Website Notifications

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

Customer advocacy for brokers at ‘all-time high’: Advantedge

arrowup businessman ta arrowup businessman ta
Reporter 5 minute read

The satisfaction level among borrowers who used a broker to secure a white label mortgage is at a record high, according to new research from Advantedge Financial Services.

Advantedge’s biannual broker satisfaction survey took place in February 2018 and involved 476 brokers and 765 home loan customers.

Overall, the NAB-owned wholesale funder achieved a Net Promoter Score (NPS) of +45, according to the survey.

Most notably, the survey found that customer advocacy for brokers who helped them lodge their white label mortgage was at an “all-time high”, achieving an NPS score of +78, up from +70 in August 2017.


Advantedge general manager Brett Halliwell welcomed the findings, stating: “It’s great to see that four out of five customers would highly recommend the broker who helped set up the white label home loan.

“Customers clearly value the service and guidance brokers provide.”

Customer satisfaction more generally was also on the rise, with the brand receiving an end-customer NPS of +38, up from +23 in August 2017.

The overall satisfaction rating for Advantedge’s CustomerCare team scored 8.1 out of 10, with customers noting that they were particularly pleased with the welcome calls they received from the staff.

Mr Halliwell commented: “While competitive rates and quality of product were also high on the list of factors influencing customer advocacy, the results show yet again that quality service that enables an easier loan experience comes front and centre for brokers and their customers.”


Brokers welcome BDM support and digital innovation

Brokers were also found to be satisfied with the brand’s service offering, driven by strong service levels.

The survey revealed that brokers scored Advantedge’s business development managers (BDMs) a rating of 8.8 out of 10, making particular reference to staff responsiveness and fast turnaround times.

The financial services provider noted that its introduction of IDYou and ZipID software helped improve broker efficiency and enhance the customer experience.

“Thanks to digital signing, our partners at MSA National are seeing 18 per cent of documents now being signed and returned within three hours and 60 per cent signed and returned within three days,” Mr Haliwell said.

“Put into context, that’s the same time it usually takes for paper documents to be received by the customer in express post.

“This digital innovation is shaving five to seven days off the settlement process and leading to increased conversion.”

The biannual survey reported that brokers scored such software 8 out of 10.

In conclusion, the Advantedge GM said: “We’re extremely proud to have achieved such strong results, but there is always room to do more.

“We will continue to enhance our products and services to deliver the straightforward, stress-free experience our brokers and customers are looking for.”

[Related: Advantedge relaunches white label home loans]

Customer advocacy for brokers at ‘all-time high’: Advantedge
arrowup businessman ta
TheAdviser logo

Are you a new-to-industry broker in the process of growing your business? Then there’s some great news: The Adviser’s New Broker Academy is back in 2021 and will provide you with essential insights into cutting-edge tools, strategies and processes to fast-track to success. Don’t miss your chance to attend. To secure your FREE place, visit newbroker.com.au now!

arrowup businessman ta


more from the adviser
Blake Albones Bank announces new head of home lending distribution

MyState Bank has hired the CEO of RateOne and former NAB head of ...

Sydney Sydney mayor launches business support, calls for JobKeeper

Sydney’s mayor has urged the federal government to resurrect Jo...

mortgage payments money Banks accused of bias against BNPL in lending process

An executive from buy now, pay later provider Zip has echoed repo...