The major branded aggregation groups are household names – most borrowers will already recognise the likes of Mortgage Choice, Aussie Home Loans, Yellow Brick Road, and Loan Market. And the appeal of broking with an established, trusted brand is understandable, especially for new-to-industry brokers.
But brand recognition is just one piece in this puzzle and there are plenty of other advantages to working with a franchise-style aggregator.
One such advantage is the level of support available to brokers. Many branded groups offer robust professional development and it’s far from a case of one size fits all.
Mortgage Choice, for example, offers programs and support for both established and emerging brokers, as part of what CEO Anthony Waldron describes as a recognition of a need for greater segmentation within the franchise support offering.
“Running a small business can be really challenging, and we recognise that our brokers won’t be experts in all the elements of running a business, which is why we have dedicated experts on hand at head office who can provide specialist expertise,” Waldron says.
New Mortgage Choice franchisees have access to a dedicated franchise development manager during their first year of business and brokers can access targeted training on topics such as marketing, lead generation, business planning, and technology.
Belonging to a network of over 1,000 brokers provides an abundance of opportunities to network, build relationships, learn, and share knowledge and ideas.
Aaron Hockey, Lendi Group
This year, the group also unveiled its new Peloton Program, a seven-month course designed to help already established franchisees grow their businesses further.
In an appearance on The Adviser’s In Focus podcast, Gordon MacVicar, Peloton Program participant and Mortgage Choice Noosaville and Peregian Beach franchisee, said the program was a great way to build on skills and qualifications.
“The Cert IV and Diploma are great for people working within a franchise or mortgage broking business, providing the fundamentals about what mortgage broking is. But these qualifications don’t give you teachings or learnings about running a business,” MacVicar said.
“It’s one thing to be new to the industry, but if you’re trying to grow your business, manage your team and run systems and processes, you need a different set of skills.”
Another advantage that goes hand in hand with broker support is the sense of belonging to a network of professionals already recognised as the go-to experts in their communities.
Aaron Hockey, general manager – network development at Lendi Group, says its brokers benefit from being able to connect with peers and industry leaders.
“Belonging to a network of over 1,000 brokers provides an abundance of opportunities to network, build relationships, learn, and share knowledge and ideas,” Hockey says.
Smaller groups, such as boutique aggregator Liberty Network Services (LNS), bring a similar appeal and CEO Daniel Marsi says the group has worked hard to refine this balance.
“Being a boutique aggregator, LNS is large enough for advisers to feel part of a network from which they can gain support and mentorship, while still being small enough for us to help them carve their own path and build their own business,” Marsi says.
“The conscious decision for LNS to remain a boutique organisation brings many advantages over our competitors, such as allowing us to remain more focused and agile.”
The third and final piece in the puzzle is the systems and technologies brokers have access to and, just like the wholesale aggregators, branded groups offer access to leading tech.
Aussie Home Loans brokers, for example, have access to the brand’s proprietary ‘Platform Plus’ support model that assists with tasks such as lead qualification, appointment booking, and loan processing. Hockey said these services have resulted in average lodgement speeds improving to four times faster than the industry average.
“All of these services are provided by centralised teams, which significantly reduces admin and manual handling for brokers and gives them capacity to direct their attention to what they do best – providing their customers with home loan expertise and growing their businesses,” Hockey says.
Moreover, rapid advancements in artificial intelligence (AI), data analytics, and automation signal ongoing evolution in the aggregation space.
“These tools can help brokers better understand client needs, streamline applications, and reduce admin tasks to enhance overall efficiency and customer experience,” Marsi says.
“Aggregators who can successfully adopt these innovations will gain a competitive edge.”
Waldron says Mortgage Choice, owned by REA Group, continues to invest in brand recognition and national campaigns across different platforms.
“Earlier this year we introduced a feature which targets potential buyers on realestate.com.au and prompts them to find their finance with the help of a Mortgage Choice broker,” Waldron says.
“This initiative contributed to a 21 per cent year-on-year increase in leads generated for our broker network.”
Aussie Home Loans similarly invests in its Aussie brand. Hockey says: “We invest heavily in our brand at national and local level to drive awareness and establish our brokers as the go-to experts in their communities.
“We offer brokers the opportunity to leverage our industry-leading technology, proven systems and high-touch support model to grow and scale a business.”
