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ISCOVER
Jessica Darnbrough
To help brokers realise the full value of their loan and insurance book, Advantedge has launched a buy/sell program.
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Under the program, brokers that aggregate via PLAN Australia, Choice Aggregation Services and FAST will have a dedicated channel to value, identify potential sales targets and sell their loan book to brokers that operate under the same aggregator.
Mortgage managers funded by Advantedge can also capitalise on the new program through the sale of their book to Advantedge.
Advantedge general manager of broker platforms Steve Weston said the launch of the buy/sell program aligns with the introduction of NCCP legislation and offers brokers seeking opportunities outside of the industry to monetise their book and be rewarded for the effort in building it.
“While a major industry milestone and broadly welcomed, NCCP legislation has fundamentally altered the face of our industry and this has forced many brokers to assess their business and whether or not it’s sustainable under the new regime,” he said.
“Some brokers may seek to make a career change or look for opportunities elsewhere; our buy/sell program can facilitate a smooth transition of a broker’s loan book to another group – allowing those brokers focused on building their mortgage business to grow via acquisition.”
Mr Weston said the program would not only help brokers that are looking to leave the industry, but brokers that looking to grow their book.
“Brokers will have to invest little of their own time and there is none of the usual expenses associated with finding a seller or buyer, conducting negotiations and flip flopping on deals, and no costs for legal documentation. Advantedge charges a low, single fee on settlement. It’s straightforward and significantly reduces the risk associated with doing it yourself.”
Brokers receive 100 per cent of the determined sale price on settlement.
