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National Australia Bank (NAB) does not plan to cut third-party commissions but is instead exploring ideas of “re-shaping” current commission structures.
In contrast to Westpac, which announced commission cuts earlier this month, NAB Broker regional general manager Matt Lawler said NAB was “more in the space of re-shaping remuneration rather than just cutting”, The Australian reported today.
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According to the daily, NAB is looking to broaden the role of mortgage brokers to wider financial advisers and will also look to reward brokers that cross-sell other NAB products.
More details to come.
Published: 28-04-08
