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A mortgage aggregator has announced that it has increased its settlement volumes by 230 per cent in the past 12 months.
Boutique aggregator Purple Circle Financial Services has reported a 230 per cent increase in its settlement volumes over the past 12 months.
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The aggregator has also announced that it has welcomed three new broker partners.
Purple Circle managing director Greg Pennells said: “It’s been a fantastic year for Purple Circle — not only are we welcoming new broker partners to the family, but we [also] increased our settlement volumes by 230 per cent and grew our broker partner members by 46 per cent since January.”
Mr Pennells said that he expects the business to continue growing throughout the next 12 months, claiming that it aims to fill a void left by traditional aggregators.
“We expect to double our number of broker shareholders, brokers and volumes by the third quarter of 2019,” the MD said.
The [financial services royal commission] has shaken up the industry, with traditional aggregators focusing less on their members and more about themselves.
The managing director extended an invitation to brokers to join the boutique aggregator.
“A mortgage broker who wants to grow their business is looking for support, to have a say in the direction of their aggregator and the opportunity to earn shares for doing what they do best — writing loans!” the MD said.
New Purple Circle shareholder Sandra Abela-Speer added: “Never before have I seen such a strong spirit of camaraderie and mateship between colleagues.
“The participation at an equity level means that it is in everyone’s interest to see others succeed — the result of which is spontaneous collaboration and support between all members.”
[Related: Aggregator launches new commission management tool]
