A Perth broker has switched aggregators as part of a long-term strategy to grow its loan book and recruit more young blood.
Let’s Finance has nine brokers on its books who write about $30 million in loans per month, general manager Scott McCartney said.
Another three to six brokers are expected to join in the next 18 months, he added.
Mr McCartney told The Adviser that a key reason Let’s Finance linked with Vow in January was because of the aggregator’s “eagerness to help us grow”.
The firm wants to secure its long-term future by hiring more young brokers, and Let’s Finance plans to put together a broker development program with Vow’s help, he said.
“Trying to find young people that want to get into broking is hard and the fact they can help us do that was part of the reason we made the move,” he said.
“You want someone who’s young and hungry and to whom you can offer a career path with a really great lifestyle.”
Let’s Finance is the broking arm of residential building outfit Scott Park Group. The group sells 1,000 homes per year, generating 40 to 50 leads for the brokers, said Mr McCartney.
Some of those leads are for twenty-something first home buyers who are best serviced by young brokers, he said.
Mr McCartney said Let’s Finance was also attracted to Vow because of its fixed price model and its software platform.
Vow chief executive Tim Brown said the aggregator was keen to help Let’s Finance grow.
“We see a big opportunity for Vow’s further expansion into Western Australia under the partnership with Let’s Finance,” he told The Adviser.