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Jessica Darnbrough
Homeside has revealed that there has been a surge in the number of brokers that are now receiving a 35 basis point trail commission.
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Speaking to The Adviser, NAB Broker's general manager distribution John Flavell said the lender's ramped trail program was now celebrating its fifth birthday, allowing some brokers to receive the top trail payment.
"When brokers look at their commission statements this month they will see that some of their customer relationships are now paying 35 basis points trail," he said.
"In our estimates, every day, 300 to 400 broker/customer relationships mature and go to the next level in terms of our ramped trail.
"It is a positive for brokers, their customers and Homeside as well."
Indeed, Homeside's ramped trail has proven incredibly successful for the lender, with brokers ranking the bank first in terms of both remuneration and commission structure in the most recent The Adviser's Third Party Banking Report – Major Lenders.
According to the report, Homeside managed to record not only the highest broker satisfaction rating of all the lenders, but the biggest increase in broker satisfaction as well, with the lender improving its ranking by 0.49 – taking its score to 3.57.
Homeside's ramped trail program has gained a lot of support over the years as brokers are increasingly rewarded for keeping their client with the bank.
