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The boutique aggregator hit its 25-year milestone this month.
June 2024 has marked the 25th anniversary of boutique aggregator Custom Equity Group as it sets its sights on further growth opportunities and continues to be a pillar of support for brokers.
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The aggregator first broke into the third-party channel as a broking organisation in 1999, when it commenced as Custom Finance before changing to its current name, as a company established “by brokers for brokers”.
Custom Equity Group soon after incorporated finance brokers and commercial brokers along with mortgage brokers and now includes members across each state and territory.
Speaking to The Adviser, founding director Trevor Murdoch reminisced about the first meeting of the aggregator’s four founders: Jeff Bliss, Graeme Montgomery, David Downs, and himself.
“I still remember it plain as day and I can’t believe it has been 25 years,” he said.
“In June 1991, we came together to form Custom Finance on the Northern Beaches of Sydney NSW.
“The industry didn’t have any licensing and coming from Banking & Finance careers we considered ourselves to be professionals and doing the right thing so that is how it all started.”
Bliss commented that the group’s popularity stemmed from bringing together experienced members across banking and finance backgrounds.
“From the very beginning, we thought it was important to have a brand that stands for who brokers were and Custom Finance was formed,” Bliss said.
Downs said: “We have enjoyed an incredible 25 years, very early into our journey we decided to create a diversified business, which has enabled us to build the unique aggregator we have today.
“It has also helped us navigate our way largely unscathed through three once in a lifetime events, the credit crisis, a Royal Commission and of course the COVID-19 pandemic.”
Montgomery remarked that the “essence of that first meeting carries through today”.
“With many of those original brokers are still with us as their sons and daughters are joining the business,” he said.
“Even though the industry has gone on an enormously long journey and evolved drastically from those early days, there is still the same premise that remains that we continue to be a professional and experienced group.”
Current CEO David Haythorn, who entered his 10th year in November 2023 as CEO, said it remains his “absolute privilege to head this business and I remain as excited today as when I first walked into Custom”.
“Our strength is in the sum of the parts and the hugely talented people who work with and at Custom, and our valued broker members, many of whom have been here for a large part of our 25 years,” Haythorn said.
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