Powered by MOMENTUM MEDIA
the adviser logo
Broker

YBR reveals aggressive acquisition plans

by James Mitchell4 minute read
Mark Bouris

Yellow Brick Road (YBR) has revealed its ambitious growth plans which includes acquiring 10 new broker groups every month.

YBR outlined its lending strategy in a recent update, which includes a target loan book of $100 billion by 2020.

The group’s current loan book is valued at $32 billion, up 24 per cent on the first half of 2015.

YBR-owned aggregator Vow Financial will form a key part of the group’s lending drive going forward.

Advertisement
Advertisement

In the group’s half-year profit results, released last week, YBR mapped out its plans to increase the Vow network by 50 per cent over three years, by acquiring “nine to 10 new groups monthly”.

Vow has recruited 400 new brokers over the last 12 months and welcomed its 1,000th broker in October last year.

Meanwhile, YBR aims to grow its number of branches to 300 over three years by adding “four to five new franchisees monthly”.

YBR recorded $8.4 billion in settlements in the first half of the 2016 financial year, up 40 per cent on the prior corresponding period.

The results follow the group’s recent decision to restructure its leadership team, which saw Vow Financial CEO Tim Brown assume the role of CEO – Lending for the YBR group.

“Tim has significantly grown the Vow Financial network and turned the business into an aggregator powerhouse since joining the business,” YBR executive chairman Mark Bouris said.

“He will lead the charge in sales and distribution of products and branch/broker productivity across the Yellow Brick Road group of companies including RESI, Vow Financial and Yellow Brick Road.”

[Related: YBR announces major restructure]

mark bouris  x

James Mitchell

James Mitchell

AUTHOR

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

JOIN THE DISCUSSION

You need to be a member to post comments. Register for free today

MORE FROM THE ADVISER

Stephen Hale ta

MFAA launches near-prime, specialist loan resource

Coined Finance for when your customer doesn’t fit the mould: A broker’s guide to near-prime and...

READ MORE
Daniel Newell Gedda

Specialist lender LoanU rebrands to Gedda

The personal and auto loan provider LoanU, which specialises in helping Australians with impaired credit histories...

READ MORE
tech tools

CBA introduces AI technology to combat scams

New figures released by the competition watchdog this week have revealed that Australians lost more than $2 billion...

READ MORE
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