A mortgage aggregator based in NSW has announced the appointment of a new head, who has committed to delivering a new remuneration offering to brokers.
Leighton King has been appointed to the newly created role of head of aggregation at diversified financial services business Vision, effective immediately.
Mr King most recently served as general manager of property finance group Homeloan Corp and has previously held senior roles at Vow Financial and Aussie Home Loans.
The new head of Vision aggregation told The Adviser that the business plans to allow brokers who join the group’s network to opt-in to a remuneration model of their choosing.
“Brokers can choose any of the models in the marketplace currently or create a specific model that suits them,” he said.
“We have made a decision that a partnership needs a collaborative environment that enables broker businesses to make choices regarding which model best suits their business.
“We have an obligation at Vision to provide every possible option for whatever stage our broker partner’s business is at.”
The remuneration models available to brokers include the payment of a flat fee to the aggregator, starting at $595 per month, with brokers receiving 100 per cent of upfront and trail commission on a settled loan, or a fee-sharing arrangement as part of a fees-for-service model.
Mr King added that he expects the remuneration strategy to help drive “significant” medium-term growth for the aggregation business.
“We see the business growing significantly over the next 12 months with a national footprint,” he said.
“We are passionate about providing our broker partners with all the tools to ensure success. We intend to grow together with our valued broker partners.”
The Vision group also offers financial planning and property advice services to clients, which Mr King said provides the business with a diversified revenue stream.
[Related: YBR overhauls company, CEO to step down]
If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Early bird tickets are on sale now. Work smarter, not harder, this year.
Charbel Kadib is the news editor on The Adviser and Mortgage Business.
Before joining the team in 2017, Charbel completed internships with public relations agency Fifty Acres, and the Department of Communications and the Arts.