Login
ISCOVER
The Advantedge Group has strengthened its position in the white labelling space with the launch of a new branded insurance solution.
Advantedge has significantly increased its white labelled mortgage volumes in recent months via its own aggregation groups PLAN Australia, Choice and FAST as well as other brokerages that use its funding for their own products.
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.
Today’s announcement highlights the group’s commitment to white labelling and help its broker partners boost potential revenue.
Speaking about the program launch, head of Advantedge Financial Solutions Craig Saville, said the solution, respectively called PLAN Loan Protect, Choice Protect and FAST Protect, shows not only the evolution of the industry but also the capabilities of Advantedge to capitalise on market change.
“We’re in a completely different space now – NCCP has transformed the market forever. Yes, integration to the new license regime is serving up challenges for brokers but the opportunities far outweigh the drawbacks. The shift to responsible lending is rapidly ushering in a more professional broker and an industry of greater credibility – this is one of the biggest opportunities brokers have had to grow their business in years,” Mr Saville said.
In meeting licensing obligations brokers are required to gain a holistic view of a client’s financial situation and, according to Mr Saville, this opens up opportunity to deliver a broader suite of solutions.
“Offering insurance is the natural evolution for brokers, and we’ve now armed our aggregator partners with the products, tools and support to offer a branded proposition backed by strong serviceability and financial security. Through offering a broader range of products, brokers can realise increased revenue, greater business value and importantly the higher propensity for clients to stay with brokers over the long term.”
Brokers can choose to receive one of two commission payment structures of 40 per cent year end of the paid premium and 12 per cent trail or 17.6 per cent year one and trail (for level premiums) and 13.6 per cent year one and trail (for stepped premiums).
