Brokers continue to hold strong market share
Mortgage brokers in Australia continue to hold a significant share of the home loan market, according to the most recent study of the top 16 aggregators in the country.
Research firm comparator business benchmarking found that the broking channel now makes up around 45 per cent of the entire $24.1 billion home loan market, as at the March quarter.
According to the Mortgage and Finance Association of Australia (MFAA), brokers are on track to surpass the $100 billion mark of home loans written during the 2013 calendar year.
“Mortgage brokers continue to lift their presence as a highly effective distribution channel for both large and small lenders, well supported by borrowers,” MFAA chief executive Phil Naylor said.
When compared to countries such as Canada (27 per cent), the US (less than 40 per cent) and New Zealand (25 per cent), the MFAA said brokers in Australia continue to build momentum as a vital distribution channel.
Recommended for you
As private markets garner mainstream attention, a panel of experts believe access to the asset class through managed accounts will become more widely available, providing opportunities for advisers to diversify portfolios.
While retail investors turned to blue-chip stocks last month, according to AUSIEX trading data, September saw advised investors switch into ETFs.
With the intergenerational wealth transfer underway in Australia, wealth managers are focusing on how they can attract the next generation of advisers to service these younger clients.
ASIC wants to expand proceedings against Equity Trustees to seek compensation for members following Macquarie’s agreement to pay $321 million over Shield failings.
