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Equity stake offer causes aggregator to double in size

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Equity stake offer causes aggregator to double in size

James Mitchell 2 minute read

A mortgage aggregation group claims to have doubled its monthly settlement volumes and recruited an additional 90 brokers over the past 12 months.

Custom Equity Group says it has experienced significant growth this year, with the aggregator’s chief executive David Haythorn pointing to the opportunity for brokers to hold an equity stake in the business as a key driver to its success.

“Uniquely everyone in the business is a broker including our chairman, the board and senior management team,” Mr Haythorn said.

Speaking to The Adviser, Mr Haythorn said many brokers have left their existing aggregator to join Custom.

“We are getting a lot of people leaving their current aggregator to come across to us,” he said. “They are often people with quite established businesses, but the appeal of the equity stake seems to make it attractive to them.”

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Mr Haythorn, a founding partner of Your Broker and Nectar Mortgages, joined Custom late last year after a successful career with some of Australia’s largest real estate groups, where he was instrumental in establishing home loan businesses.

His experience developing referral relationships between brokers and agents has been central to Custom’s technology offering.

“We do it well because we built a technology piece that allows the referral to be done very efficiently without a lot of people interaction.

“We have done a lot of work building our CRM technology referral system. It is a central part of the business,” he said.

Over the next 12 months Custom plans to further invest in digital and social media and continue to develop its own unique CRM system.

[Related: Insight – David Haythorn, Custom Equity Group]

Equity stake offer causes aggregator to double in size
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James Mitchell

James Mitchell

James Mitchell has over eight years’ experience as a financial reporter and is the editor of Wealth and Wellness at Momentum Media.

He has a sound pedigree to cover the business of mortgages and the converging financial services sector having reported for leading finance titles InvestorDaily, InvestorWeekly, Accountants Daily, ifa, Mortgage Business, Residential Property Manager, Real Estate Business, SMSF Adviser, Smart Property Investment, and The Adviser.

He has also been published in The Daily Telegraph and contributed online to FST Media and Mergermarket, part of the Financial Times Group.

James holds a BA (Hons) in English Literature and an MA in Journalism.

 

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