Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

No threat to broker commissions: NAB

Staff Reporter 1 minute read

National Australia Bank has reinforced its commitment to the broker channel and said it has no intention of turning brokers into financial planners.

Speaking with Challenger Mortgage management’s chief executive Drew Hall on Friday, NAB Broker’s executive general manager Matt Lawler reassured brokers that commissions would not be replaced by a fee for service structure.

He said that while there are a lot of parallels between the two industries “we won't see brokers become financial planners."

“The thing for us to look at is how does the business model for mortgage brokers evolve and how can we learn from other industries,” Mr Lawler said.

He said that commissions “definitely” would continue as long as they were transparent.

“We don’t make these changes every couple of years. They are a once in a cycle change and we have no intentions of changing that,” Mr Lawler said.

No threat to broker commissions: NAB
default
TheAdviser logo

The not-to-be-missed Accountants Daily Strategy Day will travel through Melbourne and Sydney in August to equip accounting professionals with the latest industry updates and tips for modern practice management as well as the latest cutting-edge technology, processes, strategies and trends shaping the future of accounting. Visit the website for more information: www.accountantsdaily.com.au/strategy-day

default

 

more from the adviser
Greater Bank Newcastle Perm merger

Breaking News

Two banks announce intention to merge

Two large customer-owned banks have announced that they are inten...

Paul Herbert AMP Newsroom

Breaking News

AMP hires intermediary head

AMP Bank has recruited from MyState for its new head of intermedi...

Theo and Alex Shore Financial

Breaking News

Brokerage officially launches white-label loan

North Sydney-based brokerage Shore Financial has officially launc...