.
Connective today announced the launch of a revolutionary product under its white-label offering, Connective Home Loans, which provides its brokers with unique pricing flexibility.
Connective's head of sales and business development, Michael Goerner, said the new product allows brokers to determine the weighting of the upfront commission, trail and interest rate.
He said its members can now set a competitive rate - and then customize their commission around that rate.
"For more established brokerages, the annuity income from trail and the value it builds in their business is important. These brokers now have the opportunity to dial-up trail and scale down the upfront commission, while still delivering a competitive wholesale rate to their clients.
"Conversely, a brokerage in its infancy relies on upfront commission for cashflow so they may elect to forgo the trail commission and instead boost the upfront.
"The product also promotes fee-for-service as brokers can offer clients an even sharper wholesale rate by substituting the commission with a fee, which can be justified by years of interest savings for the client. Brokers can also take advantage for their own loan, or offer 'mates rates' to staff, family or friends," Goerner said.
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