Synchron has signed a mortgage and finance referral deal with NAB-owned Advantedge, to lift its advisers’ revenues when commissions are cut under forthcoming industry reforms.

Director Don Trapnell says no matter how advisers view the reforms, they will suffer a loss of income after July 1.

“We know at any point in time, one in seven consumers is reconsidering their mortgage and finance arrangements,” he said.

“We believe it is appropriate that Synchron advisers be afforded the opportunity to satisfy that need by referring clients to a licensed finance broker and be remunerated for it.”

The dealer group has also introduced a new software package to reduce advisers’ workloads.

The tool, called SyncAdvsr, will automatically generate fee disclosure statements and opt-in notices. These will be monitored by the software, which also includes business analytic metrics to group commissions and fees paid to the adviser.

SyncAdvsr will automatically calculate and produce commission and fee-split statements for referral sources such as accountants, general insurance brokers and finance brokers.

“As such, we have made SyncAdvsr available to every Synchron advice business as part of our suite of services,” Mr Trapnell said.

“We expect it to not only improve business efficiencies, but to also help advisers with client engagement and ongoing client relationships.”