The leading brokerages in Australia have been revealed in The Adviser’s Top 25 Brokerages 2022 ranking, partnered by NAB.
The Adviser’s Top 25 Brokerages ranking, partnered by NAB, is based on figures from the 2021 financial year. It is determined by scores in six key areas:
- Total book size
- Total loans settled in FY21
- Total volume of loans settled in FY21
- Book size versus years in business
- Total number of brokers and average broker volumes for FY21 (i.e. volume numbers divided by actual number of brokers)
These six scores were then combined to give a final overall score. The lower the score, the better the ranking.
This content is available exclusively to
The Adviser premium members.
Coming in first this year was Loan Market, taking the winner’s mantle from major franchise brokerage Aussie.
While Loan Market welcomed aggregation groups Choice, FAST and PLAN Australia into the group during FY21, the figures for Loan Market only include franchise brokers*. Similarly, the Aussie figures only include Aussie broker numbers (not Lendi numbers).
In fact, all of the top five brokerages in the ranking have been through some kind of merger or acquisition in recent months, as the broking industry as a whole went through major consolidation in 2021.
In third place was Mortgage Choice (which joined the REA Group’s financial services business in FY22), while Smartline placed fourth. Given that Smartline is now subsuming under the Mortgage Choice brand, the 2022 ranking marks the final year in which Smartline will appear.
MoneyQuest, which acquired sub-aggregation group Buyers Choice earlier this financial year, rounded out the top five.
“The mortgage and finance broking industry continues to grow and evolve, with large groups and brands merging to form ‘super groups’ and external players looking to acquire these hugely successful brokerages,” editor Annie Kane commented.
“After a record year for mortgage activity in the financial year 2021 – and loan levels continuing to smash records – this year’s Top 25 Brokerages ranking demonstrates just how busy brokers have been. It’s impressive to see how total volumes written and broker productivity has skyrocketed on previous rankings.
“The stats reflect a broader industry trend: brokers are writing record levels of home loans.
“On behalf of The Adviser, I’d like to congratulate all of the brokerages who made it into the Top 25 Brokerages ranking this year.”
Speaking on behalf of National Australia Bank (NAB), the partner of the Top 25 Brokerages 2022 ranking, Phil Waugh, the executive, broker distribution at NAB, congratulated this year’s “standout brokerages for leading the way in adapting to customer needs and continually raising the bar in a dynamic market”.
“Despite the challenges of the past year, the broking industry continues to thrive, and the essential role brokers play has never been more important,” Mr Waugh said.
“Brokerages at the top of their game build strong relationships, help customers cut market complexity, and deliver exceptional service guiding Australians through some of the most important financial decisions of their lives.
“As the bank behind the broker, NAB is proud to be championing The Adviser’s Top 25 Brokerages, who have all gone above and beyond to support home and business owners during an extraordinary time.”
Noting the importance of brokers, Mr Waugh added that the bank is continuing to “prioritise and invest in the broker channel”, including through “simplification and digitising the lending experience”.
“We want to be the most reliable bank for brokers and ensure consistent and predictable service, so you can continue to focus on what you do best,” Mr Waugh said.
The full ranking, methodology, and interviews with the leaders of the top players in The Adviser’s Top 25 Brokerages 2022 can be found in the February 2022 edition of The Adviser magazine, out now.
*This copy was updated to reflect that the Loan Market figures do not include brokers operating under the Bring Your Own Brand model.
[Related: Top 25 Brokerages 2022: What makes them successful?]
