Understanding how your aggregator fees and commissions are structured is key to maximising your earnings and making sure you get the best deal possible as a broker.
Whether you’re new to the industry or a seasoned professional, knowing the ins and outs of your commission structure can make a significant difference to your income.
Let’s break down AFG’s fees and commission rate schedule to help you choose the right mortgage aggregator and make sure you are fairly compensated for your work.
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AFG offers a range of fee categories to support your business needs:
Compliance Fee: $180 per month for compliance support.
Veda Fee: Varies based on the number of credit checks performed.
PI Insurance: $137.50 per month for professional indemnity insurance (may vary depending on your brokerage firm’s needs)
SMART Core Program: $155 per month for comprehensive marketing to your residential database.
Haven Program: $45 per quarter for additional marketing services, added to the SMART Core Program fee once per quarter.
Business SMART Add-On: $55 additional per month for marketing to SME clients and lead generation.
Commercial SMART Add-On: $55 additional per month for marketing to active commercial customers.
Many of these fees are optional add-ons, so your total monthly fee will depend on your specific business requirements and marketing strategies.
Using a tool like Track My Trail can help you analyse your expenses and decide which options are most beneficial for your business.
Fee Category
Cost [per month]
Description
Notes
Compliance Fee
$180
Compliance fee invoice.
Fixed monthly fee
Veda Fee
Varies
Credit check fee.
Final fee depends on the number of checks performed each month.
PI Insurance
$137.50
Market to your SME clients and generate leads from your residential database.
Fixed monthly fee. This may vary depending on your brokerage.
SMART Core Program
$155
Marketing to your residential database.
Optional Add on. Fixed monthly fee.
Haven Program
$45 [per quarter]
Quarterly fee for additional marketing services.
Optional Add-on. Added to the SMART Core Program fee once per quarter, making the monthly fee $200 for that month.
Business SMART
$55
Market to your SME clients and generate leads from your residential database.
Optional Add-on. Fixed monthly fee.
Commercial SMART
$55
Marketing to your active commercial customers with deals written in Flex.
Optional Add-on. Fixed monthly fee.
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While reasonable steps have been taken in the preparation of this summary information, there is a possibility of errors and information should be verified with the aggregator and lender.
If you think any of AFG’s fees, upfront, or trail commissions might be incorrect, please contact us and let us know.
Track My Trail Team
The Track My Trail Team develops software to simplify trail book management for mortgage brokers. Their tools provide fast and practical insights to help brokers get the most out of their trail books.