Aggregator Commission (also known as Volume Bonus/VBI) is a commission paid to Connective by Asset Finance lenders. It is typically based on the total of all settlements in a month by all Connective accredited brokers.

Connective shares it's commission with brokers whose own volume of settlements in the month, across all Asset Finance lenders, reaches certain thresholds.

Aggregator Commission is not applicable to QuickAF deals, and QuickAF deals are not included in the Sharing Thresholds.

The level of commission paid varies across lenders, products and months. This variability, plus, Connective's agreements with the lenders mean that we cannot publish a list of the rates and plans.

Most lenders pay a percentage of the settled volume. Typically, the rate paid to Connective varies between 0.4% and 2.5%. The average is approximately 1%.

Some lenders pay a fixed 'Aggregator Fee' based on the product/deal (e.g. Plenti). Connective shares these fees in the same way as volume-based commissions.

The main reasons for varying rates are:

Connective shares it's Aggregator Commission with brokers based on their total volume across all Asset Finance lenders in each month.

The Broker Share is a monthly fixed percentage of the Aggregator Commission received on the loans that they wrote. The percentage is determined by the following thresholds:

All rates are applied 'from dollar one', meaning that the rate applies to all deals in the month, not just amounts above the threshold.

The thresholds are applied to all deals written by a broker group, not to individual loan writers. So if two loan writers in the same Parter Group write $700,000 each, the commissions share will be 65% (based on settlements of $1,400,000).

The determined percentage will be applied on a deal-by-deal basis to the actual commission received from the lender. This means that where lenders pay higher/lower commission rates, the broker share reflects this, and that the rate received by the broker will vary by deal.

Most lenders pay Aggregator Commission monthly in arrears, although some pay quarterly (notably, Prospa and OnDeck). Connective aims to process and pay each month's commission prior to the end of the month following settlement. This means that the broker commission share for March deals should be paid before the end of April.

Payment is usually made in the last few working days of the month.

Aggregator Commission RCTI's are sent via email on payment, and neither the RCTI's nor historic statements/information are currently available in Mercury. To obtain copies of RCTI's or details of historic payment, please raise a commission query via the Mercury Help function, or by emailing [email protected].

Most commission is received, processed and paid in the month after settlement but sometimes there may be delays or adjustments. If late adjustments to a broker's monthly settlements result moving them to a different sharing threshold, an adjustment will be made to the VBI on all deals for the month.

Connective attempts to pre-emptively query missing deals where we are aware of the settlement (e.g. because the brokerage was invoiced via Mercury) but where a broker has dealt directly with the lender we typically have no information to help us do this. If a deal is missing from your monthly RCTI please raise a commission query via the Mercury Help function, or by emailing [email protected].

Some lenders claw back Aggregator Commission if a deal defaults or is repaid early. Where a broker has received a share of an Aggregator Commission that is clawed back, Connective will claw back an amount proportional to what was paid. This means that if 50% of the Aggregator Commission is clawed back, Connective will clawback 50% of the amount paid to the broker.