Major aggregator Vow Financial has announced a partnership with a start-up challenger aggregator.
Vow has signed My Local Broker to come on board as part of an aggregation agreement. My Local Broker is a disruptive and technology-driven retail and aggregation platform launching in April 2016.
The business was founded by Jaci Smith and has significant financial backing from Gerry Ryan, a BRW Rich Lister for many years and owner of Jayco.
Vow chief executive Tim Brown says the partnership will challenge the norm and bring innovation to the industry.
“Vow works hard to challenge the industry norm and provide more to our brokers and their customers,” he said.
“My Local Broker has a similar mindset and we believe we can work well together to help them hit their targets. Prior to launch they already have 80 brokers in the pipeline and are looking to have 450 brokers in their first 12 months of operation.
“We are excited to be partnering with them to provide the accreditations and support needed to launch their exciting new business.”
In December, Smith appointed Michelle Middlemo as My Local Broker’s head of aggregation services. Middlemo was formerly head of sales, north region of PLAN Australia. Middlemo helped form the partnership with Vow.
“Vow was the best fit for our business. This partnership will help bring fresh ideas and innovation to the lending industry, something we haven’t seen in many years,” Middlemo said.