Powered by MOMENTUM MEDIA
the adviser logo
Aggregator

Aggregator reaches extraordinary milestone

by Staff Reporter7 minute read

AFG has grown its loan book to $100 billion after recently celebrating 20 years in business.

The aggregator has also forecast revenues of more than $500 million for this financial year.

AFG said it processes $4.5 billion in loan finance each month from its 2,100 brokers.

It also claims to handle about 12 per cent of all new home loans in Australia and to have a loan book 50 per cent larger than any other aggregator.

==
==

The company was formed in 1994 by four Perth friends and began in a rented Subiaco office.

It is now a diversified financial services business with an annual wages bill of $23 million, according to founding partner and managing director Brett McKeon.

"We have a successful and growing property business with $300 million of projects underway [and] a growing securitisation arm with over $1 billion in assets that is supported by a treasury department that has issued close to $900 million in residential mortgage-backed securities to global markets over the past 20 months," he said.

"AFG is also a property development manager and this part of the business is thriving."

[Related: AFG warns inquiry against scrapping commissions]

default
magazine
Read the latest issue of The Adviser magazine!
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Read more