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Jessica Darnbrough
AFG has appointed Chris Slater to the newly created role of head of sales and distribution at AFG Home Loans, highlighting just how important white labelling is to its overall business proposition.
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Yesterday, AFG’s general manager Mark Hewitt announced Mr Slater would leave his current role as NSW/ACT state manager to take up the new position from 1 February.
The appointment highlights the increasing importance of white labelling in aggregation.
Speaking to The Adviser, Mr Slater said AFG has managed to successfully grow this business over the last 12 months and was looking forward to further growth in this space.
“At last count, our white label products accounted for approximately 4 or 5 per cent of all our residential mortgage volumes,” Mr Slater said.
“This is a significant amount and I think it shows the industry is starting to transition away from the big four.
“Brokers and borrowers are comfortable using non-majors, which is brilliant for us and the industry as a whole. At AFG, we believe competition is critical to a broker’s success, which is why we came to market with a competitive product. The more competitive the mortgage lending space, the better off everyone is.”
Stephen Doyle will take up Mr Slater’s current role of NSW/ACT state manager from February.
