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Jessica Darnbrough
Brokers can expect to see their market share grow over the coming 12 months, one industry stakeholder has claimed.
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Speaking to The Adviser, NAB Broker’s general manager John Flavell said licensing combined with the complex and highly competitive market place will make the broker proposition more compelling than ever.
“While it is hard to put a number on broker market share growth, I will say that it is a highly competitive and highly complex market at the moment. And, when you are in an environment such as this, borrowers tend to lean on experts – people that cut some of the confusion out,” Mr Flavell said.
“Moreover, the industry has recently made the move to licensing and with licensing comes accountability, which is a compelling proposition from a borrower’s perspective.”
Mr Flavell said NAB recognised the fact that borrowers are happy using the services of a broker, and they would look to drive this further in the future.
“The NAB Group has always supported the broker channel, but we are about to start openly promoting the channel to our customers.”
NAB Broker is not the only lender to openly voice their support for the broker channel.
Earlier this year, St George’s chief executive Rob Chapman told The Adviser that the bank would look to ramp up its broker market share by 10 per cent.
"The third party distribution channel is really important to us. The broker channel accounts for just under 40 per cent of our business to date, and we want to grow that by another 10 per cent,” he said.
