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The last major aggregator without a white labelling program could be poised to enter the mortgage management market.
Speaking with The Adviser last week Vow Financial CEO Tim Brown the aggregator was in “constant discussions” with funders about creating a suite of white label products.
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“”We are very keen to keep talking with funders about white labelling. It is something we will look to break into, we just need the right product to do so,” Mr Brown said.
“If they come to me with a unique proposition, something that will give us a point of differentiation in the market, we will open them with open arms.”
Vow has lagged the market in its white labelling capabilities and there are clear signs that its members are missing out on what is fast becoming a core business channel for brokers.
According to a recent online poll conducted by The Adviser, more than half of the respondent have sold white labelled products with 12.7 per cent of respondents saying that they sell their own group’s branded products on as regular basis.
AFG was one of the first major brokerages to offer white labelled products, which it has done so for more than a decade. Aussie started out as a non-bank lender and it has maintained a focus on its own product offering after its transition into a brokerage in 2002.
In 2008 FAST, PLAN and Choice increased thier focus on white labelling with the backing of parent group Advantedge while more recently Connective and Mortgage Choice have ramped up thier white labelled offerings.
