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Branded businesses will continue to grow and take more market share, one aggregation head has claimed.
Speaking to The Adviser, Choice’s chief executive officer Stephen Moore said as the lending market becomes increasingly confusing, more and more borrowers will put their trust in the hands of branded businesses.
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According to Mr Moore, borrowers are, more than ever, seeking advice around their home loan decisions, which is where branded businesses can and will play a key role.
“More and more consumers are looking to shop online and educate themselves online. A strong brand will cut through the clutter that is online and direct borrowers who want and need advice to your door,” he said.
“We are increasingly seeing a flight to brand. I believe the digital age is driving the importance of brand. Similarly, the third party channel is evolving and, as it does, I think brand will become more popular.”
Mr Moore’s comments were largely echoed by Liberty Network Services' Brendan O'Donnell who told The Adviser earlier this year that branding will become crucial to the success of broker businesses into the future.
"I have always stood by the fact that branding is critically important," he said.
"Consumers trust brands and feel comfortable being associated with them. As such, I believe branded brokerages will become increasingly the norm.
"New brokers will also look to associate themselves with branded businesses as they will receive the support and leads necessary to build their business."
