The rise of aggregators in Australia

As the mortgage broker market exploded in the 1990s as a solution to a fragmented lending landscape, mortgage aggregators emerged to support their activity. Ultimately, brokers needed access to a wide range of lenders, but managing individual relationships, accreditations, and compliance requirements was inefficient and costly. Aggregators stepped in to streamline these processes.

At their core, aggregators provided:

  • Lender access: Brokers could offer a diverse suite of loan products through a single platform.

  • Software platforms: Tools for managing client relationships, submitting applications, and tracking commissions.

  • Compliance support: Helping brokers meet their obligations as the regulatory landscape continued to develop.

  • Commission management: Handling payments and reconciliation between lenders and brokers.

  • Licensing: Allowing brokers to operate under the aggregator’s Australian Credit Licence.

These services were revolutionary at the time. They allowed brokers to focus on client relationships, while navigating the complexities of lending. As the industry matured, brokers became the dominant force in home loan distribution. By 2025, brokers facilitate nearly 78 per cent of new home loans in Australia – a testament to their growing influence.

However, for many years, the aggregation model that originally supported the early growth has remained largely unchanged. And that’s where the problem lies.

The changing needs of mortgage brokers

Today’s mortgage brokers face a vastly different environment. The challenges are more complex, the competition fiercer, and the expectations higher.

Compliance complexity
The introduction of the best interests duty (BID) following the banking royal commission has fundamentally changed how brokers operate. Every recommendation must be documented and justified. Brokers must demonstrate that their recommendations align with the clients’ best interests – not just suitable, but optimal. This requires robust systems, ongoing education, and meticulous record-keeping.

Expanding lender panels
The number of lenders in the market has grown significantly, each with its own policies, niches, and service models. Brokers must stay across these differences to offer tailored solutions. This demands constant research and adaptability – far beyond what traditional aggregator platforms were designed to support.

Digital expectations
Clients now expect a seamless digital experience. They want to upload documents from their phones, receive instant updates, and sign documents electronically. Brokers must deliver tech-enabled service or risk losing business.

Lead generation support
Generating leads has become more expensive and competitive. Paid advertising, SEO, and social media are now essential – but they require expertise and investment.

CRM evolution
Modern CRMs offer powerful automation, analytics, and integrations. But they also require training and ongoing management. Brokers must learn to leverage these tools effectively, while juggling client work, compliance, and business development.

Learning and development
Professional development is vital, yet difficult to prioritise. Brokers are often stretched thin, managing client relationships, applications, and operations.

Scaling a brokerage
Building a brokerage into a scalable, efficient organisation is harder than ever. From recruitment and onboarding to operations and marketing, brokers need strategic guidance. Many are excellent loan writers, but lack the time or expertise to build a business infrastructure that supports growth.

These challenges have outpaced the traditional aggregation model. Brokers need more than access to lenders – they need holistic support across every aspect of their business.

Finsure: Leading the evolution

Recognising these shifts, Finsure has redefined what it means to be an aggregator. In recent years, it has expanded its offering to meet the modern brokers’ needs.

“At Finsure, we don’t see brokers as just numbers in a network – we see them as individual business owners with unique goals and ambitions,” says Finsure Group CEO Simon Bednar. “That’s why everything we do is designed to help brokers grow at every stage of their journey.”

Educating the new generation of brokers
For those starting out, Finsure’s Broker Academy provides the knowledge and tools to launch with confidence. A 24-month program, our learning and education team develops the brokers’ sales skills, teach them how to market their brand to attract customers, expand their product knowledge, and set them up for success.

Flexible commission models
As brokerages mature, Finsure adapts the brokers’ commission model to whatever best suits their needs.

Investing in small businesses
Finsure has solutions like Commission and Trail Now, which unlocks equity in brokers’ portfolios, allowing them to grow without giving up ownership or entering into onerous loan structures.

Data intelligence
Over the past two years, Finsure has invested heavily in a data warehouse, which will unlock customer insights for brokers, drive business decisions, and will be foundational to the development of in-house artificial intelligence tools, exclusive to Finsure brokers.

Resourcing brokers for success
Having the resources to implement a strategy is crucial to the success of any business. Finsure’s wide-ranging support services, such as Virtual Assistants, Onshore Loan Processing, Recruitment, and Lead Generation, alleviate the administrative work and allow brokers to focus on developing the business and deepening client relationships.

AI augmentation
Unveiled at the 2025 summit, Finsure is transforming its technology platform. Combining data, intuitive design, and bespoke artificial intelligence solutions, the new platform unlocks enormous efficiencies for brokers and gives them a competitive edge.

International expansion opportunities
Having established a presence in New Zealand two years ago, the unique group model helps facilitate cross-Tasman opportunities for brokers who want to tap into new markets and diversify their income.

No slowing down

There’s a reason Finsure is Australasia’s fastest-growing aggregation group, currently facilitating one in nine loans in Australia. It has redefined what it means to be an aggregator, having built a model that goes beyond lender access to deliver holistic business support. From personalised marketing support to cyber security solutions and strategic business advice, brokers have the tools and confidence to scale.

“The mortgage broking industry is evolving – and aggregators must evolve with it,” says Bednar. “Traditional models are no longer enough. Brokers need partners who understand their challenges and offer solutions that drive growth. Finsure is leading that charge.

“We’re not just an aggregator – we’re your business partner. Our mission is simple: to empower brokers to succeed.”