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Jessica Darnbrough
One aggregator’s focus on diversification has helped it increase its volumes by 40 per cent.
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Speaking to The Adviser, FAST’s acting chief executive officer David O’Toole said the aggregator had significantly increased its volumes over the last 12 months.
“Our volumes in the year to April 2012 were up significantly on the year to April 2011,” Mr O’Toole said.
“Our residential volumes were up 17 per cent, our commercial volumes were also up 17 per cent and our asset finance volumes are up by an incredible 40 per cent."
Mr O’Toole said the company’s growth in what is an undeniably tough environment was a testament to its broker partners and the aggregator’s diversified approach to broking.
“We have put the focus on diversification for some time now and that is really starting to pay dividends for us. We are recruiting brokers who are strong in areas other than just residential mortgages. We are known throughout the industry as having the best diversified brokers and our numbers support that.”
Mr O’Toole said diversification was now an essential part of broking as consumers want their financial adviser to handle all of their financial needs.
“We realise that if we don’t diversify our market share will suffer. Also, the residential property market is quite flat at the moment, so it is essential for brokers to offer a diversified range of products in order to keep their business moving forward.”
