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ISCOVER
By: Jessica Darnbrough
Uncertainty and confusion around regulation has spurred non-bank lender Collins Securities to make the move into aggregation.
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According to the lender’s chief executive officer Rob Emmett, Collins Securities will roll out its new aggregation model over the coming weeks.
Mr Emmett told The Adviser that the new aggregation model, which will take on 40 brokers in its first year, was born out of the current confusion surrounding licensing.
“With the advent of the National Consumer Credit Protection Act brokers are looking at their options and reviewing what benefit they get from their current aggregator,” Mr Emmett said.
“Independent brokers will be looking at whether joining an aggregation organisation will help them cope with the new licensing and compliance regime.”
Mr Emmett said there was a natural inclination for independent brokers to find a home and Collins has the resources to offer brokers compliance services as well as access to a large panel of lenders.
“The benefits of the Collins aggregation model will be cost savings through a range of affiliate services as well as a very competitive commission sharing arrangement whether the broker becomes a Collins Credit Rep or holds their own licence,” he said.
