Wilson National has advised brokers to turn to white labelling as commissions are slashed and lenders – such as Credit Union Australia – start to abandon third-party distribution.
According to Wilson National managing director Geoff Wilson, brokers should stand by their brand and consider white labelling their own financial products to combat the fall in commissions and reduced product choice.
“By doing this brokers have the ability to set their own pricing and commission structure, which gives brokers peace of mind and a degree of reliability in their business model,” said Mr Wilson.
“If the circumstances suit, brokers should place their customer with their own branded product and service the customer the way they know they want to be serviced,” he said.
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