Wholesale aggregators have failed: Osborne

by Ben Abbott17 Jan 2012

Wholesale aggregators have been lambasted for failing to deliver on their promise of building and supporting independent broking businesses.

MoneyQuest national business developmemt manager Michael Osborne, himself formerly the head of sales and distribution at wholesale aggregator Vow Financial, has said following almost a decade of effort by these mortgage intermediaries, they had been unsuccessful and that brand was the key.

"History will show that few mortgage broking businesses under the wholesale aggregation banner have gone on to become anything other than small boutique businesses," he said.

"Wholesalers have demonstrated an inability to deliver the broad array of unique marketing, online, lead generation and CRM capabilities for each of their independent mortgage broker customers."

Osborne said that business partnerships between brokers and aggregators need to be in alignment, with similar overriding motives shared by all parties.

"A myriad of independent brands will always struggle to collectively market, drive online penetration, successfully generate leads and crucially cross-sell," he said.

While aggregators had growing importance in the new regulated environment, Osborne said that it was branded aggregators that had the 'holy grail' to thriving in the future of the market.


  • by Wes 17/01/2012 10:21:45 AM

    the whole point of wholesale aggregation is independence. We don't need a brand to secure business and revenue, we want to run our business models without interference (and in some cases inept management)and we don't see value in being kept in our place by brands which started out as small boutiques in the first place. The whoelsale aggregators understand this and stay out of the way of commerce being done while providing the scaffolding we need. Can't disagree more

  • by Chris 17/01/2012 10:26:19 AM

    How do branded aggregators equate to indendence for mortgage businesses? Heard it all before!

  • by David 17/01/2012 11:11:17 AM

    Yawn! It is incomprehensible to me why anyone with an entrepreneurial mind would tether themselves to an overarching brand. The majority of highly successful brokerages I know of are independly branded and I guess the rest are still "handcuffed" to their agreements.