TCF Debt Solutions revamps commission structure
The intermediary-focussed debt solutions provider will now pay either the equivalent of up to 100% of the client’s first monthly payment on debt management plans when brokers introduce 5 cases per month (75% on 1 to 4 cases per month) or, alternatively, 50% upfront and a regular monthly trail commission of 15% for the life of the agreement.
TCF Debt Solutions, which offers brokers a full client referral service on debt management plans, IVAs and assisted bankruptcy, says that they want to incentivise intermediaries to do more proactively and go back through their client banks to find clients who are struggling with debt.
Andy Moody, managing director of TCF Debt Solutions, commented, “ We want to try to get more brokers to see that actively talking to existing clients about their current circumstances is not only a good way to keep in touch and maintain a good relationship but could make a huge difference to clients who are actually in real financial trouble. By introducing TCF Debt Solutions to their clients, not only can they be seen to be helping their clients but also develop and build a useful income.”