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Vivienne Kelly
The new year is the perfect time to evaluate your aggregator’s software offering, Connective’s director Glenn Lees has claimed.
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In fact, those who don't assess their software platform risk being overtaken by their competitors, he said.
“Why is now the right time? It’s always the right time. It’s always the right time to make improvements to your business. It was right to do it six months ago. It was right to do it 12 months ago. It will still be right to do it in six months’ time,” Mr Lees said.
Software can give brokers a competitive advantage, he said, and those who don’t use it effectively, and who don't constantly reassess their arrangements, will be left behind.
“It’s not going to happen tomorrow, but there is a real competitive advantage to be had by engaging and evaluating,” he said.
Mr Lees’ comments were echoed by Stargate’s CEO, Brett Spencer, who said constant assessment of the software used is essential to improving a business.
Mr Spencer said brokers need to really think about how their software works for their business.
“Unfortunately, a lot of brokers don’t know what they want from their software – they just feel that they’re not getting everything they should be,” he said. “They should be looking at their software all the time.”
The Adviser’s inaugural switching aggregators survey, conducted in the second half of 2012, revealed that poor technology/software was the primary reason brokers would consider leaving their current aggregator.
When asked, ‘what would be the main reason you would leave your current aggregator?’, 24.8 per cent of brokers voted ‘poor software/technology’. Meanwhile, 23.4 per cent said ‘commission structure’ and the remaining votes were split between lack of business support, level of aggregation fees, dissatisfaction with ownership model, lending panel, assistance with compliance and professional development/education support.
