Superbrokers 2009

Superbrokers 2009

MorCan Financial

Number of agents: 150
Established: 1997
Compensation
- Commission splits not specifi ed but described as "aggressive" and based on volume thresholds
- Agent's split affects all volume bonuses in accordance with the compensation package offered at the time agent joins
- If someone leaves the company, the trailer fees follow contractually
Brokering Model
- Franchise opportunities available
- There is no franchise cost to the broker who opens up a branch office
- Require that agents sign and adhere to the Morcan. Code of conduct and regulatory body in the provinces in which they operate their business
- Operate in Atlantic Canada, Ontario and Manitoba. Expect to launch in Alberta and B.C. by year-end
Ancillary Service
- Leasing program
- Centralized underwriting
- Alternate Financing Solutions program
- Journaling and best practice forum
- Morcan creditor insurance
Lead Generation
- Brokers/Agents generate own business
Compliance
- All staff and brokers/agents must be fully compliant and adhere to provincial regulations
Payroll
- Upon receipt of an audited, completed file and receipt of the finder's fee from the lender, agent will be paid electronically into their account every two weeks.
- Process also applies to all volume bonus payments and trailer fees. Payment must be received by the lender five business days before the pay day.

Next page: Dominion Lending Centres


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