Purple Circle aggregation is the mortgage-broking service of Purple Circle Financial Services, with lender-panel access, broker support and a member-share proposition. Its Salestrekker workflow handles the deal process. The membership agreement and any share offer determine what you pay and which rights you receive.
Purple Circle Financial Services
Purple Circle Financial Services is an Australian broker aggregation business. Here, Purple Circle means that finance business, rather than the general expression or an unrelated organisation.
Its privacy policy names Purple Circle Financial Services Pty Ltd as the licensee, with Australian credit licence 486112. The Mortgage and Finance Association of Australia (MFAA) also lists it in its aggregator directory. A directory listing identifies an aggregation option. It does not decide whether that arrangement suits your brokerage.
The broker model includes arrangements for brokers holding their own Australian credit licence and for credit representatives. Compare the licence arrangement you need with the services and responsibilities in your proposed agreement.
Membership and Any Ownership Offer
Purple Circle’s membership page promotes the ability for brokers to earn shares through their broking activity. Treat access to aggregation services and the terms of any share allocation as separate parts of the joining decision.
Membership gives you the services specified in your broker agreement. Equity ownership is a holding in the company, governed by the share documents. Voting rights depend on the share class and company rules. Input through a member group can differ from a shareholder vote.
For any share offer, obtain the offer documents and the company’s constitution before relying on the ownership proposition. Identify the qualification rules, allocation timing and share class. Read how voting works and what happens to the shares when you leave. A shareholding does not guarantee a dividend or a buyer when you want to sell.
Panel Access and Broker Support
Purple Circle publishes lending categories covering residential and commercial loans, asset finance and consumer finance. Its lender-panel document separates residential and commercial lenders from plant, equipment, motor and personal finance providers. Assess the actual lenders and restrictions relevant to your clients.
Panel membership and your personal lender accreditation are different. Purple Circle hosts lender accreditation forms, including a NAB form that requests licensing details, identification and industry-body membership. Mentor information is required where applicable. Complete the relevant lender’s process before treating that lender as available to you.
Purple Circle describes lender-policy and deal support among its broker services. Use that support to resolve a scenario’s policy question before preparing an application. During joining discussions, establish who handles accreditation transfers and where you send a difficult deal for assistance.
For the wider choice between smaller networks, compare Australian sub-aggregators alongside your required lending categories.
The Salestrekker Broker Workflow
Purple Circle’s branded Salestrekker 2.0 getting-started guide documents its use of that platform for broker setup and a test deal. The guide takes a training file from client information through product comparison and compliance documents.
Follow this sequence through the training file:
- Set up your account and review the training material supplied through the member portal.
- Create the training deal and enter its client information, financial position and borrowing needs.
- Add the property security and complete the funding worksheet for each scenario.
- Search and compare products, then review commission information and prepare the compliance comments and documents.
- Review the deal summary and send the training file to your mentor where the onboarding process requires it.
Use the guide’s fictional clients for training. Completing the test deal does not submit a real application or establish lender approval. The onboarding guide explains a workflow, while your membership terms determine the software access included in your arrangement.
Our Salestrekker guide explains the platform’s role beyond the Purple Circle joining process.
Assessing Fees and Member Rights
Purple Circle’s membership page describes flat-fee, percentage-split and hybrid fee structures. Compare the written quote using your expected settlements and existing trail, because each structure changes the amount your business retains.
Request the following terms before signing:
- The fixed aggregation charge, commission split and GST treatment, with software and licence costs itemised.
- How upfront and trail are calculated and paid, including deductions, referral splits and clawback responsibilities.
- Any minimum volume, contract term and fee-review provisions.
- Notice periods, exit charges and the treatment of trail after departure or a book sale.
- Client-data export access and the documents governing any shares, voting rights and transfer restrictions.
Calculate expected commission after the proposed deductions, then subtract the fixed costs. Keep a possible shareholder distribution separate from commission income. Its timing and amount depend on the company’s decisions and your share rights.
Purple Circle reviews can help you frame questions about support. A review or ownership statement cannot establish your net earnings. Your settlement mix, book runoff and contractual deductions decide that calculation.
Track My Trail With Purple Circle Reports
Purple Circle brokers can use Track My Trail through the Generic CSV template or PDF to CSV. The upload handbook directs unlisted aggregators to Generic, with the template and preparation guide available after sign-in during a trial or subscription.
Prepare each month’s commission rows in the Generic CSV template, keeping loan references consistent between months. If your statement is a PDF, use PDF to CSV, check the converted rows and prepare the download for analysis. Keep member-owner dividends and other shareholder distributions out of the trail file. They are investment distributions, not loan commission payments.
Upload two monthly reports for Quick Analysis. We show which clients were added, which dropped off and how those changes affected your trail. That gives you a starting point when your Purple Circle income changes unexpectedly.
With opt-in Trail History, Missing Trail Analysis identifies trail that stopped and later returned, separately from discharged loans. You can raise a payment gap with Purple Circle using the affected loan and missing months. PDF to CSV also turns a statement into rows you can check, and deletes both files after 24 hours.
See all supported aggregator report routes if your brokerage uses another aggregation arrangement as well.
Get started for free with a 7-day free trial. No credit card.
Purple Circle FAQ
I’m a Purple Circle Broker. Can I Use Track My Trail?
Yes, you can use the Generic CSV template or PDF to CSV for Purple Circle commission statements. Prepare two monthly reports for Quick Analysis. Use the handbook’s Generic instructions to access the template after sign-in.
Is Purple Circle Broker-Owned, and What Does That Change for a Member?
Purple Circle describes its model as broker-owned and promotes member shares. Any equity you receive and its voting rights depend on the offer documents. Membership access is governed by your broker agreement. Read both sets of terms to understand your rights while a member and after departure.
