Transferring Loan Books

The Transferring Loan Books process is used when a Broker decides to leave Connective or sell their Trail Book to another Broker within Connective, or to another Aggregator.

There is a $300+GST fee for this transfer which will be automatically billed or deducted from the destination company.

Transferring Loan accounts from one Partner group to another

This process is followed when a Broker decides to leave as a Full Member to be active under their own Member Agreementwith Connective:

1. The Principle Owner emails comms@connective.com.au with an enquiry to Transfer Loan Books.
2. The Commissions Team send an Assignment Agreement to the requesting party to sign and return with instructions on transferring either the whole Trail Book or specific Loan Accounts. If there are multiple Principal Owners, then they must all sign the Assignment Agreement.
3. The Commissions Team transfer accounts upon receipt of these documents and approval from a Connective Director.

Transferring Externally (Partner selling to a 3^rd party)

This process is followed when a Broker decides to sell their Trail Book to a Broker that is accredited with a different Aggregator:

1. The Principle Owner emails comms@connective.com.au with an enquiry to Transfer Loan Books.
2. The Principle Owner submits a Letter of Authority signed by all Principal Owners to transfer Loan Books with a supplied list of deals.
3. To transfer the accounts, the Assignee needs to contact their Aggregator to organise.
4. The Aggregator needs to contact Connective who will release Authorisation Letters for each Lender upon approval from a Connective Director.

Transferring Externally (Partner leaving Connective)

This process is followed when a Broker decides to leave Connective and becomes a full member with a new Aggregator:

1. The Principle Owner must contact the Broker's new Aggregator to organise the transfer.
2. A Letter of Consent must be provided by the Principle Owner of the partner group and sent to comms@connective.com.au
3. The new Aggregator must contact Connective who will release Authorisation Letters for each lender.
4. The new Aggregator will then proceed with the remainder of the transfer.

NOTE: If the transfer also includes data/contacts/CRM, please refer to the following article: 

Data Transfer - Breakaways Transferring Partial Data to another Mercury CRM