National Australia Bank (NAB) does not plan to cut third-party commissions but is instead exploring ideas of “re-shaping” current commission structures.
In contrast to Westpac, which announced commission cuts earlier this month, NAB Broker regional general manager Matt Lawler said NAB was “more in the space of re-shaping remuneration rather than just cutting”, The Australian reported today.
According to the daily, NAB is looking to broaden the role of mortgage brokers to wider financial advisers and will also look to reward brokers that cross-sell other NAB products.
More details to come.
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