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Jessica Darnbrough
With the acquisition of National Mortgage Brokers under its belt, Aussie’s James Symond has set his sights on ramping up the wholesale aggregation side of the business.
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Speaking to The Adviser yesterday, Aussie’s executive chairman James Symond said there was no reason why the company couldn’t grow its wholesale aggregation business to the same size as its retail aggregation business.
“Aussie settles in excess of a billion dollars every month just with its retail business, it’s a very strong business with 150 stores,” Mr Symond said.
“Within the Aussie retail business and over the next couple of years we expect to settle between $1.5 billion to $2 billion a month. And, for us, there is no reason that over the next two to three years our wholesale aggregation business can’t match those volumes."
A recent The Adviser survey revealed that almost half of the 400+ brokers surveyed plan to review their current aggregation agreements leaving the field open for groups that are looking to grow their numbers. But aside from organic growth, tighter market conditions and leaner margins also open up further acquisition opportunities.
“If we make the right acquisitions, we don’t see any reason why we can’t grow our wholesale aggregation business to the same size as some of the other big aggregators in the marketplace. We’ve got the will, the passion and the economy of scale to make it happen.
“We haven’t gone into partnership with Gerald and his team to play it safe, we’re doing this to make our mark.”
