Advance payment preferences overview

We understand how important cashflow is to your business, so you’ve got the option to receive advance instalments against your upcoming monthly commission payment. 

If you choose to receive the advance payments, it won’t affect the total amount of commission you receive or your splits – this is all about timing of payment. Also, your payees and referrers will continue to be paid at the end of each month as normal. 

You can see the full payment schedule here  

Your payees and referrers will continue to be paid at the end of the month as normal. 

How do I opt in to receive advance payments? 

To Opt in, you must be a Principle Owner.

 Log into the new Mercury platform, using your CA number, here: https://apps.connective.com.au/ 

1. Click on the Membership Centre icon 
2. Click on Advance payment preferences  
3. Check the box to opt in  
4. Agree to the terms and conditions 

How does it work? 

As an example, if you’ve have earned $10,000 in upfront commission, you could elect to receive advance instalments of $2,000 and $3,500, with the balance of $4,500 paid in the main payment batch at the end of the month. 

How much can I elect to receive in advance? 

 The instalment amount available is calculated by reference to the amount of upfront commission we’ve received for loans you have settled, and by reference your average payee splits (if applicable).  

 What if don’t have any payees? 

 If you’re on a Maximiser plan, the amount available for advance payment will be up to 100% of the value of upfront commission we have already received that would otherwise be payable to you at the end of the month. 
If you’re on a Variable plan, the amount is up to 80% of the value upfront commission we have already received that would otherwise be payable to you at the end of the month. 
 

What if I have payees? 

Your advance instalments will be based on how much you usually split to payees. So, if you normally split 25% of your upfront commission to payees, your available amount will be 75% of the upfront commission that would otherwise be payable to you at the end of the month. 

Can I make advance payments to payees? 

No, any advance payment can only be made to the bank account of the Connective member. 

Who is eligible?  

All Connective full members can opt in to receive advance payments.  

 If you opt in, you are agreeing on behalf of your whole business and the advance instalments will be paid to the partner group.  

Examples  

Here’s a simple worked example for a group with payee splits. 

In this example, the broker’s average splits in previous months were 40%, so the Instalment Percentage was 60% (100% - 40%). 

The actual payee splits in the example were 35%. 

This example ignores trail commission, which would be paid as normal. 

A broker who did opt into receive instalments would receive three payments, throughout the month, adding up to $6,500. The $3,500 payee splits would be paid at the same time as the Main Commission Batch. 

In this example, a broker who did not opt for instalments receive one payment of $6,500 at the end of the month, and their $3,500 payee splits would be paid at the same time.