An exclusive preview from our forthcoming Brokers on Aggregators survey.
Results from MPA's latest Brokers on Aggregators survey reveal clawback/trail issues as one of the major obstacles for brokers wanting to leave their aggregator.
Almost half of all brokers (48%) felt the main obstacles to leaving their current aggregator were clawback/trail issues and contractual obligations.
“Inability to transfer trailers … is a major issue in this industry, particularly when considered again in comparison to financial planning," said a Connective broker.
The survey, which will appear in MPA's May issue, asked hundreds of brokers to to comment on their relationship with their aggregator, including reasons for leaving, and obstacles to doing so.
Data migration/IT issues' was also considered a major obstacle, nominated by 30% of respondents.
IT issues have been a consistent restriction for brokers, with last year’s survey results showing data migration/IT issues were picked by 31% of respondents.
The data suggests that IT issues are more of a powerful deterrent to brokers switching, rather than an obstacle.
For those brokers unlikely or very unlikely to leave their aggregators in the next 12 months (the majority), data migration/IT issues were seen as the chief obstacle to leaving.
Read the results in full in MPA's 15.05 issue, on desks next week, where brokers reveal what they want more of, what's good and what isn't and how they rate individual aggregators.