SETTING UP A REFERRER
When using a referrer, Oxcel Members must ensure they understand their obligations and adhere to relevant policy.
For updated information on referrer use refer to the Oxcel Member Management Manual which is available in Infynity under Education > E-Learning > Compliance > Oxcel Member Management Manual.
The first step to take when on-boarding a Referrer is to formalise a Referral Agreement. To assist with this process, all Infynity users can access a Referrer Agreement template in the Compliance documents folder, found in the Document Library section (access via the Resources menu)
Open the referrer agreement document and edit all the required fields and have it signed as required.
Referrer Register
Once the agreement has been finalised, you will need to create the Referrer in Infynity.
It is a Oxcel requirement that all referrers are updated in the Referral Register. This can be done in our Referrers section, which is found via the Admin menu, and then selecting 'Add Referrer' in the top right of the screen.
Complete the Referrer’s details, paying special attention to the account name, account details and commissions split values to ensure that the referrer is set up correctly in Infynity. You can also create Multilevel and Group Referrers. All fields should be completed, then save changes.
Upload the fully completed and signed referrer agreement using the ‘’attach’’ function. This will save the referrer agreement to the register.
Activating the Referrer Module
(1) By activating the “referrer module” within the referrer set up, an email is automatically sent to the referrer with a link and logon details.
Your referrer will have access to view the status of the referred client. There is also the ability for the referrer to create a new lead referral through this access.
(2) If the referrer has forgotten their password, as the broker you can reset the password for them by using the “password reset” option via the referrer register set up screen, as outlined above.
Adding Referrers to Client Accounts
Referrer information needs to be added to new client account and the SOCA.
Click on Manage Account, select client name
Go to Overview tab >> Referrer, click edit
Complete the referrer selection from the drop down options
Click ‘’save referrer’’
Adding Referrers to SOCA
You will need to make sure that the referrer is added within the SOCA.
Within Loans & Products >> SOCA
Complete the Commissions/Conflict of Interest tab >> Referrer Type and Referrer
Adding Referrers to the loan application
You will need to make sure that any commission splits are added to the loan application page. Use the “edit” function to enter your referrer details for each application. This will ensure that the commission split is paid correctly once the loan settles.
Payment of Commissions to the Referrer
A referrer that you have added to an application will only be tagged on the loan ID (hence paid) if the lender payment data is successfully matched to the specific application that you have added the referrer to. The matching can fail for many reasons and is outside of your or Oxcel control. The most common causes of non-matching are:
Non-Exact Match between client name(s)
Non-Exact Match to loan amount
Non-Exact Match to settlement date
When our system cannot make an exact match, a referrer is not tagged to the loan ID hence no referrer is automatically paid.
You can use your Commission Dashboard to see if a payment will be split with a referrer. If no referrer is showing for the payment on your Dashboard, you can "Edit" the payment on your Dashboard and add the referrer. As long as you add the referrer on your Dashboard before payments are processed at the end of the month, your referrer will be paid on your behalf by Oxcel.
Disclaimer: This information is current as at the time of each QRG publication. It is a general information guide only.