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Top brokerage to ‘triple’ in size

by Vivienne Kelly & Emma Ryan5 minute read
James Symond

Australia’s number one brokerage has revealed its plans to double or triple its footprint in the coming years, despite the sector entering a period of “unprecedented regulation”.

Aussie has once again taken out the top spot in The Advisers Top 25 Brokerages report, after lifting its broker numbers from 889 in last year’s ranking to 960 this year and increasing its total loan volumes from $14,638,128,000 in FY14 to $16,810,921,000 in FY15. The group also grew its overall loan book from $54,914,749,000 to $59,278,601,000.

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This is the fourth consecutive year Aussie has won the top spot.

Aussie CEO James Symond said the brokerage has been “reinventing the business behind the scenes” for more than a year.

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“We’ve been looking at this business as a Grand Prix team, where you’ve got a pit crew and you’ve got the actual racing car drivers,” Mr Symond said.

In the past 18 months, we’ve been rebuilding the pit crew, rebuilding the systems, the processes, the support, the environment [and] the culture. We have been rebuilding that in the past 18 months so we can then spend the next 18 months focusing even more on those racing car drivers, which are the mortgage brokers.”

Mr Symond said Aussie is now turning its sights on growth and wants to double or triple its current 5 to 6 per cent share of the Australian market over the next five years.

“In order to do that, it means more stores, more mortgage brokers, more feet on the street... and in order to ensure that feet on the street is sustainable, we need to make sure we have the pit crew match fit.

“It’s making sure we have Aussie HQ, Aussie support, Aussie systems, Aussie processes, Aussie IT, Aussie brand all match fit, so we’ve been really focusing on getting the support structures right, so over the next 18 months we can really see that in terms of further sales growth,” he said.

Steve Kane, general manager of NAB Broker, partner of the Top 25 Brokerages report, said industry-leading brokerages recognise that broking is more than a series of deals, and the third-party channel’s top operators are adapting to a dynamic market.

“The qualities that make a top brokerage don’t change, but each year the lending environment evolves and top brokers stand out by staying on top of industry trends and providing expert advice to customers on how regulatory shifts may impact them,” he said.

Click here to view the full report.

Top brokerage to ‘triple’ in size
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