Login
ISCOVER
James Mitchell
Brokers should ensure they are operating properly under the NCCP Act to retain their positive public image, one industry stakeholder has warned.
To continue reading the rest of this article, please log in.
Looking for more benefits? Become a Premium Member.
Create free account to get unlimited news articles and more!
Looking for more benefits? Become a Premium Member.
Speaking to The Adviser, Connective principal Mark Haron said that if brokers and aggregators don’t keep up with compliance the industry will end up with a very negative public image.
“As ASIC starts to look at some broker and aggregator businesses a lot more closely and find systemic issues with regards to clients, and as they publicly name and shame brokers and other operators in the industry, it could draw unwanted negative publicity,” he said.
“People just need to get on and do what they have to do and should be doing and we will grow our market share considerably.”
According to the latest JP Morgan/Fujitsu Australian Mortgage Industry Report, brokers now hold a 41 per cent share of the market, up from the 35 per cent recorded during the GFC.
