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May 08: Westpac commission cuts shock aggregators

by Staff Reporter7 minute read
The Adviser

After months of speculation, Westpac has broken ranks from the big four banks and reduced its broker commissions, surprising many in the aggregation industry.

Westpac will cut its upfront commissions by nearly 29 per cent to 50 basis points, with trail commissions slashed by 40 per cent to 15 basis points.

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