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ISCOVER
Staff reporter
Australia’s biggest independent aggregator has moved decisively to combat speculation that is on buying list of the big banks.
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In a media statement sent to The Adviser around midday today, the group set out to dispell spiralling rumours that it is on the verge of being acquired by a major bank.
Despite consolidation in the mortgage market place and changing dynamics of the industry, AFG stressed it remains "committed to being the largest independently operated broker in the country".
“The simple fact is we’re not for sale,” AFG's managing director Brett McKeon said.
"The simple truth of the matter is that AFG has never been in better shape.
“The founding directors of AFG are still active in running the business and we’re excited that despite the challenges of a difficult market since 2007, we have kept growing market share.
“We now support even more of the best mortgage brokers in Australia, and this is reflected in the monthly figures we publish – we expect to process over $2.9 billion in mortgages this month alone.
“What’s more we’re extremely well positioned for the future, having invested over $50 million in technology to help our members in the transition to mobile computing.
“Our industry lead on NCCP compliance is unrivalled."
Mr McKeon said AFG’s win as top Retail and Wholesale Aggregator at the MFAA Excellence Awards last Friday gives some indication of the way the aggregator is regarded by industry peers.
"When you look at the market, the role of a broker has never been more important. The recent decoupling of lenders from the RBA, as well as
increasing competition, means that borrowers have never had to deal with a more confusing range of options," he said.
"This is of direct benefit to brokers, because we can help bring clarity to consumers, shop around on their behalf, and get the deal that’s best for them. We are confident in the future of the broker channel and see great potential for AFG and its members."
