What are the costs involved?
There are no initial or ongoing fees associated with Sports Growth’s Referral Partners Program.
Do I need formal training or accreditation?
There are no formal training, reporting or accreditation requirements for clients of Sports Growth. Our services are 100% referral based and therefore by referring your clients to licensed professionals all licensing and accreditation requirements are the responsibility of the parties making formal recommendations to your clients. Our belief is that a referral based relationship will provide further value for your business as the legislative requirements on the finance broker industry undoubtedly becomes more onerous.
Are all commissions disclosed to relevant parties?
It is a legislative requirement that all commissions payable to third parties are disclosed. Commission is disclosed on two levels: Firstly, all gross commissions payable under contract from the banks to Sports Growth is disclosed in the lender’s loan offer document to the client. Secondly, as the referrer, you are required to disclose to your client that you will receive a commission from Sports Growth at the initial stage the transaction.
Are my clients dealing with licensed professionals?
A strength of our referral model is the ability for business professionals to deal directly with licensed lending and property professionals, and retain full ownership of the client throughout all stages of the transaction and thereafter. Unlike a broker associated transaction, you retain full control of the process and ensure that your clients obtain independent advice regardless of the level of commission being paid to a third party.
How am I remunerated?
Sports Growth manages all commission reconciliation on your behalf with net commissions deposited to your nominated account prior to the 30th of each month. In addition, recipient created tax invoices and client portfolio statements are forwarded to your office each month to assist with administration and financial recording of this service.