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.

Time is right for fee for service: NAB

Staff Reporter 4 minute read

Jessica Darnbrough

The New Year could mean new business opportunities for brokers.

NAB Broker’s general manager distribution John Flavell told The Adviser that the introduction of licensing and regulation could help brokers boost their bottom line in more ways than one.

Mr Flavell said the introduction of legislation would hopefully enhance how accredited brokers are perceived by consumers, government, and other key stakeholders.

Advertisement
Advertisement

“Brokers will inevitably be seen as being more professional by consumers. Any industry that is licensed and regulated is deemed reliable and trustworthy,” he said.

With this in mind, Mr Flavell said brokers were in the perfect position to introduce a fee for their service.

And, by all accounts, consumers would not be put off by the fee as long as they know they are receiving quality advice from a professional broker.

“I speak to a lot of customers and there is an expectation out there that they would pay a broker a fee for the service they provide,” he said.

“There is a real shift in that direction. And I think with the introduction of licensing and regulation, brokers are in a good position to make the transition to this business model.”

PROMOTED CONTENT


Time is right for fee for service: 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
damian zaleski RYyr k3Ysqg unsplash

Breaking News

GetCapital launches broker platform

The business lender has rolled out a new broker platform, as it h...

fixed rate

Breaking News

Loyalty tax issue flagged to MPs

Brokers are key to holding lenders to account to ensure borrowers...

trade deal contract

Breaking News

Connective launches trail book marketplace

The aggregation group has announced a new arrangement with a spec...