Pick your partner: What should brokers consider when choosing an aggregation group?

Support for your ambitions

Aggregation is changing. Modern aggregators have moved beyond their traditional role as a bridge between brokers and lenders and instead now offer a range of services to create an ecosystem for broker businesses. At Finsure, for instance, we have expanded our offering to loan administration support, virtual assistants, a broker academy program, staff recruitment, personalised marketing support, advanced CRM solutions, and third-party integrations.

I’d recommend that any broker choosing an aggregator should write down their business objectives over the next 12 months, three years, and five years, then approach each aggregator and ask them how they will help achieve those goals. It will immediately become obvious which ones are prepared to actively invest in your business and support your ambitions and not just treat you as just another number.

Understanding of your requirements

Brokers should be clear about the type and level of support that they are seeking. While the opportunity to run their own business is a major drawcard for many, working independently can make it difficult to connect with colleagues. Liberty Network Services (LNS) strikes a balance between providing training, compliance, brand, and peer support while empowering a broker to build their own business.

Many brokers choose the profession for the flexibility, control, and balance it can give them in their working lives. The values of diversity and inclusion have never been more important and brokers who want to engage with an aggregator that won’t just view them as a business proposition are looking for organisations with heart. At LNS, we are proud to offer an inclusive culture that celebrates authenticity and diversity.

Expertise and capabilities

If you want to provide a full asset finance service to your clients, you need the full range of lenders and quoting options – and from time to time, you will need specialist support – that is why it’s important to choose a specialist aggregator.

For dedicated asset finance brokers, this means having confidence that the technology, people, training, compliance, and resources being provided all revolve around asset finance. There is no need for your business to make accommodations for mortgage products, processes, or rules.

Likewise, if you are a diversified broker that is serious about asset finance, you need access to the best asset finance offering in order to compete and provide the best service to your clients.

Culture, fit and growth story

When choosing an aggregator to join, it’s important to do your research. Effectively, you’re joining a community, so you need to find the right fit and culture and this is personal to you. Consider your goals and priorities and select a partner whose offering aligns with those.

This is an important decision, so it’s also important to think about how your requirements may evolve in the future. Evaluate the different pathways, technology, and support systems an aggregator provides, not just at the start of your journey, but as you gain experience and seek opportunities to grow and scale.

Look for a growth story you can be part of. It’s always a good sign when an aggregator’s network is expanding and market share is increasing – it’s a strong indicator that the business is on a growth trajectory.

Alignment with your goals

It’s important to find an aggregator that’s aligned to your goals for your business and your definition of success. Be curious about the value the aggregator will bring to your new business, for example, will it provide you with leads or will you need to source those yourself? What tools and technology will you have access to?

What support and expertise can you tap into? Will you benefit from national brand activity or will you need to drive all your own marketing? Will you receive learning and development opportunities?

And, importantly, are the values of that aggregator aligned to your own?