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Broker settles $22bn, opens 200th store

by James Mitchell4 minute read

Australia’s largest mortgage brokerage has posted a record result for the 2015-2016 financial year and grown its broker numbers by 20 per cent to 1,450.

The announcement of the record results, which includes over $3.5 billion by Aussie’s wholesale mortgage aggregator nMB, coincides with Aussie opening its 200th store yesterday in Sydney’s Balmain.

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Aussie CEO James Symond said there is ongoing momentum in the home loan market as interest rates continue to fall, with June being the biggest month in Aussie’s 24-year history.

“Our retail channel continues to be a standout performer and it is poignant that our landmark 200th store opened today is owned and operated by one of our longest standing and most successful mortgage brokers, Lindsay Rogers,” he added.

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Aussie Balmain is Mr Rodgers’ second Aussie franchise and one of 25 Aussie stores opened during this financial year. After working as a mobile broker and a sales manager with Aussie over almost two decades, he opened Aussie Newtown with his son Matthew in 2012. The father and son duo have now expanded their partnership, opening Aussie Balmain with one of their experienced Newtown mortgage brokers, David Leotta.

Aussie also grew its total broker numbers 20 per cent to 1,450 in the 2016 financial year. Mr Symond said there was no part of the business that wasn't enhanced over the past 12 months.

“We expanded and strengthened our product range, invested heavily in IT infrastructure, brought our customer contact centre in-house, moved to world-class headquarters at Grosvenor Place and continued to provide our brokers with exceptional training and events. It’s been a big 12 months.”

Aussie secured a number of industry accolades in FY16, claiming The Adviser’s Top Brokerage for the fourth consecutive year and the Australian Broking Awards’ Major Brokerage of the Year — Franchise for the third year running.

The broker also announced a national partnership agreement with OzHarvest, with a range of joint initiatives now underway to help needy and homeless people across Australia.

“Despite some headwinds in overseas markets and a more subdued property market in Australia, we have hit the ground running in the new financial year and expect to post another record result this financial year,” Mr Symond said.

“We’re also continuing to invest heavily in the Aussie brand with a new campaign to be rolled out for Spring, so watch this space,” he concluded.

[Related: Aussie shows Tassie its charitable side]

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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.

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