The initiative, which is due to begin in January, will be available to members who have signed and returned their new AR agreement. It will take place every Tuesday, in addition to the existing commission run on Thursdays.
A spokeswoman said the network wanted to show its commitment to members: “By having more cost-effective technology, streamlined systems and using electronic rather than paper-based administration, the members get all the benefits of being paid faster and more frequently.”
Under the Thursday commission run, brokers must submit their request for payment by 3pm. The commission team submit BACS payments on a Friday and the brokers receive payment on the following Tuesday. The second commission run will allow brokers who submit requests on a Tuesday to receive their payment by Friday.
As part of the shake-up, Personal Touch will no longer accept requests to prioritise payments, and there will no longer be a small additional run on a Friday for those who missed the Thursday deadline.
Statements will no longer be posted and instead will only be available electronically.
