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That's exactly right. The good ones always get promoted (which is great) but it leaves their customers in the lurch.

Marty - maybe the correct analogy is - people who work at Big 4 banks are the car salesman for the dealers, and brokers are the guys who work at the second hand car yards?

I heard from an ex-CBA employee that the easy way to overcome that is to just refinance broker-originated CBA loans as this counts as new business.

Look at the stats. I would say the average broker and banker gets paid roughly the same - $60,000-$70,000. The thing is the exceptional brokers get paid far more because it is a business where the sky is the limit. As others have said brokers get about 0.65% upfront commission and 0.15% trail.

It is a major regional bank though so that's a lot different to $20m for say a CBA.