QED's Perspective: What to Make of the Best Interests Obligation
As you are no doubt aware, late last month ASIC finally released its Regulatory Guide RG273: Mort...
Pursuit Broker Services
An alternative solution for Brokers who want the freedom to operate their business their own way, however are not looking to obtain their own Australian Credit Licence.
What makes Pursuit Broker Services different
We are not an aggregator or sub-aggregator.
You're free to choose.
We don't have a financial interest in your business -
You maintain control.
The only Australian Credit Licensee that offers this alternative for Credit Reps.
Why choose to become a Credit Representative with Pursuit Broker Services?
1Any Aggregator: choose your own lane!
We are flexible in terms of how you choose to conduct your broking business. You can choose whom you aggregate through without being tied in! What this means for you is:
- We are more flexible than aggregators - we do have rules for our Licence, but they are open to discussion.
- We don't have an army of lawyers telling us what to do - we understand your business and that you might want to do things in a different way.
2No Lender Panel: overcome the hurdles!
With Pursuit Broker Services, you are free to choose what lenders you use, as long as you are compliant with the Responsible Lending Obligations - the complaints we hear from brokers about aggregators are that they are too prescriptive and won't let you go off panel!
3No Commission splits: set your own pace!
We are not interested in commissions or any sort of share of your income. What you pay us is a flat monthly fee for our compliance services.
4Compliance Support: the only contender!
When it comes to practical NCCP compliance support there is no one in the industry that understands and delivers practical NCCP solutions like QED's Pursuit Broker Services. We are the experts on covering compliance 'the easy way'. Our Credit Representatives use our easy compliance tool - QED CompliFast. It's simple and is the fastest way to comply so you can get on with writing business.
5Quick turn-around time to appoint.
It takes only 5 working days from receiving your supporting documentation.
6Reasonable Fees
Pursuit Broker Services' fees are reasonable and less expensive than aggregators - only $135 per month plus $300 application fee.
What our clients say
"QED Risk Services (Pursuit Broker Services) process around on-boarding new credit representatives is smooth and efficient. The turnaround time of issuing a brokers application to QED and the registration with ASIC is very quick. They have a dedicated team who answer any queries promptly and will go the extra mile to help out when required."
Tracy Coupe
Operational Support
Officer Nectar Mortgages
""As a credit representative, using Pursuit Broker Services makes sense. I can always ensure I can provide the right finance solution for my client (i.e. even if the lender is not on my aggregator's panel). And, I keep on top of my compliance obligations through utilisation of the CompliFast tools and regular updates and feedback from the Pursuit team.""
Mark Ambrose
Annum
What's new
ASIC Draft Regulatory Guide released on Best Interests Obligation: Will you be looking for a new career post July 1?
Best Interests obligation The Royal Commission recommended that mortgage brokers be required t...