Vow Financial signed an agreement this week with innovative group My Local Broker as part of an aggregation deal.
My Local Broker (part of My Local Group) is a disruptive and technology-driven retail and aggregation platform set to be launched in April 2016. The Melbourne-based business is founded and owned by former mortgage broker and BDM Jaci Smith and has significant financial backing from Gerry Ryan, a BRW Rich Lister for many years and owner of caravan manufacturer Jayco Australia.
Commenting on the new partnership, Vow financial chief executive Tim Brown said obvious synergies existed between the two companies.
“Vow works hard to challenge the industry norm and provide more to our brokers and their customers,” Mr Brown said.
“My Local Broker has a similar mindset and we believe we can work well together to help them hit their targets.
“Prior to launch they already have 80 brokers in the pipeline and are looking to have 450 brokers in their first 12 months of operation. We are excited to be partnering with them to provide the accreditation and support needed to launch their exciting new business.”
My Local Broker's CEO Ms Smith said the group was delighted to be working with Vow Financial.
“They were chosen because they are highly accommodating to our needs and are an incredibly nimble group,” Ms Smith said.
“It’s a mutually beneficial partnership and we’re genuinely excited about what that will bring.”
[Related: Vow appoints new broker mentor]